Friends of Transit

“The board of directors has hired goodman schwartz, public affairs, llc to serve as executive director.”

“The return is reviewed by the executive director and an electronic copy is sent to the board of directors for their review and comment prior to filing.”

“Each director, principal officer and committee member shall, upon admission to the governing board or upon revision of the policy, sign a statement which affirms such person: a. Has received a copy of the conflicts of interest policy, b. Has read and understands the policy, c. Has agreed to comply with the policy, and d. Understands the organization 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. 1. Duty to disclose: in connection with any actual or possible conflict of interest, an interested person must disclose the existence of the financial interest and presentation to the directors and committee members considering theproposed transaction or arrangement. 2. Determining whether a conflict of interest exists: an interested person shall not attend the discussion by the governing board or committee members of whether a conflict of interest exists and shall not vote on such determination. 3. Procedures following a determination that a conflict of interest exists: a. After exercising due diligence, the governing board or committee shall determine whether the coalition can obtain with reasonable efforts a more advantageous transaction or arrangement from a person or entity that would not give rise to a conflict of interest. B. If a more advantageous transaction or arrangement is not reasonably possible under circumstances not producing a conflict of interest, the governing board member or committee shall determine by a majority vote of the disinterested directors whether to approve the transaction or arrangement as being in the coalition's best interest, for its own benefit, and fair and reasonable. 4. Violations of the conflict of interest policy: a. If the governing board or committee has reasonable cause to believe a member has failed to disclose actual or possible conflicts of interest, it shall inform the member of the basis for such belief and afford the member an opportunity to explain the alleged failure to disclose. B. If, after hearing the member's response and after making further investigation as warranted by the circumstances, the governing board or committee determines the member has failed to disclose an actual or possible conflict of interest, it shall take appropriate disciplinary and corrective action. Periodic reviews: to ensure the organization operates in a manner consistent with charitable purposes and does not engage in activities that could jeopardize its tax-exempt status, periodic reviews shall be conducted.”

“The board of directors set the annual compensation for the executive director's services which are provided by goodman schwartz, llc through its member david schwartz.”

“When the documents are requested, the organization will provide copies for a fair copying charge and respond within 3 business days.”