Palama Settlement

“The organization's business manager and executive director work closely with the outside accounting firm it engages to review the return and provide any additional information requested. The form 990 is primarily reviewed by the outside accounting firm and by the organization's executive director and business manager. A copy of the form 990 is provided to the board prior to its submission with the irs.”

“During the new board of trustee orientation, the executive director discusses palama settlement's conflict of interest policy and the new trustee signs acknowledgement of receipt of the written policy. The policy is reviewed and discussed annually with the trustees at the full board meeting in january. Should potential conflicts of interests arise during the year, the trustee is given the opportunity to disclose all material fact. After disclosure and after any discussion with the interested person, he/she is recused from the meeting while the determination of a conflict of interest is discussed and voted upon. Should the remaining board decide that a conflict of interest exists, the interested person is recused from all further and future discussions and voting on matters to which the conflict exists.”

“The executive director has the duties of the chief executive officer and therefore her compensation is reviewed in accordance with the organization's by-laws which call for periodic reviews to determine whether compensation arrangements and benefits are reasonable, based on competent survey information, and the result of arm's length bargaining. This may include the use of outside experts. The board ensures that no one involved in the deliberations of the executive director's compensation has a conflict of interest, and the deliberations and decisions are contemporaneously documented. No officers of the board are compensated. The organization has determined there are no employees that meet the definition of key employees.”

“The articles of incorporation are filed with the department of commerce and consumer affairs (dcca), state of hawaii, and are by nature of being recorded there, a matter of public record. The agency's by-laws are not required to be recorded with the dcca and are not required to be made available for public inspection. However, upon request, we may share such provisions as part vi which is the conflict of interest statement. The organization's/agency's 990 tax information is available on www.guidestar.com for any member of the public to access should they choose to do so.”