Cascade Capital Funding

“During the fiscal year, cascade west financial services had 3 contracts with mid-willamette valley council of governments (mwvcog) one for the executive directors services. The executive director was an employee of mwvcog, this contract was terminated in october 2013. Mwvcog was also the fiscal agent for cascade west financial services, inc,. The final contract was for loan marketing & origination and this contract is still in effect.”

“From by-laws, article 2m sections a & b: the corporation is a non-profit corporation which shall have no less than 25 voting members. The board is authorized and given discretion to accept any individual agency, governmental unit, business organization, assocation, or leading instituion as a member of this corporation.”

“A member of the corporation may elect one or more members of the board. Contractors providing services to cwfsi can serve as members but are specifically prohibited from serving as a voting member.”

“Decisions of the governing board are subject to approval by voting members of the corporation.”

“The executive director forwards the form 990 to the president, vice president,and secretary-treasurer for review.”

“The board approved the director services agreement with mwvcog, which provided the executive director to cwfsi for part of fye 2014. The new executive director's salary was approved by the oversight committee.”

“The organization's governing documents, conflict of interest policy, and financial statements are available to the public upon request.”

“The organization has a committee that assumes responsibility for oversight of the audit of its finanical statements and selection of an independent accountant.”