Wooden Boat Foundation

“There are not standing committees. The bylaws do not allow committees to act on behalf of the governing board.”

“After the chief executive director and chief finance director have reviewed and approved the final draft of form 990 and its schedules, including schedule o, to ensure all informaiton is accurate and fully disclosed, it is sent to the president and treasurer for review and approval before being presented to the full board of directors. In both instances, any recommended changes are discussed with the independent auditor. The board reviews the draft and votes to approve the final return before it is filed with the irs. The board's approval is documented in the meeting minutes.”

“Annual review of this policy is made by the board of directors. Any board member with a conflicting interest is required to report the interest and is not allowed to vote on any related matter. Employees are directed to avoid any conflicting activity. All employees sign policy handbook and copy is placed in personnel file.”

“The organization has a process for determining compensation for the chief executive officer and top management.”

“The 990 is available online and upon request.”

“This process has not changed from prior year. The audit and enterprise risk committee provides oversight of the independent audit function and ensures open communication between the committee members, management, the board of directors, and the independent auditor. Management provides representations to the auditor as well as minutes of all board of directors meetings. The independent auditor provides written communication to the board of directors relating to significant risks and accounting policies, estimates, financial disclosures, unusual transactions, difficulties or disagreements encountered during the audit, misstatements and audit findings or issues.”