Inland Empire Electrical Training Trust

“Ken Brown is the Business Manger / Financial Secretary of IBEW Local Union 73 and Gordon Vally is the president of IBEW Local Union 73.”

“Management Trustees are appointed by the chair of the National Electrical Contractors Association. Labor Trustees are appointed by the President of the International Brotherhood of Electrical Workers Local Union 73.”

“The Form 990 was prepared under the guidance of the organization's Director by the independent accounting firm SCHOEDEL & SCHOEDEL, Certified Public Accountants, PLLC. Draft copies of the organization's financial statements and Form 990 were first provided to the organization's Director who reviewed the Form 990 for accuracy and completeness. Any questions, concerns, or issues raised by the Director were addressed, and any necessary revisions were made to the Form 990. The revised Form 990 was then provided to the Board of Trustees for its review and approval. Any additional questions, concerns, or issues raised by the Board of Trustees were addressed, and any necessary revisions were made to the Form 990. The final version of the Form 990 was reviewed, approved, and filed by the Board of Trustees.”

“Trustees, service providers, or any other person having responsibility for the management or administration of the Trust's finances, investments, or other proprietary information concerning the Trust are considered interested persons. An interested person is under a continuing obligation to disclose any potential conflict of interest to the Board of Trustees as soon as it is known or reasonably should be known. The interested person is given the opportunity to disclose all material facts to the Trustees when considering the proposed transaction or arrangement. After disclosure of the financial, professional, or personal interest and all material facts, and after any discussion with the interested person, he/she leaves the Trustees meeting while the determination of a conflict of interest is considered. If the disinterested Trustees determine a conflict of interest exists, the Chairman of the Board, if appropriate, appoints a disinterested person or committee to investigate alternatives to the proposed transaction or arrangement. After exercising due diligence, the Trustees determine whether the Trust can obtain with reasonable efforts a more advantageous transaction or arrangement with a person or entity that would not give rise to a conflict of interest. If a more advantageous transaction or arrangement is not reasonably attainable under circumstances that would not give rise to a conflict of interest, the Board or committee determines by majority vote of the disinterested Trustees whether the transaction agreement or arrangement is in the Trust's best interest, for its own benefit, and whether it is fair and reasonable. In conformity with the above determination the Trustees make a decision as to whether to enter into the transaction agreement or arrangement. The minutes of the meeting reflect that the conflict disclosure was made to the Board, the vote taken and, where applicable, the abstention from voting and participation by the interested party. Whenever possible, the minutes frame the decision of the Board in such a way to provide guidance for consideration of future conflict of interest situations. To ensure the Trust operates in a manner consistent with its tax-exempt purposes and does not engage in activities that could jeopardize its tax-exempt status, the Board of Trustees conducts periodic reviews. The periodic reviews include, at a minimum, the following subjects: Whether the contractual arrangements with service providers and the services provided are reasonable, based on competent market and survey information, and the result of arm's length negotiation. Whether contractual arrangements with service providers and arrangements with other organizations conform to written policies, are properly recorded, reflect reasonable investment or payments for goods and services, further tax-exempt purposes, and do not result in inurement, impermissible private benefit or in an excess benefit transaction. Whether any transaction conducted by the Trust during the review period involves or could possibly give rise to a conflict of interest.”

“Director and employee compensation is determined and approved by the Board of Trustees using comparable data from within the local area and surrounding jurisdictions.”

“The Trust's governing documents, conflict of interest policy, financial statements and Form 990 are available to the general public upon written request sent to the organization at 3210 East Ferry Avenue, Spokane, WA 99202.”

“The Trust does not compensate any of the members of the Board of Trustees. The board is comprised of four individuals. The Chairman of the Trust is the manager of the Inland Empire Chapter of the National Electrical Contractors Association (NECA). The Secretary of the Trust is the business manager of the International Brotherhood of Electrical Workers (IBEW) Local Union 73. One of the remaining two trustees is the President of IBEW Local Union 73. The other is a former owner of a company which was a member of NECA and contributed to this trust. In their roles as Trustees, all four are fiduciaries and understand their obligations under the Trust Agreement and the Trust's policies and procedures, which include a conflict of interest policy. The Chairman and Secretary of the Trust, as part of their employment expectations, understand that they must serve on this board of trustees. Their regular compensation takes into consideration services performed by them in regard to the Trust. The other two trustees serve on a voluntary basis, and receive no known compensation from their employers, or any other party, for their services on this board of trustees. The trust does not readily have access to information related to the compensation paid by other entities to the Trustees.”