The Scrap Exchange Inc.

“Preliminary information for completing the form 990 is given by the finance manager to the accountant. The completed form is reviewed by the finance committee (chaired by board treasurer) and, if everything is correct, approved for review by the full board. If corrections need to be made, that information is provided to the accountant to make revisions. Once a final, correct version is received, that version is distributed electronically to all board members with a request for comments or a notice of approval. (notice is provided by email). Any comments on items that require changes are returned to the accountant for corrections. If changes need to be made, a final, corrected version is re-submitted to the full board for approval.”

“Board members review the conflict of interest policy annually, sign and disclose any potential conflicts of interest. Board members are encouraged to raise questions about potential conflicts of interest of their own or of other board members whenever a situation arises or a decision is made that could be perceived by anyone within or outside the organization as a potential conflict of interest. When such situations arise, a vote is held on the issue, and if a quorum of board members agree that a conflict of interest would occur as a result of a particular action, the member or members involved in the action must either (a) take action to resolve the conflict, (b) recuse themselves from any decisions in which the conflict of interest would arise, or (c) step down from the scrap exchange, inc. Board.”

“Pay rates for all employees, including the executive director, are determined through comparisons to organizations of similar size and budget and/or with comparable missions and purposes in the same geographic area.”

“Salaries for all employees, including the executive director, are determined through comparisons to organizations of similar size and budget and/or with comparable missions and purposes in the same geographic area.”

“All governing documents and financial statements are available upon request (by phone, email, or in person) at the organization's main office. Form 990 is available through guidestar.”