Long Meadow Art Residency Inc

“The president, david feldman, and vice president, jennifer feldman are married.”

“Form 990 is prepared by an outside accounting firm with the assistance of the accounting clerk. The return is provided to the full board prior to filing.”

“Consequently, there exists between lmar and its board, officers, and management employees and the public a fiduciary duty, which carries with it a board and unbending duty of loyalty and fidelity. The board, officer, and management employess have the responsibility of administering the affiars of lmar honestly and prudently, and of exercising their best care, skill, and judgement for the sole benfit of lmar. Those persons shall exercise the utmost good faith in all transactions involved in their duties, and they shall not use their positions with lmar or knowledge gain therefrom for their personal benefit. The interest of the organization must be the first priority in all decisions and actions. Transactions with parties with whom a conflicting interest exists may be undertaken only if all of the follow are observed: 1) the conflicting interest is fully disclosed; 2) the person with the conflict of interest is excluded from the discussion and approval of such transaction; 3) a competitive bid or comparable valuation exists; and 4) the board (or a duly constituted committee therof) has determined that the transaction is in thebest interest of the organization. Disclosure in the organization should be made to the president (or if she or he is the one with the conflict, then to the board chair), who shall bring the matter to the attention of the board (or a duly constituted committee therof). Disclosure involving directors should be made to the board chair, (or if she or he is the one with the conflict, then to the board vice-chair) who shall bring these matters to the board (or a duly constituted committee thereof). The board (or a duly constituted committee thereof) shall determine whether a conflict exists and in the case of an existing conflict, whether the contemplated transaction may be authorized as just, fair, and reasonable to lmar. The decision of the board (or a dully constituted committee thereof) on these matters will rest in their sole discretion, and their concern must be welfare of lmar and the advancement of it purpose.”

“Governing documents and policies are available upon request.”