Oregon State Pharmaceutical Association

“The management company, Update Management, Inc., provides general office and administrative services for the association, as directed by the governing body, including: an association office, communications, financial services, meeting and event planning, membership management, support to the Board of Directors and committees, and other management services as needed. No current or former directors, officers, trustees, key employees or highest compensated employees were compensated by the management company during the tax year.”

“The Association is organized as a not-for-profit professional association with an elected Board of Directors that serves as the governing body, as well as voting members who have approval and input into significant decisions of the governing body.”

“Association members have voting rights to elect members of the Board of Directors and to make amendments to the association's bylaws. The bylaws can be amended by a two-thirds vote of the members present. All members also have input into the association's activities via the Board of Directors.”

“Prior to the Board of Directors receiving a copy of the Form 990, the accountant and management company conduct a review of the document to verify the accuracy of its contents. The members of the Board of Directors then receive a copy of the complete Form 990 along with a summation of it, before it is filed with the IRS. The Board is given time to review the document and ask questions or clarify information. After the review is complete, the e-file Form 8879-EO (for the Form 990) is signed and the accountant is then instructed to file the Form 990 with the IRS.”

“The Association's Conflict of Interest Policy covers the Board of Directors, officers, and staff. Persons covered by this policy review it annually and are required to disclose potential conflicts to the President. The President then follows the guidelines in the policy to determine the next steps including, but not limited to, disclosure to the board, recusal from discussions and/or decisions, and resignation. In addition, the association's staff will monitor proposed or ongoing transactions for conflicts of interest and disclose them with the President of the Board of Directors in order to deal with potential or actual conflicts, whether discovered before or after the transaction has occurred.”

“The Association makes copies of our governing documents (Articles of Incorporation, Bylaws, and Policies--including the Conflict of Interest policy), Form 990, and any other legally required documents, available for public inspection by request in person at the association office or in writing.”