Magic Valley Arts Council Inc.

“The Board Treasurer conducts the initial 990 review in consultation with the tax return CPA. The Treasurer then presents the form 990 to the entire board for consideration and authorization of signature.”

“The Magic Valley Arts Council adheres to a Conflict of Interest Policy that includes definitions regarding interested person, financial interest, and independent director. The policy provides procedures for duty to disclose; recusal of self; determining whether a conflict exists; procedures for addressing a conflict of interest; and, for violations of the conflict of interest policy. The policy provides a provision for creating and maintaining documentation of the records of proceedings regarding conflicts. The policy precludes compensated directors from voting on matters pertaining to compensation. An annual review of the policy is conducted by the Board of Directors with each director, principal officer and committee members affirming receipt and understanding of the policy.”

“The Board of Directors reviews the compensation policy annually and establishes and approves compensation for the executive director for the coming year.”

“The Board of Directors reviews the compensation policy annually and establishes and approves compensation for officers and key employees for the coming year.”

“The Board of Directors maintains a policy of keeping governing documents, tax returns, and operational policies and procedures available for public review. These documents are available upon request through the main office of the Magic Valley Arts Council.”

“Other expenses include program specific expenses of 87115 and operational expenses of 183046.”