Phcc Educational Foundation

“Phcc of california educational foundation's outside cpa firm prepare the form 990. The form is then reviewed and approved by the chief executive officer. The form is provided to the full board for review before filing.”

“The board has not adopted a written conflict-of-interest policy; however, it follows a related organization's policy. All officers, directors and key employees are considered "covered persons" under the conflict of interest policy. In connection with any actual or potential conflict of interest, an interested person discloses the existence of the financial interest and has the opportunity to present all relevant material facts to the board prior to its consideration of the proposed transaction or arrangement. Following the disclosure and any related discussion, the interested person leaves the meeting while the board discusses and votes on whether a conflict of interest exists. The disinterested members of the board make the final determination. An interested person may present information to the board but must leave the meeting during the discussion and vote on the transaction or arrangement involving the potential conflict of interest. If appropriate, the board chair appoints a disinterested person or committee to explore alternatives. After due diligence, the board determines whether a more advantageous transaction, free of conflict, is reasonably available. If not, the disinterested directors decide by majority vote whether the proposed transaction is in the organization's best interest, benefits the organization, and is fair and reasonable. The board then makes its final decision accordingly. If the board has reasonable cause to believe a member has failed to disclose an actual or potential conflict of interest, it informs the member of the concern and provides an opportunity to respond. After reviewing the response and conducting any necessary investigation, the board determines whether a failure occurred and, if so, takes appropriate disciplinary and corrective action. Board meeting minutes include the names of individuals who disclose or are found to have a financial interest, the nature of that interest, actions taken to determine the presence of a conflict, and the board's decision. Minutes also record the names of those present for related discussions and votes, the content of the discussions including any alternatives considered and the results of any votes taken. Each covered person annually signs a statement which affirms such person: has received a copy of the conflict of interest policy, has read and understands the policy, and has agreed to comply with the policy.”

“Governing documents, the conflict of interest policy, and financial statements are available to the public upon request. However, current tax law does not require these documents, to be provided to the public.”