Kadena Officers Spouses Club

“The KOSC Board members serve as officers of the organization. These officers are the voting members responsible for oversight of the organization and its membership, as well as the Kadena Gift Corner and its employees.”

“The prepared Form 990 and related schedules are provided to the Executive Board prior to the Executive Board meeting. The Form 990 and related schedules are reviewed and approved by the Executive Board at that meeting prior to filing with the IRS.”

“Whenever a member of the Executive Board or BOG has a financial or personal interest in any matter coming before the board, the affected person shall a) fully disclose the nature of the interest and b) withdraw from discussion, lobbying, and voting on the matter. Any transaction or vote involving a potential conflict of interest shall be approved only when a majority of disinterested board members determine that it is in the best interest of the organization to do so. The minutes of meetings at which such votes are taken shall record such disclosure, abstention, and rationale for approval.”

“Officers, Executive Board members, and Board of Governors members serve on a volunteer basis and receive no compensation. The Operations Manager, Merchandising Manager, sales associates, and bookkeeper of the Kadena Gift Corner are compensated employees. Compensation is reviewed and approved by the Executive Board Salary Committee prior to payment and is determined based on prior wages paid by the Kadena Gift Corner and the expected hours worked. The Kadena Gift Corner provides funding for the overall activities of the Kadena Officers Spouses Club, and employee wages are minimal and comparable to similar retail operations on other military installations in Okinawa.”

“The compensation review and approval process for key employees is the same as the process described in Schedule O for Part VI, Line 15a.”

“Each Executive Board member maintains copies of the organizations governing documents and conflict of interest policy in their continuity binders. Individuals requesting access to these documents or to the organizations financial statements may contact any member of the Executive Board to arrange a review. Annual financial statements are maintained at the Kadena Gift Corner, located in Building 436 on Kadena Air Base. Monthly financial statements for the Kadena Gift Corner, General Fund, and Charitable Fund are prepared by the respective bookkeeper or treasurer. Each preparer maintains copies of their reports in their continuity binder. Continued. Monthly financial statements are provided to the Executive Board prior to its monthly meetings, and the review of these reports is documented in the meeting minutes maintained by the Recording Secretary. Requests to view these documents may be made through any Executive Board member, who will assist in providing access.”