Friends of the Orange County Library

“A copy of form 990 is provided to all officers prior to filing. Form 990 is reviewed by the treasurer of the organization prior to filing.”

“An interested person must disclose existence of a financial interest and be given the opportunity to disclose all material facts to the directors and members of the committee with powers delegated by the board of directors. After the disclosure, the remaining board or committee members shall decide if a conflict of interest exists. If the board or applicable committee discovers the alleged failure to disclose an actual or possible conflict of interest, it shall take appropriate disciplinary and/or corrective action. A voting member of the board of directors or of any committee who receives compensation from the organization for services is precluded from voting on matters pertaining to the members' compensation. The organization has an official policy that includes a statement that is to be signed annually.”

“The organization provides governing documents, financial statements, and tax returns upon request”

“The organization currently does not have a written whistleblower policy, however, there is a general understanding by members of the board of directors and the officers as to what this policy is. The organization follows the document retention policy of the orange county library system.”

“The organization does not have employees, therefore, these processes are not necessary.”

“The schedule d part v column (b) prior year - lines 1b, 1c and 1g are increased from what was reflected on the prior year return. Line 1b has a contribution increase of $1,067,792 and line 1c, an increase to net investement earnings of $8,597 for a total increase to line 1g end of year balance of $1,076,389. This variance is from endowment funds received and income earned for the tax year ending september 30th, 2023 but not identified as endowment funds to the preparer.”