Oklahoma Arts Institute Inc

“The board of directors has delegated authority to the audit committee to review and approve the form 990 before it is filed.”

“Article viii of the bylaws (interested parties), which was added in november 2008, governs conflicts of interest. Article 8.3, procedures for addressing conflicts of interest, provides that, when an arrangement or transaction with an interested party is at issue, the board chair or committee chair will designate a person or committee to investigate alternatives. The person or committee must determine whether the corporation may, without undue burden, delay or expense, obtain a more advantageous transaction or arrangement from a person or entity that would not give rise to a conflict of interest. If such an arrangement or transaction is not reasonably attainable, the board or committee must determine, by majority vote, whether the transaction or arrangement is still in the best interest of the corporation. Letters are sent annually to officers, directors and key employees requesting disclosure of an interest that could give rise to a conflict of interest.”

“Compensation for the president and ceo is determined by the executive committee. When the president and ceo was hired in 2007, compensation was based upon a review of salaries of individuals in comparable positions in oklahoma city. Similar data is collected and reviewed by the committee during the executive's annual performance evaluation, and any salary increase is based upon such data.”

“Oai's governing documents, conflict of interest policy, and financial statements are available to the public upon request. Information obtained from the form 990 for financial reporting is also available at www.guidestar.org.”

“Schedule l, part iv the organization maintains certificates of deposit at banks where current directors (jeff greenlee of nbc bank and dana lorenson of midfirst bank) are executives. Selection of these cds was based on an assessment of the most beneficial interest rates at the time of purchase.”

“Lectures, gallery openings, poetry readings, and recreational activities. The talent and creativity of students and faculty, combined with the mystique of the quartz mountain area in southwest oklahoma, create a powerful synergy. Expected outcomes of osai include: 1) during the two weeks, students will focus intensively on their own artistic discipline while gaining a heightened awareness of and appreciation for other art forms; 2) small class sizes will ensure a true mentor relationship between students and world-renowned faculty artists with whom they would not otherwise have the chance to work; 3) students will develop connections that result in long-term friendships and a nationwide network; 4) students will show improved confidence after the program and a clearer understanding of the discipline required to succeed in their chosen art form; 5) students will become future audience members and supporters of the arts, and they will gain an appreciation and understanding of all art forms; 6) by providing performances, lectures and demonstrations that are free and open to the public, osai will promote awareness of and interest in the arts by all oklahomans, particularly those residing in southwest oklahoma. Oai is committed to raising full scholarships for all osai students. Tour de quartz is a statewide outreach program that serves local communities and the entire state by showcasing student artwork produced during osai. Tour de quartz celebrates oklahoma's artistic talent, raises awareness about oai and its programs, and helps develop arts audiences in many communities.”

“Resource for their students by enriching the classroom learning experience. Every year, approximately 300 teachers and community artists attend ofai, including over 250 public school educators from 185 school sites statewide. Expected outcomes of ofai include: 1) participants will enhance their own artistic, intellectual, and professional skills and learn new techniques in their chosen field of study; 2) educators will return to their classrooms eager to share what they have learned with their students and peers, and they will become better educators, arts advocates, and civic leaders within their communities; 3) educators will receive take-home curriculum materials that will help them to integrate new ideas into their daily classroom activities, thus providing additional arts education opportunities for oklahoma's k-12 students at a time in which arts funding in the schools is suffering; 4) public educators will receive professional development credit for participating in ofai. Oai is committed to raising full scholarships for all public school educators who attend ofai.”

“Costs of goods sold included in statement of revenue 14,090 costs of goods sold included in statement of revenue -14,090”