The Osluv Project

“Current plans include contracting for engineer and administrative services through openaerso llc, a minnesota based limited liability company where aaron collins and chia hua pang meet the defined threshold. Additionally, engineering contract services may be contracted through entropic engineering llc, a minnesota based limited liability company, where chia hua pang and rachel andreasen meet the defined threshold. To ensure all transactions are negotiated at arm's length, parties will comply with the conflict of interest policy at osluv. Additionally, these arrangements will be based on information about compensation paid by similarly situated taxable or tax-exempt organizations for similar services, current compensation surveys compiled by independent firms, or actual written offers from similarly situated organizations. Current plans include an office space sub-lease from entropic engine.”

“There are no committees with the authority to act on behalf of the board.”

“The form 990 is prepared by an independent public accounting firm using information provided by the organization. Once a draft is available, it is reviewed and approved by the board before filing with the irs.”

“Each board member, officer, member of a committee with board-delegated powers, and employee annually signs a statement that affirms that such person 1. Has received a copy of the conflict-of-interest policy, 2. Has read and understands the policy, 3. Has agreed to comply with the policy and, 4. Understands that the osluv project is a charitable organization and that to maintain its federal tax exemption, it must engage primarily in activities that accomplish one or more of its tax-exempt purposes. After disclosure of a financial interest and material facts and after discussion with the interested person, they shall leave the meeting while the determination of a conflict of interest is discussed and voted upon. The remaining board or committee members shall decide if a conflict of interest exists. Results of the proceedings are recorded in the organization's meeting minutes.”

“The organization makes its governing documents, conflict of interest policy, forms 1023 and 990 and financial statements available upon request.”

“Research & development contractors: program service expenses 97,318. Management and general expenses 67,795. Fundraising expenses 0. Total expenses 165,113. Other professional fees: program service expenses 37,432. Management and general expenses 26,076. Fundraising expenses 0. Total expenses 63,508.”

“This process has not changed since prior year.”