The Ryman-Carroll Foundation

“The form 990 is reviewed by the operations manager, the executive director, and the board treasurer and presented to the full board for review and acceptance prior to being finalized. In depth review is done by the operations manager, executive director, and the board treasurer in draft form. The draft is then distributed to all board members electronically prior to being filed so that the board members will have the opportunity to review it and address any questions to the executive director, treasurer, and tax preparer.”

“The organization has a conflict of interest policy which applies to directors, officers, and employees, and to volunteers who have budget responsibility. The policy explains areas in which conflicts may arise with third parties; and the nature of conflicting interests, both directly or indirectly with persons or entities. Transactions with parties with whom a conflicting interest exists may be permitted only if all of the following requirements are met: a)the conflicting interest must be fully disclosed as described below; b)the person with the conflict of interest must be excluded from discussion and approval of the transaction; c)a competitive bid or comparable valuation just exist; and d)the board or a duly constituted committee thereof must determine that the transaction is in the best interests of ryman arts. Disclosure should be made directly or indirectly to the president, who shall bring the matter to the attention of the board or a duly constituted committee thereof. The decision of the board or such committee thereof will be in its sole discretion. Each director, officer, employee or volunteer with budget responsibility is required to submit an annual conflict of interest disclosure form by february 15th of each year. The board or its appointed committee reviews the forms and addresses any potential or actual conflicts.”

“Ryman art's board of directors has a process for reviewing and approving the compensation of officers and key employees on a regular basis to determine it is fair and reasonable with the goal of retaining employees at compensation levels within appropriate market range. The process for determining the compensation paid to the executive director includes the approval of the compensation arrangement in advance, with all persons with a conflict of interest abstaining from the deliberation and discussion of the transaction. The executive committee of the board reviews data of comparable compensation for similarly qualified nonprofit executives at similarly situated entities, including an analysis of southern california nonprofit management field surveys. Also, an outside compensation consultant is utilized. The documentation in the minutes includes the terms of the transaction and the date of approval, the members who were present during the debate and vote on the transaction, a description of the comparable data and how it was obtained, and documentation of the basis for the determination.”

“Current federal tax law does not require that the organization's governing documents, conflict of interest policy or financial statements be made available for public inspection.”

“Ryman-carroll foundation has an audit committee that assumes the responsibility for oversight of the audit or its financial statement and selection of an independent accountant.”