Island Press - Center for Resource Economics

“Form 990 is reviewed and approved by all board members prior to being filed.”

“All interested persons submit an annual statement disclosing any potential or existing conflicts of interest to the presisdent and the board. The board reviews the information in the request and takes appropriate action. The board shall determine, after receiving a disclosure, whether a conflict of interest exists, or can reasonably be construed to exist. If a conflict of interest is known or deemed to exist after disclosure, the board or the committee, as applicable, shall not approve the contract with the interested party unless it is determined that (a) entering into such contract is in the best interest of island press, (b) the contract is fair and reasonable to island press, and (c) a more advantageous contract cannot be obtained under the circumstances. Additionally, the board or the committee, as applicable, shall take any action required or prudent to avoid imposition of an excise tax under internal revenue code section 4958 in connection with considering such contract. The board maintains detailed minutes and records regarding the matter. Such records reflect the name of the interested person and any disclosure made, the vote on whether a conflict of interest is present, the names of the persons participating in any discussions and deliberations with regard to approving or rejecting the contract involving the interested person and the substance of such discussions and deliberatons, adherence with the procedures described above, the abstention from voting and participation by the interested person, and that a quorum was present. In the event an interested person fails to act in accordance with this conflicts of interest policy, the board may take corrective action against such person. In the event that a formal reprimand, or in an extreme case, the removal of such person from his or her position(s), is proposed, such recommendation must be presented with supporting documentation. The interested person involved shall be given an opportunity to be heard prior to the board's final decision on the matter.”

“Compensation for new officers/employees is reviewed and approved prior to offer by the cfo. Overall levels of compensation for staff are reviewed anually by the board during the budget approval process. For officers and key employees, island press routinely utilizes benchmark studies and independent review of market compensation data from both tax-exempt and nonexempt organizations prepared by independednt compensation consultants at the time of hiring or when adjustments are made. An executive committee of the board of directors regularly references peer group data in its annual review and approval of the compensation of the president. No persons with a conflict of interest with respect to the compensation arrangement were involved in the approval process. Island press maintains documentation respecting the process.”

“The governing documents, conflict of interest policy, and financial statements are available to the public upon request in electronic or hardcopy format.”

“Other: program service expenses 379,311. Management and general expenses 48,483. Fundraising expenses 0. Total expenses 427,794. Program production: program service expenses 4,278. Management and general expenses 967. Fundraising expenses 745. Total expenses 5,990.”

“The organization has an audit committee which is responsible for the oversight of its financial statements and the slection of an independent accountant.”