Marin Yacht Club

“MEMBERS”

“The membership elects the governing body of the flag officers and directors.”

“The bylaws govern decisions of the governing body.”

“A copy of the form 990 was reviewed by the treasurer. The club's policy is that the board will be provided and shall review and discuss the annual form 990, including significant schedules, prior to its filing with the internal revenue service.”

“Annually each board member/management person shall review the conflict of interest policy and sign a statement which affirms that such person has received a copy of the conflict-of-interest policy, has read and understands the policy, and has agreed to comply with the policy. Loans between the organization and members of management and the board are strictly prohibited. Th organization seeks full transparency on all relationships. Any potential conflicts (in fact or appearance) are discussed openly and resolved in accordance with the organization's policies and procedures.the minutes of any board meeting, during which a potential or actual conflict of interest was discussed, shall document the conflict and any action taken to insure that the party involved was excluded from the decision making process relating to the particular transaction.”

“The personnel committee of the board of directors reviews the compensation of all high-level personnel annually in accordance with irs rules and regulations. Efforts are made to secure compensation data from industry sources in order to determine competitiveness and appropriateness of salaries. Every effort is made to ensure that the process is thorough and transparent in accordance with irs guidelines and the organization's policies and procedures.”

“All requests for information required to be made public by law shall be honored within 10 business days. In-person requests will be honored within 4 hours.”