Labor Temple Association of Santa Clara

“Categories of stockholders: the labor temple association is organized as a stock corporation with a total of 2,508 outstanding common stock. Shareholders can only consist of labor unions which are chartered by the afl-cio.”

“Eligibility to vote on election of governing body: directors shall be elected or appointed from among the membership of each local union shareholder. The name of the director so selected shall be certified by the local union shareholder governing board or officer to the board of directors of this corporation.”

“Eligibility to vote on decisions approved by the governing body: common stock shareholders are eligible to vote on decisions approved by the governing body including but not limited to the election or removal of officers of the governing body. Each shareholder has the number of votes their representing local union owns in common stock shares.”

“The form 990 is reviewed by the board of directors for completeness and accuracy prior to filing of the form. Any questions arising during this review process are resolved prior to filing.”

“The bylaws contain a standard of care policy however this policy is not regularly and consistently monitored. There are only a few individuals involved in the organziation and the activities and transactions are transparent and therefore no formal documentation of monitoring is considered necessary.”

“Process of determining compensation of officers/directors: as set forth in the organization's bylaws, no salary for services rendered is allowed for officers other than a fixed sum amount approved by the board of directors for attendance to each of the organization's regular or special meetings, except for officers serving in other capacities. The president provides additional management services and is compensated for these services and the board of directors has approved compensation for these services.”

“The organizaion makes its governing documents, conflict of interest policy, and financial statements available to the public upon request.”

“The organization is a title holding organization with no employees. Operations are limited to collecting rent and paying bills which is done by the president. As such, a whistleblower policy is not considered necessary.”