Sigma Phi Lambda Inc.

“The organization has no committees for which minutes should be taken.”

“The form 990 is prepared by an outside cpa firm. Sigma phi lambda provides a copy of the form 990 to each board member for review. Upon their approval, the return is prepared for signature and signed by the current treasurer of the organization prior to being filed with the irs.”

“The conflict of interest policy covers the members, directors, and committees of sigma phi lambda. Each year, board and committee members will submit an annual statement agreeing to the general principles regarding conflicts of interest and disclose any potential conflicts. The general principles are: if a potential conflict arises during the year, it is the members responsibility to report it to the board of directors, which will resolve any actual or potential conflict. A conflicted board member may not be counted in determining a quorum for the meeting in connection with the conflicted matter.”

“When determining compensation, sigma phi lambda considers outside data such as compensation surveys, or expert reports in order to determine the employee's compensation package. Also, the compensation is established and voted on only by those members of the governing body that are independent to the person being compensated. Finally, the decisions regarding compensation are fully documented in writing by the organization.”

“Sigma phi lambda does not compensate any other officers or key employees of the organization.”

“Sigma phi lambda makes its governing documents, conflict of interest policy, and financial statements available to the tax year upon the request of those documents.”