Seacology

“THE ORGANIZATION HAS ADOPTED THE FOLLOWING POLICY:1) The draft of the Internal Revenue Service Form 990 be distributed toall members of the Seacology Board of Directors as a PDF file via email within 5 days of the deadline for submitting the Form 990 to taxing authorities (original or extended deadline); and 2) That the draft of the Internal Revenue Service Form 990 will be reviewed and approved by the Chairman of the Board, the Executive Director, and the Accounting Manager, each acting on behalf of the Board of Directors, prior to submitting the Form 990 to taxing authorities.”

“The following policy has been adopted by the organization: no member of the board of directors shall participate in any discussion or vote on any matter in which he or she or a member of his or her immediate family has potential conflict of interest due to having material economic involvement regarding the matter being discussed. When such a matter presents itself, the director must announce his or her potential conflict, disqualify himself or herself, and be excused from the meeting until discussion is over on the matter involved. The president of the meeting is expected to make an inquiry if such conflict appears to exist and the board member has not made it known.each member of the board of directors, employees and independent contracts (who receive more than $25,000 per year from seacology) shall annually sign a statement which affirms that such person:a. Has received a copy of the conflict of interest policy,b. Has read and understands the policy,c. Has agreed to comply with the policy,d. Disclose the existence of any potential conflicts of interest, ande. Understands seacology is a charitable organization and in order to maintain its federal tax exemption it must engage primarily in activities which accomplish one or more of its tax-exempt purposes.”

“The organization has established a compensation committee to review the compensation of key employees earning in excess of $100,000 per year. One compensation committee meeting is held per year.”

“Financial Reports: Seacology prepares an Annual Report and distributes it to the public via email, mail, and by posting it on Seacologys website. The Annual Report contains an unaudited ending-year statement of financial activites with a note that recommends the public contact the Seacology office mid-year to obtain a copy of audited financial statements. Seacology also distributes the Internal Revenue Services form 990 to the public by posting a copy to the Seacology website.Governing documents, and conflict of interest policy: Seacology distributes policies approved by the board of directors, including the conflict of interest policy, to staff in an employee manual and/or accounting manual, to the board of directors in a board handbook, and stores these policies along with governing documents in a readily accessable area of the main office for staff to provide to the public upon request.”