California Academy for Economic Development

“The form 990 is reviewed by the executive director prior to filing. Once the return has been filed, it is distributed to the entire board of directors.”

“The executive committee of caled will review each statement of disclosure for any set of facts or circumstances that may reflect an actual, potential, or apparent conflict of interest. The executive committee may request the assistance of legal counsel or staff to identify potential conflicts. When evaluating a particular set of facts or circumstances, the executive committee shall consider the following nonexhaustive list of factors that may indicate a conflict of interest: - solicitation or acceptance of gifts or other items of value that may create an appearance or expectation of special treatment in caled matters; - any incident of abuse or misuse of a leadership position for personal or third-party gain or benefit; - situations in which a director, officer, or key employee may be divided between personal interests or the interests of another organization and the best interests of caled; - business, professional, or other activities that would materially and adversely affect caled either directly or indirectly; and, - any arrangement in which a director, officer, or key employee provides goods or services to caled as a paid vendor. The executive committee may request additional information from any director, officer, or key employee at any time; however, no individual whose relationships or activities are under review may participate in deliberations, debate, or any vote of the executive committee while such review is pending. If the executive committee of the board of directors of caled identifies an actual, potential, or apparent conflict of interest, it may take one of the following actions to resolve such conflict: - waive the conflict of interest as unlikely to affect the director's, officer's, or key employee's ability to act in the best interests of the organization; - determine that the individual director or officer should be recused from all deliberation and decision-making related to the particular transaction or relationship that gives rise to the conflict of interest. This course of action should apply particularly when the transaction or relationship is one which presents a conflict only with respect to one or two discrete programs or activities; or - determine that the individual director or officer must resign from his or her service to caled. This course of action should apply when the conflict of interest is so pervasive that the director or officer would likely seldom, if ever, be able to act solely in the best interests of the organization. The board of directors of caled reserves final authority over the resolution of all conflicts of interest involving a director or officer of caled. The board of directors may overrule any decision of the executive committee with regards to any actual, potential, or apparent conflict of interest, and the executive committee may refer any such matter to the board of directors at any time.”

“Governing docs, policies, and financial statements are available to the public upon request and approval by the board of directors.”