Benefitsmn

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

“The form 990 is prepared by the organization's public accounting firm based on information provided by management and the annual audit. Once the return is available, the form 990 is reviewed in conjunction with review of the annual audit by the board of trustees.”

“Each employee and board of trustees member shall annually complete a disclosure form identifying any relationships, positions or circumstances that he or she believes could contribute to a conflict of interest arising. Any such information shall be treated as confidential and shall generally be made available only to the chair of the board of trustees and to minnesota council of nonprofit's (the plan sponsor) executive director, except to the extent additional disclosure is necessary in connection with the implementation of the policy. The fact that one of the interests exists does not necessarily mean that a conflict exists, or that the conflict, if it exists, is material enough to be of practical importance, or if material, that upon full disclosure of all relevant facts and circumstances it is necessarily adverse to the interests of benefitsmn. However, it is the policy of the board of trustees that the existence of any of the interests shall be disclosed before any transaction is consummated. It shall be the continuing responsibility of the board of trustees and employees to scrutinize their transactions and outside business interests and relationships for potential conflicts and to immediately make such disclosures. Disclosure of potential or actual conflicts of interest involving employees should be made to the mn council of nonprofits executive director or associate director (or if the executive director or associate director is the one with the potential or actual conflict, then to the trustee chairperson), who shall bring the matter to the attention of the full board of trustees. Disclosure involving trustees should be made to the chair of the trustees (or if the board chair is the one with the conflict, then to the board vice-chair), who shall bring these matters to the full board of trustees committee. The board of trustees shall determine whether a conflict exists. After disclosure of the potential conflict of interest and all material facts relating to it, and after any necessary discussion with the conflicted person, he/she shall leave the board of trustees meeting while the determination of a conflict of interest is discussed and voted upon. If it is determined that a conflict of interest does exist, it is the responsibility of the board of trustees to determine whether the contemplated transaction may be authorized as just, fair, and reasonable to benefitsmn. The decision of the trustees on these matters will rest in their sole discretion, and their concern must be the welfare of benefitsmn and the advancement of its purpose. A. An interested person may make a presentation at the trustees meeting where the conflicted transaction will be addressed, but after such presentation, he/she shall leave the meeting during the discussion of, and the vote on, the transaction or arrangement that results in the conflict of interest. B. The chairperson of the board of trustees shall, if appropriate, appoint a disinterested person or committee to investigate alternatives to the proposed transaction or arrangement. C. After exercising due diligence, the board of trustees shall determine whether benefitsmn can obtain a more advantageous transaction or arrangement with reasonable efforts from a person or entity that would not give rise to a conflict of interest. D. If a more advantageous transaction or arrangement is not reasonably attainable under circumstances that would not give rise to a conflict of interest, the board or committee shall determine by a majority vote of the disinterested trustees whether the transaction or arrangement is in benefitsmn's best interest and for its own benefit and whether the transaction is fair and reasonable to benefitsmn and shall make its decision as to whether to enter into the transaction or arrangement in conformity with such determination.”

“The governing documents and financial statements are available to the public upon request.”

“The process has not changed from the prior year.”