Hawaii Residency Programs Inc.

“The organization has one class of members. Rights include the power to change or amend the articles of incorporation and to prescribe the powers of the governing body.”

“The members set the articles of incorporation and the by-laws. By virtue of the articles of incorporation and the by-laws, members provide for the selection of all directors. Directors may amend the by-laws.”

“The form 990 is emailed to each director with instructions to review and submit any questions, comments, or concerns to the ceo. Any questions or concerns are discussed with the directors and the tax preparer.”

“Each director, principal officer and member of a committee with governing board delegated powers shall annually sign a statement which affirms such person has received a copy of the conflicts of interest policy, has read and understands the policy, has agreed to comply with the policy, and understands the organization is charitable and in order to maintain its federal tax exemption it must engage primarily in activities which accomplish one or more of its tax-exempt purposes. In addition, the organization conducts periodic reviews to ensure that it operates in compliance with this policy, consistent with charitable purposes, and does not engage in activities which could jeopardize its tax exempt status.”

“A) for ceo: if there are proposed compensation changes, the ceo submits a compensation memo to the board of directors which includes compensation history as well as local and national data on comparators for similar or closely related non-profit entities. The board of directors reviews, discusses, and votes on a compensation level. B) for other officers, key employees and managers who are compensated at or above $55,000: a compensation committee reviews each individual based on performance, standards, qualifications, experience, complexity of position and available comparators.”

“Documents required to be disclosed to the public are made available to the public upon request within the time limits required by law. Documents may be reviewed in the corporate office.”

“The organization has received a preliminary draft of audited financial statements which are subject to additional review. The draft was used to complete the return.”

“Financial statement presentation: the audited financial statements are a consolidation of hawaii residency programs, inc. (ein: 99-0215841), hawaii residency programs, inc. Trust for professional liability ("plt")(ein: 99-0257950), and hawaii residency programs, inc. Trust for graduate medical education ("gmet")(ein: 26-6303324). Plt and gmet each file a separate form 990. Therefore, this return reflects hawaii residency programs, inc.'s balance sheet on a stand alone basis not including assets, liabilities, and fund balances of plt or gmet. The presentation of the tax return has not changed since the prior year.”

“The organization's directors appoint the members of the operations and finance committee: these committee members also serve as ad-hoc audit committee. The audit committee assumes responsibility for the oversight of the financial statement review and selection of an independent accountant. The oversight process of the review of the financial statements and selection of an independent accountant has not changed from prior years.”