Cadence International

“The Executive Committee is composed of the elected officers of the board of directors. The committee is empowered to act between board meetings. Their decisions may be subject to review by the board.”

“Career Missionaries of Cadence International are members of the organization with the right to ratify elected Board members and ratify changes to the governing documents through a 3/4 majority vote of all appointed career missionaries.”

“Board members elected by the Board of Directors must be ratifed by a 3/4 majority approval of all Cadence International Career Missionaries.”

“Any changes to the Articles of Incorporation, Constitution or Bylaws of the organization must be ratifed by a 3/4 majority approval of all Cadence International Career Missionaries.”

“Form 990 is prepared by an independent CPA firm and reviewed in detail by the organization's top management. The reviewed Form 990 is then provided to the board of directors prior to filing with the IRS.”

“Members of the board of directors and officers are required to sign a conflict of interest agreement annually. In signing the form, they certify that either they have no conflicts of interest or that they will promptly disclose any such conflict. Currently the Executive Project Assistant compiles the signed statements and forwards any statements with disclosures to the CFO and President for review. Disclosure of potential conflicts is made to the Chairman of the Board who would bring these matters to the attention of the board. The board would then determine whether a conflict exists and is material, and in the presence of an existing material conflict, whether the contemplated transaction may be authorized as just, fair, and reasonable as to the organization. The decisions of the board on these matters will rest in their sole discretion, and their first concern must be the welfare of the organization and the advancement of its purposes.”

“The board of directors approves the salaries for the President and CFO. Comparability data is used, and the approval process is documented in the minutes.”

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

“Compensation reported in Part VII, column D and Schedule J, Part II, column B is the amount reported on the individual's W-2, box 1 or 5 (whichever amount is greater) per the IRS instructions. In the case of minister's compensation when box 5 of the W-2 is not applicable, box 1 compensation is used. Employee deferrals to qualified retirement plans are normally captured in box 5, not box 1 of Form W-2. For reporting purposes we have included the employee's retirement plan deferrals in Part VII, column F and Schedule J, Part II, column C.”

“Gain on currency exchange 2,690. Change in annuity 462.”