Rural Alaska Community Action Program Inc.

“The completed form 990 is reviewed by the chief financial officer (cfo) for accuracy and then presented to the finance committee. The finance committee reviews the completed form and is able to ask questions of the cfo/executive team regarding the information presented. Once satisfied the finance committee recommends that the board accepts the 990 as presented. The form is then presented to the board and they have an opportunity to ask questions before voting to accept the completed form.”

“The conflict of interest policy covers members of the rural cap board of directors and members of committees with board-delegated powers. Each covered person shall annually sign a statement which affirms such person has received a copy of the conflicts of interest policy, has read and understands the policy, has agreed to comply with the policy, and understands that in order to maintain its federal tax exemption rural cap must engage primarily in activities which accomplish one or more of its tax-exempt purposes. The procedure for addressing any potential conflict of interest includes: 1) an interested person may make a presentation to the board, after which the interested person shall leave the meeting during the discussion of, and the vote on, the transaction or arrangement involving the possible conflict of interest; 2) the chair of the board shall appoint a disinterested person or committee to investigate alternatives to the proposed transaction; 3) the board shall determine whether rural cap can obtain with reasonable efforts a more advantageous transaction or arrangement from a person that would not give rise to a conflict of interest; and 4) if a more advantageous transaction or arrangement is not reasonable possible the board shall determine by majority vote of the disinterested directors whether the transaction or arrangement is in rural cap's best interest, for its own benefit, and whether it is fair and reasonable.”

“Ceo is paid under the terms of a contract negotiated with the board hiring committee prior to being hired.”

“Will provide copies upon request.”

“Executive committee has authority.”

“Contractual & professional fees: program service expenses 4,189,871. Management and general expenses 16,661. Fundraising expenses 0. Total expenses 4,206,532.”

“Exclusion of ree investment 2,345,464. Dividend received -650,000. Investment adjustment -91,499.”

“The process has not changed from the prior year.”