Dorrance Dance Incorporated

“Michelle dorrance (employee, director) and m'liss dorrance (director) - family relationship”

“The 990 is reviewed by the audit committee, and then sent to full board before filing with the irs.”

“Under the organization's conflict of interest policy, each director, officer and key person of the corporation must promptly disclose any financial interest which he or she or, to the best of his or her knowledge, any relative or other related party related to him or her has or reasonably expects to have in any proposed related party transaction prior to the start of any consideration of such matter by the board of directors or authorized committee thereof. Such financial interest shall be disclosed in writing to the board of directors or authorized committee thereof considering the proposed related party transaction. Such disclosure shall include all material facts and supply any reasons why the proposed related party transaction might or might not be fair, reasonable and in the best interest of the corporation. The director, officer or key person who disclosed the financial interest in a proposed or existing related party transaction may make a presentation to and respond to questions by the board of directors or authorized committee thereof but may not attempt to influence improperly the deliberation or voting on the matter. After such presentation, the director, officer or key person shall leave the meeting during the deliberation and voting on the related party transaction. If a related party has a substantial financial interest in the proposed or existing related party transaction, the board of directors or authorized committee thereof shall consider alternatives to the related party transaction to the extent available and, if appropriate, may appoint a disinterested person or committee to investigate alternatives to the proposed or existing related party transaction. In such case, the board of directors or authorized committee thereof shall determine whether the corporation can obtain a more advantageous transaction, agreement or arrangement with reasonable efforts that would not be a related party transaction. After exercising due diligence, and, if required, considering if a more advantageous transaction, agreement or arrangement that is not a related party transaction is reasonably attainable, the board of directors or authorized committee thereof shall deliberate and shall determine by a majority vote of the directors present at the meeting, provided a quorum is present at the time of the vote, whether the related party transaction is fair, reasonable and in the corporation's best interest at the time of such determination, and, in conformity with the above determination, make its decision as to whether to enter into or continue the related party transaction. The minutes of meetings of the board of directors or authorized committee thereof at which a proposed or existing related party transaction was discussed or voted on shall be prepared contemporaneously to document the proceedings.”

“The board sets the compensation for both the artistic and executive director. The board reviews salary levels at similarly sized nonprofit dance organizations (from publicly available information) to determine appropriate compensation levels in relationship to others in the sector. This process is done annually in preparation for approving the annual operating budget.”

“The organization makes the governing documents available upon request. The annual audited financial statements are posted on its website and will send out upon request.”