Los Angeles Commercial Realty Assoc

“Classes of members executive members: directly elect 7 of the 14 members of the governing body, separate from the non-voting member slate; approve changes to articles of incorporation and bylaws, and vote on dissolution and distribution of all or substantially all assets; receive a pro rata distribution of assets upon dissolution. Non-voting members: directly elect 7 of the 14 members of the governing body, separate from the executive member slate.”

“See 6a description for initial governing body election. Governing board appoints/approves vacancies.”

“See descriptions for 6a and 7a.”

“Line 11b explanation - the executive director or a person authorized by the executive director will provide a copy of the 990 to all board members either by hard copy and or electronically for review prior to the filing date of the 990 tax form. All board members, officers and directors will be afforded the opportunity to ask questions and offer edits. The decision of whether to make edits will be made by the staff person in charge of finances within the organization in conjunction and consultation with lacra's tax preparer.”

“Annually, each director will complete a director statement provided by the organization corporation in substantially the form of exhibit a. The director statement will be returned by each director to the executive director, who will review the director statement and present to the board any conflict transactions that have not otherwise been disclosed to the board. No director shall disclose, except to directors and personnel of the organization, any confidential information obtained through his or her association with the organization. The term "confidential information" includes information, however promulgated, whether spoken, written or in electronically generated form, relating to the business of the organization which is not in the public domain and is not otherwise known to the director from a source other than the organization. The organization shall comply with all applicable laws and regulations and with this policy. Likewise, each director shall comply with such laws and regulations and such of this policy as may be applicable to such individual as a director. The board of directors shall also comply, in its operation, with all applicable laws and regulations. In particular, the organization, the board and each director shall comply with applicable provisions of the internal revenue code and the regulations promulgated thereunder so that the activities of the organization further its charitable purpose and do not result in inurement, impermissible private benefit or excess benefit transactions or otherwise adversely affect the corporation's tax exemption. The organization shall take appropriate remedial and corrective action with respect to any violation of this policy.”

“Each year, the lacra board reviews the performance of the executive director. After deliberation, a new proposed salary is voted on by the lacra board of directors. The minutes of the board of directors will reflect the nature of this process. The lacra executive director position is a part-time, salaried position, and no benefits are offered in addition to the stated salary compensation. Any year-end compensation is at the discretion of the lacra board of directors. In setting compensation, the lacra board of directors may consider, among other things, equitable relationship with other jobs within the organization and the organization's ability to pay.”

“No other documents available to the public.”

“This is the statement included with every solicitation that contributions to our organization are not tax deductible: "lacra is a 501(c)(6) non-profit corporation. While contributions to a 501(c)(3) charitable organization are tax deductible by the donor, donations to a 501(c)(6) are not tax deductible. Contributions to a 501(c)6) may be reported as a business expense."”