Bloom Arts Foundation Inc.

“Laura Porter and Dave Hemann have a family relationship and a business relationship.”

“The Board of Directors receives the Form 990 to review, discuss and approve before it is submitted.”

“Bloom Arts Foundation's (BAF's) Conflict of Interest Policy aims to protect BAF's interests from transactions that could privately benefit officers, directors, or lead to excess benefit transactions. An "interested person" is defined as any director, principal officer, or committee member with governing board delegated powers who has a direct or indirect financial interest with BAF or entities it deals with, including ownership, investment, or compensation. When a potential conflict arises, the interested person must disclose their financial interest and all material facts to the relevant board or committee. After disclosure and discussion, the interested person must leave the meeting while the remaining members determine if a conflict exists and, if so, whether the proposed transaction is in BAF's best interest, fair, and reasonable, voting by a majority of disinterested directors. The policy is designed to supplement, not replace, existing state and federal laws governing conflicts of interest for non-profit organizations.”

“BAF determines officer compensation through specific guidelines outlined in its Conflict of Interest Policy. Primarily, the compensation policy states that any voting member of the governing board or any committee with jurisdiction over compensation matters is precluded from voting on their own compensation if they receive direct or indirect payment for services from BAF. However, these voting members are permitted to provide information to any committee during compensation discussions. Furthermore, as part of its periodic reviews, BAF ensures that compensation arrangements and benefits are reasonable, are based on competent survey information, and are the result of arm's length bargaining. This process helps ensure that compensation aligns with charitable purposes and avoids jeopardizing BAF's tax-exempt status.”

“No other documents available to the public.”

“Professional fees: Management and general expenses 2,092. Total expenses 2,092. Contractors: Program service expenses 51,794. Total expenses 51,794.”