Loppet Adventures

“The foundation does not have any committees that have broad authority to act on behalf of the governing body.”

“A copy of the form 990 was provided to, and reviewed by the organization's directors and treasurer prior to filing.”

“Officers, employees, board members and their family members are prohibited from engaging in conflicts of interest that could affect any of the individuals listed above judgment with respect to transactions to which the organization is a party. All individuals annually complete a disclosure form identifying any relationships, positions or circumstances in which they believe could contribute to a conflict of interest arising. Any questions involving potential conflict of interest must be brought to the attention of the executive director, board chair, and any committee appointed to address conflicts of interest. Any individual who is deemed to have a conflict of interest is shall not participate in or be permitted to hear the board's or committee's discussion of the matter expect to disclose material facts and to respond to questions. They also shall not attempt to exert his or her personal influence with respect to the matter, either at or outside the meeting. These individuals are also prohibited from voting on such matters that create a conflict of interest and may not be present in the meeting room when the vote is taken, unless the vote is by secret ballot. When a person has a conflict of interest, their ineligibility to vote will be reflected in the minutes of the meeting.”

“The executive director compensation is reviewed by the board's executive committee annually. This committee is made up of the board's officers and the process begins with a self-evaluation by the executive director. The executive committee comments on the self-evaluation and then the full board reviews the evaluation at one of its fall meetings. The loppet foundation, inc. Uses a salary study from 2013 comparing the executive director's compensation with similar positions. The board will then increase the executive director's compensation accordingly, assuming favorable annual performance reviews.”

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

“Costs incurred by organization related to the development of the trailhead building which was donated to the minneapolis parks and recreation board. -3,216,873.”

“Loppet adventures has a committe that assumes responsibility for oversight of the audit of its financial statements and selection of an independent accountant.”