Mbi-Works Endowment

“Master builders, inc., a related organization provides management services to the organization.”

“A copy of the form 990 is presented to the board of directors by the president prior to filing with the irs.”

“Persons covered by the conflict of interest policy will annually disclose or update the chairman of the board of directors on a form provided by mbi works endowment, their interests that could give rise to conflicts of interest, such as a list of family members, substantial business or investment holdings, and other transactions or affiliations with businesses and other organizations or those of family members. For each interest disclosed to the chairman of the board of directors, the chairman will determine whether to: (a) take no action; (b) assume full disclosure to the board of directors and other individuals covered by this policy; (c) ask the person to recuse themselves from participation in related discussions or decisions within mbi works endowment; or (d) ask the person to resign from his or her participation in mbi works endowment or, if the person refuses to resign, become subject to possible removal in accordance with mbi works endowment removal procedures.”

“Form 990 part vi section b line 15: compensation is paid by master builders of iowa. The policy on the process for determining compensation of master builders of iowa applies to the compensation of the chief executive officer and other officers or key employees of master builders of iowa that provide services to mbi works endowment. The process includes 1) review and approval by the board of directors or compensation committee of the master builders of iowa; 2) use of data for comparable compensation for similarly qualified persons in functionally comparable positions at similarly situated organizations; and 3) contemporaneous documentation and recordkeeping.”

“The governing documents, conflict of interest policy, and financial statements are made available to the public upon request throughout the year.”

“Volunteers serve on mbi works endowment committee.”

“Although the organization does not receive stand alone gaap financial statements, it does receive on an annual basis from independent auditors, consolidated entity gaap financial statements for the organization and its affiliates.”