H U Lee Memorial Foundation

“The 990 is prepared by an independent certified public accountant and is thoroughly reviewed by the audit committee before submission.”

“For each interest disclosed, the full board, or the executive director or the chairperson of the board, as appropriate, will determine whether the organization should: (a) take no action or (b) disclose the situation more broadly and invite discussion/resolution by the full board of what action to take, or (c) refrain from taking action and otherwise avoid the conflict. In most cases the broadest disclosure possible is advisable so that decision-makers can make informed decisions that are in the best interests of the organization. When the conflict involves a decision-maker, the person with the conflict ("interested party"): (i) must fully disclose the conflict to all other decision-makers; (ii) may not be involved in the decision of what action to take (e.g., may not participate in a vote) but may serve as a resource to provide other decision-makers with needed information. In some cases the person with the conflict may be asked to recuse him/herself from sensitive discussions so as not to unduly influence the discussion of the conflict. In all cases, decisions involving a conflict will be made only be disinterested persons. The fact that a conflict was managed and the outcome will be documented in the minutes of board meetings if the conflict was related to a board member, and reported by the executive director to the board/chair of the board/other appropriate committee of the board (e.g., audit committee) if the conflict was related to a staff member. The chairperson of the board/executive director will monitor proposed or ongoing transactions of the organization (e.g., contracts with vendors and collaborations with third parties) for conflicts of interest and disclose them to the board and staff, as appropriate, whether discovered before or after the transaction has occurred.”

“No officers are compensated.”

“No officers are compensated.”

“Governing documents are available to the public upon request.”