Impact Experience Institute

“The federal form 990 was prepared by an outside accountant. The governingbody was given a copy of the draft federal form 990 for them to review andapprove before it was filed with internal revenue service.”

“Impact experience institute has a conflict of interest policy and followsthe procedures contained in such policy as set out below. The board membersand officers are familiar with such policy:1. Duty to disclose: in connection with any actual or possible conflict ofinterest, an interested person must disclose the existence of the financialinterest and be given the opportunity to disclose all material facts to thedirectors and members of committees with governing board delegated powersconsidering the proposed transaction or arrangement. 2. Determining whether a conflict of interest exists: after disclosure ofthe financial interest and all material facts, and after any discussionwith the interested person, he/she shall leave the governing board orcommittee meeting while the determination of a conflict of interest isdiscussed and voted upon. The remaining board or committee members shalldecide if a conflict of interest exists.procedures for addressing the conflict of interest:a. An interested person may make a presentation at the governing board orcommittee meeting, but after the presentation, he/she shall leave themeeting during the discussion of, and the vote on, the transaction orarrangement involving the possible conflict of interest. B. The chairperson of the governing board or committee may, if appropriate,appoint a disinterested person or committee to investigate alternatives tothe proposed transaction or arrangement.c. After exercising due diligence, the governing board or committee shalldetermine whether the organization can obtain with reasonable efforts amore advantageous transaction or arrangement from a person or entity thatwould not give rise to a conflict of interest. D. If a more advantageous transaction or arrangement is not reasonablypossible under circumstances not producing a conflict of interest, thegoverning board or committee shall determine by a majority vote of thedisinterested directors or committee members whether the transaction orarrangement is in the organizations best interests, for its own benefit,and whether it is fair and reasonable. In conformity with the abovedetermination it shall make its decision as to whether to enter into thetransaction or arrangement. 4. Violations of the conflicts of interest policy a. If the governing boardor committee has reasonable cause to believe a member has failed todisclose actual or possible conflicts of interest, it shall inform themember of the basis for such belief and afford the member an opportunity toexplain the alleged failure to disclose. B. If, afterhearing the membersresponse and after making further investigation as warranted by thecircumstances, the governing board or committee determines the member hasfailed to disclose an actual or possible conflict of interest, it shalltakeappropriate disciplinary and corrective action.”

“Compensations are discussed and approved by the board of directors.”

“The organizations governing documents, conflict of interest policy, form990, form 1023, and financial statements are available upon request.”