Big Sur Marathon Foundation Inc

“There are no committees that have the authority to act on behalf of the governing board.”

“Committee of the board reviews the form 990 prior to filing. Documents will be distributed for review via boardspot portal.”

“The conflict of interest policy is discussed regularly at the board level as well as in weekly leadership meetings. To whom does the policy apply? This policy applies to all directors, officers and key persons. Key person means a person, other than a director or officer, whether or not an employee of the corporation, who: a) has responsibilities, or exercises powers or influence over the corporation as a whole similar to the responsibilities, powers, or influence of directors and officers; b) manages the corporation, or a segment of the corporation that represents a substantial portion of the activities, assets, income, or expenses of the corporation; or c) alone or with others controls or determines a substantial portion of the corporation's capital expenditures or operating budget. Disclosing potential conflicts of interest 1. You must disclose to the best of your knowledge all potential conflicts of interest as soon as you become aware of them and always before any actions involving the potential conflict are taken. Submit a signed, written statement disclosing all the material facts to the board chair. 2. You must file an annual disclosure statement in the form attached to this policy. If you are a director, you must also file this statement prior to your initial election. Submit the form to the board chair. Determining whether a conflict of interest exists 1. After there has been disclosure of a potential conflict and after gathering any relevant information from the concerned director, officer or key person, the board chair and/or executive committee shall determine whether there is a conflict of interest. The director, officer or key person may not be present for deliberation or vote on the matter and must not attempt to improperly influence the determination of whether a conflict of interest exists. 2. In determining whether a conflict of interest exists, the board chair and/or executive committee shall consider whether the potential conflict of interest would cause a transaction entered into by the corporation to raise questions of bias, inappropriate use of the corporation's assets, or any other impropriety. 3. A conflict always exists in the case of a related party transaction a transaction, agreement or other arrangement in which a related party has a financial interest and in which the corporation or any affiliate of the corporation is a participant. 4. If the board chair and/or executive committee determines that there is a conflict of interest, it shall refer the matter to the board of directors ("board"). Procedures for addressing a conflict of interest 1. When a matter involving a conflict of interest comes before the board, the board may seek information from the director, officer or key person with the conflict prior to beginning deliberation and reaching a decision on the matter. However, a conflicted person shall not be present during the discussion or vote on the matter and must not attempt to improperly influence the deliberation or vote. 2. Additional procedures for addressing related party transactions a. The corporation may not enter into a related party transaction unless, after good faith disclosure of the material facts by the director, officer or key person, the board or a committee authorized by the board determines that the transaction is fair, reasonable and in the corporation's best interest at the time of such determination. B. If the related party has a substantial financial interest, the board or authorized committee shall: i. Prior to entering into the transaction, consider alternative transactions to the extent available; ii. Approve the transaction by a vote of not less than a majority of the directors present at the meeting; and iii. Contemporaneously document in writing the basis for its approval, including its consideration of any alternative transactions. Minutes and documentation the minutes of any board meeting at which a matter involving a conflict of interest or potential conflic”

“Procedures for determining compensation 1. No person shall be present for or participate in board or committee discussion or vote pertaining to: a. Their own compensation; b. The compensation of their relative; c. The compensation of any person who is in a position to direct or control them in an employment relationship; d. The compensation of any person who is in a position to directly affect their financial interests; or e. Any other compensation decision from which the person stands to benefit. 2. In the case of compensation of key persons, the following additional procedures apply: a. The board or a committee authorized by the board shall approve compensation before it is paid. B. The board or authorized committee shall base approval of compensation on appropriate data, including compensation paid by comparable organizations (three are sufficient if the corporation's income is less than $1,000,000) for functionally similar positions, availability of similar services in the geographic area of the corporation, and compensation surveys compiled by independent firms. C. The board or authorized committee shall contemporaneously document: i. The terms of compensation and date of determination; ii. The members of the board or committee who were present and those who voted for it; iii. The comparability data relied on and how it was obtained; iv. If the compensation is higher or lower than the range of comparable data, the basis for the determination, and; v. Any actions with respect to consideration of the compensation by anyone on the board or committee who had a conflict of interest with respect to the matter. Compensation was last reviewed in august 2024.”

“The organization makes its financial statements, governing documents and conflict of interest policy available upon request.”

“Race general costs: program service expenses 150,496. Management and general expenses 0. Fundraising expenses 0. Total expenses 150,496. Volunteers: program service expenses 106,260. Management and general expenses 0. Fundraising expenses 0. Total expenses 106,260. Expo booths: program service expenses 76,498. Management and general expenses 0. Fundraising expenses 0. Total expenses 76,498. Vip expenses: program service expenses 73,364. Management and general expenses 0. Fundraising expenses 0. Total expenses 73,364. Other race expenses: program service expenses 70,120. Management and general expenses 148. Fundraising expenses 0. Total expenses 70,268. Hospitality: program service expenses 55,331. Management and general expenses 0. Fundraising expenses 0. Total expenses 55,331.”

“The process for oversight and selection of an independent accountant has not changed from the prior year.”