Cola Resources Inc

“There was an amendment to the articles of incorporation to remove cola, inc. As the sole member, effective july 24, 2018.”

“Cola resources had one member organization: cola, inc. Until amendment to the articles of incorporation of cola resources which removed cola, inc. As the sole member effective july 24, 2018.”

“Prior to amendment, the sole member organization may appoint up to nine members to the cola resources board of directors. Amendment effective july 24, 2018 removed the sole member of the organization.”

“Form 990 is based upon financial statements and supporting and unique schedules supplied by cola resources management. Independent accountant reviews information supplied by cola resources management and prepares return which is then reviewed by the treasurer and president. A final draft will be supplied to the cola resources board of directors for review prior to filing.”

“Each member of the cola resources board of directors has a legal and fiduciary reponsibility, while acting as a cola resources director, to make decisions exclusively based on what the director believes to be in the best interests of cola resources. No director should vote or take a position on a cola resources issue based on personal interests or on the interests of another organization. If a director believes that there may be a personal or organizational interest that might be perceived as affecting his or her ability to act in the best interests of cola resources or a particular matter, that issue should be disclosed so that the conflict or potential conflict is clearly understood. If the director, the relevant committee, or the board believes that the disclosed conflict or potential conflict might reasonably prevent the director from acting solely in the best interests of cola resources on a particular matter, the director should not participate in the discussion or in the vote on that matter and if the conflict is great enough, they should leave the discussion. No confidential information, strategies or plans relating to cola resources should be disclosed to any other person or organization. Disclosure of such information, strategies, or plans could constitute a violation of the director's duty or loyalty to cola resources. If there is any question about a conflict of interest or potential conflict, the director should address the question to the chair of the board. Each director, principal officer, and member of a committee with governing board delgated powers must annually sign a statement which affirms such person has received a copy of the conflict of interest policy, has read and understands the policy, and has agreed to comply with the policy. A disclosure statement is completed upon his/her association with cola resources, and is updated annually thereafter. An additional disclosure statement is filed at such time as an actual or potential conflict arises. Copies are provided to the corporate secretary of cola resources and retained by cola counsel.”

“A compensation committee (as defined in the schedule j instructions) of cola resources, inc.'s board of directors, composed entirely of individuals with no "conflicts of interest" (as defined under irs rules), determines the president's compensation and does so only after obtaining a compensation survey or study prepared by an independent compensation consultant (as defined in the schedule j instructions). This committee then determines the chief executive officer's compensation in strict compliance with the requirements of the irs intermediate sanctions regulations”

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