Korean Resource Center Inc

“Describe the process used to review the form 990: copies of the form 990 are distributed to all board members prior to filing. A review and approval is conducted by a committee selected by the board.”

“Please describe how the organization annually monitors compliance with their conflict of interest policy: THE ORGANIZATION HAS A CONFLICT OF INTEREST POLICY THAT COVERS ALL OFFICERS, DIRECTORS, AND EMPLOYEES (COVERED PERSONS). TO PROPERLY MONITOR AND ENFORCE A CONFLICT OF INTEREST POLICY, THE ORGANIZATION IS DILIGENT IN REVIEWING THE ANNUAL DISCLOSURE FORMS SUBMITTED BY COVERED PERSONS, AND IN COMPILING AND MAINTAINING A LIST OF POTENTIALLY CONFLICTED ENTITIES AND INDIVIDUALS. PROPOSED TRANSACTIONS ARE MATCHED AGAINST THE LIST AS A MEANS OF IDENTIFYING POSSIBLE CONFLICTS. THE BOARD PRESIDENT IS ULTIMATELY RESPONSIBLE FOR MAINTAINING THE LIST AND SCREENING FOR POSSIBLE CONFLICTS OF INTEREST WHEN DEALING WITH MAJOR VENDORS AND SERVICE PROVIDERS. THE ORGANIZATION REQUESTS THAT THE VENDOR OR SERVICE PROVIDER TO DISCLOSE ANY RELATIONSHIP PERSONAL, FINANCIAL, OR OTHERWISE THAT THE VENDOR OR SERVICE PROVIDER HAS WITH ANY OF THE ORGANIZATION'S DIRECTORS, OFFICER, EMPLOYEES OR VOLUNTEERS. IF THE BOARD IDENTIFIES ANY POTENTIAL OR ACTUAL CONFLICT OF INTEREST, WHEN AN EMPLOYEE HAS ANY QUESTIONS CONCERNING WHETHER A PROPOSED ACTION MIGHT POSE A CONFLICT OF INTEREST, THAT EMPLOYEE MUST ASK FOR REVIEW OF THE PROPOSED ACTION BY THE EXECUTIVE DIRECTOR. THE EXECUTIVE DIRECTOR MAY REQUIRE THAT THE REQUEST BE PUT IN WRITING, AND MAY RESPOND FORMALLY, IN ORDER TO DOCUMENT THE REVIEW PROCESS. SUCH PERSONS ARE PROHIBITED FROM PARTICIPATING IN THE GOVERNING BODY'S DELIBERATIONS AND DECISIONS IN THE TRANSACTION.”

“Please describe the process for determining compensation of officers and key employees include a review and approval by independent persons, comparability data and contemporaneous substantiation of the deliberation and decision: THE ORGANIZATION'S BOARD OF DIRECTORS HAS A PROCESS FOR REVIEWING AND APPROVING THE COMPENSATION OF THE EXECUTIVE DIRECTOR 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 BOARD REVIEWS DATA OF COMPARABLE COMPENSATION FOR SIMILARLY QUALIFIED NONPROFIT EXECUTIVES AT SIMILARLY SITUATED ENTITIES. THE DOCUMENTATION IN THE CORPORATE MINUTES BOOK 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.”

“The organization makes its governing documents, financial statements and tax filings available to the public in the following manner: THE GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY AND FINANCIAL STATEMENTS ARE AVAILABLE TO THE GENERAL PUBLIC UPON REQUEST. THEY ARE ALSO AVAILABLE AT THE ORGANIZATION'S OFFICE DURING REGULAR BUSINESS HOURS.”

“Krc's mission is as follows, -educate the public on issues affecting korean americans; -advocate for the civil rights and immigrant rights of korean americans; -facilitate grassroots organizing and electoral/civic participation of korean americans; - work for community economic development and housing issues; - initiate dialogue and build coalitions with other communities of color; - preserve and promote the cultural heritage of korean americans as part of a multicultural america; and - provide needed social and community services to traditionally marginalized groups.”