Hwc Foundation

“Review of the form 990: the form 990 is prepared by an independent accounting firm based on the audited financial statements and information provided by the accounting department of the organization. Prior to filing, the draft of the form 990 is emailed to board members and final copy of the form 990 is approved at the board meeting.”

“Conflict of interest policy: the purposes of the corporation shall be those non-profit purposes stated in the articles of incorporation, as they may be amended. No part of the net earnings or other assets of the corporation shall inure to the benefit of, be distributed to or among, or revert to, any director, officer, contributor or other private individual having, directly or indirectly, any personal or private interest in the activities of the corporation, except that the corporation may pay reasonable compensation for services rendered and may make payments and distributions in furtherance of the non-profit purposes stated in the articles of incorporation. At no time shall any board member be an employee of the corporation. Also at no time shall the spouse, child, parent, brother, or sister by blood or marriage of a board member be an employee of the corporation. Annually shwc board members complete a survey designed to bring to light any conflicts of interest. If a conflict should arise, then the board member would abstain from voting.”

“Ceo compensation determination: the ceo's salary may be adjusted by the board of directors annually during the annual employee evaluation period. The compensation is compared with other directors' salaries in oklahoma and against nachc's salaries and benefits survey. All compensation is paid by a related organization.”

“Document disclosure: the organization makes its governing documents, conflict of interest policy, and financial statements available upon request. If requested, the person will be asked to review the documents on site.”