Winnarainbow Inc

“A board director (hugh romney) and the director emerita (jahanara romney) are married. These are the founders of the organization.”

“Several members of the board are also partners/investors of the property that the organization rents space from. See schedule l for details.”

“Members of the board's finance committee and chief finance officer reviewed the form 990 before the retrun was filed.”

“The organization monitors the conflict of interest policy annually and each new board member is made aware of the policy which is contained in the organizations bylaws. Procedures 1. Duty to disclose in connection with any actual or possible conflict of interest, an interested person must disclose the existence of the financial interest and be given the opportunity to disclose all material facts to the directors, who are considering the proposed transaction or arrangement. 2. Determining whether a conflict of interest exists after disclosure of the financial interest and all material facts, and after any discussion with the interested person, the board shall decide if a conflict of interest exists by further discussing the matter and voting. 3. Procedure for addressing the conflict of interest in the event that the board determines that a proposed transaction or arrangement presents a conflict of interest, the board shall take the following actions: (a) an interested person may make a presentation at the board meeting, but after the presentation, he/she shall abstain from the vote on the transaction or arrangement involving the possible conflict of interest. The interested party may elect or be asked to leave the portion of the meeting that is the discussion and the vote. (b) after exercising due diligence, the board shall determine by a majority vote of the disinterested directors whether the transaction or arrangement is in the corporation's best interest, for its own benefit, and whether it is fair and reasonable. It shall make its decision as to whether to enter into the transaction or arrangement in conformity with this determination. 4. Violations of the conflict of interest policy if the board has reasonable cause to believe an interested person has failed to disclose actual or possible conflicts of interest, it shall inform the interested person of the basis for such belief and afford the interested person an opportunity to explain the alleged failure to disclose. If, after hearing the interested person's response and after making further investigation as warranted by the circumstances, the board determines the interested person has failed to disclose an actual or possible conflict of interest, it shall take appropriate corrective action. 5. Records and procedures: the minutes of the board and shall contain: (a) the names of the persons who disclosed or otherwise were found to have a financial interest in connection with an actual or possible conflict of interest, the nature of the financial interest, any action taken to determine whether a conflict of interest was present, and the board's decision as to whether a conflict of interest in fact existed. (b) the names of the persons who were present for discussions and votes relating to the transaction or arrangement, the content of the discussion, including any alternatives to the proposed transaction or arrangement, and a record of any votes taken in connection with the proceedings. 6. Annual statements each director, principal officer and member of a committee with board-delegated powers shall annually sign a statement which affirms such person: (a) has received a copy of the conflict of interest policy; (b) has read and understands the policy; (c) has agreed to comply with the policy; and (d) understands the corporation is charitable and in order to maintain its federal tax exemption it must engage primarily in activities, which accomplish one or more of its tax-exempt purposes.”

“The interim executive director consults with the chief financial officer to create a draft budget that includes suggestions for all non-union staff salaries. Union staff salaries are determined by the cba as negotiated by the interim executive director and union negotiating committee. Then the managing director and cfo meet with the board co-chairs and treasurer for comments and changes and general financial overview. The final budget is presented to the full board for approval at the annual board meeting.”

“The organization makes its form 1023 and form 990 available for public inspection upon request.”

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