The Scrap Exchange Inc.

“Preliminary information for completing the form 990 is provided by the finance manager to the accountant. The completed 990 is reviewed by the executive director prior to filing. The 990 will be provided to the finance committee (chaired by the board treasureer) at the next committee meeting and will be delived electronically to all board members.”

“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.”

“Reuse arts district: property and asset management of 10 acres and 80,000 sf commercial space for various tenants in connection with scrap exchange mission of art and reuse. Consideration of development of the property in manner to continue support for rad, the scrap exchange and lakewood/durham is ongoing.”

“Due to staffing changes, the organization could not locate the 2021 1099 and 1096 forms that were filed.”

“Book / tax depreciation difference -4”