Phoenix Zones Initiative

“Hope ferdowsian, president & nikhil kulkarni, vice president; partners”

“A draft of the 990 information is provided to the board of directors for review and comments prior to filing”

“An interested person may make a presentation at the governing board or committee meeting, but after the presentation the individual shall leave the meeting during the discussion of, and vote on, the transaction or arrangement involving the possible conflict of interest. The chair of the governing board or comittee shall, if appropriate, appoint a disinterested person or committee to investigate alternatives to the proposed transaction or arrangement. After exercising due diligence, the governing board or committee shall determine whether the organization can obtain with reasonable efforts a more advantageous transaction or arrangement from a person or entity that would not cause a conflict of interest. If a more advantageous transaction or arrangement is not reasonably possible under the cirumstances of not producing a conflict of interest, the governing board or committee shall determine by majority vote of the disinterested directors whether the transaction or arrangement is in the organizations best interest, for its own benefit, and whether it is fair and reasonable. In conformity with the above determination it shall make its decision as to whether to enter into the transaction or arrangement. Each director, principle officer, and member of a comittee with governing board-delegated powers annually signs a statement that affirms such person a) has received a copy of the conflict of interest policy; b) has read and understand the policy; c) has agreed to comply with the policy; and d) understand the orgnization is charitable and in order to maintain its federal tax exemption it must engage primarily in activities that accomplish one or more of its tax-exempt purposes.”

“Governing documents dislosure explanation: governing documents are maintained at the office and are made available upon request.”