Northeast Wa-Northern Idaho Sheet

“Trustees representing the employers are appointed based on procedures established and maintained by the Inland Northwest Chapter of the Sheet Metal and Air Conditioning Contractors National Association (SMACNA Inland Northwest). Trustees representing the employees are appointed based on procedures established and maintained by the Sheet Metal Workers International Association Local Union 55 (Local 55).”

“The Form 990 was prepared from information provided by the trust's Training Director/Coordinator 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 Training Director/Coordinator 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 and approved for filing by the Board of Trustees.”

“Each trustee, officer and person of interest has an ongoing duty to disclose all material facts of every actual or potential conflict of interest existing when he or she is offered or elected to become a covered person, and occurring after the acceptance of a position as a covered person. Annually, each trustee and officer completes a conflict of interest questionnaire and affirmation statement. The affirmation statement requires each trustee and officer to affirm that 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 Trust is a tax exempt 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. If an actual or potential conflict of interest is discovered, the Trustees determine, based on all material facts, if a conflict of interest exists and what, if any, actions are required to eliminate or mitigate the conflict of interest. The Trustees will evaluate the disclosures to determine whether each involves an actual conflict of interest and may attempt to develop alternatives to remove a conflict from the situation. A Trustee who has an actual or potential conflict of interest may not vote to determine whether a conflict exists, but may present to the Trustees, disclose additional facts, or respond to questions. The Trust may enter into a transaction or arrangement in which a covered person has a conflict of interest only if the covered person has disclosed such conflict of interest in accordance with the Trust policy and either: the Trustees approve the transaction or arrangement at a meeting at which the covered person who has a conflict does not vote and does not participate (other than to answer questions raised by the unaffected Trustees), after determining, in good faith and after reasonable investigation, and that the transaction or arrangement is fair and reasonable to the Trust and is in the best interest of the Trust, or the transaction or arrangement is in fact fair to the Trust, furthers the Trust's purposes, and does not result in a violation of the Internal Revenue Code. Consideration of actual or potential conflicts of interest are documented in minutes of the meeting of the Trustees (or a committee thereof) by containing: 1) the names of the persons who disclosed an actual or potential conflict of interest or otherwise were found to have a conflict of interest; 2) the nature of the conflict of interest; 3) any action taken to determine whether a conflict of interest was present; 4) the Trustees decision as to whether a conflict of interest in fact existed; 5) the names of the persons who were present for discussions and votes relating to the transaction or arrangement; 6) the content of the discussion, including any alternatives considered to the proposed transaction or arrangement; and 7) a record of any votes taken in connection with the issue.”

“Director and employee compensation is determined and approved by the Board of Trustees using comparable data from within the local area and surrounding jurisdictions. Comparable data includes consideration of prevailing sheet metal journeyman wage as established by various regional collective bargaining agreements.”

“The Trust's governing documents, conflict of interest policy, financial statements and Form 990 are available to the general public upon written request to the organization at: 7209 E Trent Ave, Suite 1, Spokane, WA 99212.”

“The Trust does not compensate any of the members of the Board of Trustees. The board is to be comprised of eight individuals. In their roles as Trustees, all trustees are fiduciaries and understand their obligations under the Trust Agreement and the Trust's policies and procedures, which include a conflict of interest policy. Two of the trustees are business representatives of Sheet Metal Workers Local 55. They understand that as part of their employment expectations 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 trustees serve on a volunteer 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.”