Los Angeles Orphanage Guild

“The form 990 is reviewed by the president and assistant treasurer. Additionally, the form 990 is provided to all members of los angeles orphanage guild board.”

“Duty to disclose. Los angeles orphanage guild's (laog) conflict of interest policy requires an interested person in connection with any actual or possible conflict of interest to disclose the existence of the financial interest, normally in the annual disclosure statement. The interested person is given the opportunity to disclose all material facts to the laog board of directors. An interested person should recuse himself or herself from any participation in any matter where an actual or possible conflict exists. In such a situation, the chair of the board will inform the board of the recusal and the interested person will not directly or indirectly participate in the matter. Interested person. An interested person is any director, principal officer, or member of a committee with board delegated powers who has a direct or indirect financial interest. A financial interest is any person who has, directly or indirectly through business, investment, or family: a) an ownership or investment interest in any entity with which laog has a transaction or arrangement; or b) a compensation arrangement with laog or with any entity or individual with which laog has a transaction or arrangement. Determining whether a conflict of interest exists. At a closed meeting of the board, after disclosure of the financial interest and all material facts, and after any discussion with the interested person, the board will determine whether a conflict of interest precluding participation in the matter by the interested person exists. Procedures for addressing the conflict of interest. An interested person may make a presentation to the board, but after the presentation he/she will leave the meeting during the discussion of, and the vote on, the transaction or arrangement involving the possible conflict of interest. The chair of the board will, if appropriate, appoint a disinterested person or committee to investigate alternatives to the proposed transaction or arrangement. After exercising due diligence, the board will determine whether laog can obtain with reasonable efforts a more advantageous transaction or arrangement from a person or entity that would not give rise to a conflict of interest. If a more advantageous transaction or arrangement is not reasonably possible under circumstances not producing a conflict of interest, the board will determine by a majority vote of the disinterested directors whether the transaction or arrangement is in laog's best interest, for its own benefit, and whether it is fair and reasonable. In conformity with the above determination it will make its decision as to whether to enter into the transaction or arrangement.”

“Governing documents, the conflict of interest policy, and financial statements are available to the public upon request. However, current tax law does not require governing documents, the conflict of interest policy, and financial statements be provided to the public.”