Cair Foundation Inc.

“Cair foundation's outside cpa firm prepares the form 990. The form is then reviewed and approved by the organization's controller. The form is provided to the full board for acceptance before filing.”

“All directors, principal officers and members of a committee of the board are covered persons under cair foundation's conflict of interest policy. In any actual or possible conflict of interest, the covered person must disclose the existence of the financial interest, if any to the board and members of committees with board delegated powers considering the proposed transaction or arrangement. Each covered person should annually sign a statement which affirms that they (1) received a copy of the conflict of interest policy. (2) has read and understands the policy (3) agree to comply with the policy. (4) understands the organization is charitable and educational and to maintain its federal tax exemption it must engage primarily in activities which accomplish one or more of its tax-exempt purposes. To ensure the organization operates in a manner consistent with charitable purposes and does not engage in activities that could jeopardize its tax-exempt status, periodic reviews are conducted. The periodic reviews at a minimum, include the following subjects: (1) whether compensation arrangements and benefits are reasonable, based on competent survey information, and the result of arm's length bargaining. (2) whether partnerships, joint ventures, and arrangements with management organizations conform to the organization's written policies, are properly recorded, reflect reasonable investments or payments for goods and services, further charitable purposes, and do not result in inurement, impermissible private benefit, an excess benefit transaction, or an act of self-dealing. In addressing the conflict of interest, the interested person may make a presentation at the board or committee meeting, but after the presentation, he/she should leave the meeting during the discussion of, and vote on, the transaction or arrangement involving the possible conflict of interest. The chairperson of the board or committee should appoint a person or committee to investigate alternatives to the proposed transaction or arrangement. After exercising due diligence, the board or committee should determine whether the organization can obtain with reasonable efforts a more advantageous transaction or arrangement from a person or entity that would not give rise to a conflict of interest. If a more advantageous transaction or arrangement is not reasonably possible under circumstances not producing a conflict of interest, the board or committee should determine by a majority vote of the disinterested members of the board or committee whether the transaction or arrangement is in the organization's best interest, for its own benefit, and whether it is fair and reasonable. In conformity with the above determination the board or committee should make its decision as to whether to enter the transaction or arrangement. If the board or committee has reasonable cause to believe a person has failed to disclose actual or possible conflicts of interest, it should inform the person of the basis for such belief and afford the person an opportunity to explain the alleged failure to disclose. If, after hearing the person's response and after making further investigation as warranted by the circumstances, the board or committee determines the person has failed to disclose an actual or possible conflict of interest, it takes appropriate disciplinary and corrective action.”

“The board of directors has a policy for reviewing and approving the compensation packages of the chief executive officer and other key employees on a regular basis to determine it is fair and reasonable with the goal of retaining employees at compensation levels within appropriate market range. The policy provides that the review and approval of the compensation arrangement will be conducted, in advance, by independent and impartial members of the board (or a committee of the board). The board reviews comparable compensation data for comparable services, comparable enterprises (by budget, revenues, number of employees, persons served, and mission), comparable circumstances (geographic location and economic conditions/cost of living), and other factors such as whether the person manages multiple functions or departments, the employee's duties and past performance history, and the employee's background, skills, education, and experience. The board may also review current compensation surveys compiled by independent firms and consider recent written offers from similar organizations competing for the covered individual's services. The documentation of the board includes the terms of the transaction and the date of approval, the members who were present during the debate and vote on the transaction, a description of the comparability data and how it was obtained and relied upon including the recommendations received from third-party consultants, and documentation of the basis for the determination.”

“Governing documents, the conflict of interest policy, and financial statements are available to the public upon request. However, current tax law does not require governing documents, the conflict of interest policy, and financial statements be provided to the public.”

“Professional expenses: program service expenses 749,749. Management and general expenses 36,327. Fundraising expenses 140,707. Total expenses 926,783.”