'Olelo Community Television

“The form 990 is first reviewed by executive management and the board finance committee chair. The form is then reviewed by the board finance committee. The committee informs the board of directors regarding the review.”

“1. Directors and employees must complete and submit a disclosure form: (a) upon becoming affiliated with 'olelo and annually thereafter; and (b) whenever a potential conflict of interest arises. Disclosure forms must be submitted to the chief executive or operating officer. 2. Upon receipt of a disclosure form, the chief executive or operating officer (if not himself/herself an interested person) will review the form. If the disinterested chief executive or operating officer believes a potential conflict of interest may exist, the interested person will be given an opportunity to disclose all material facts regarding the financial interest to the disinterested chief executive or operating officer. 3. After disclosure of the financial interest and all material facts, the disinterested chief executive or operating officer must determine whether the potential conflict involves a matter within the responsibility of the president/chief executive officer and his/her subordinates ('olelo matter) or the board of directors (board matter). 4. For company matters, the disinterested chief executive or operating officer must determine, after exercising due diligence and in consultation with the disinterested president/chief executive officer, if applicable: (a) whether a conflict of interest exists; and, if so (b) whether 'olelo can obtain with reasonable efforts a more advantageous transaction or arrangement from a person or entity that would not give rise to a conflict of interest. 5. If the chief operating officer is an interested party, the disinterested president/chief executive officer shall undertake the analysis and determinations described in paragraphs 2, 3 and 4 above. 6. For board matters, the finance committee, through its disinterested members, must determine, after exercising due diligence: (a) whether a conflict of interest exists; and, if so (b) whether 'olelo can obtain with reasonable efforts a more advantageous transaction or arrangement from a person or entity that would not give rise to a conflict of interest. 7. The disinterested finance committee shall present its determination to the disinterested board of directors for approval. 8. If a more advantageous transaction or arrangement that does not present a conflict of interest is not reasonably possible under the circumstances, the disinterested decision makers shall determine: (a) whether the transaction or arrangement is in 'olelo's best interest, for its own benefit; and (b) whether the terms and conditions of the transaction or arrangement are fair and reasonable. 9. If the transaction or arrangement is not in conformity with the above standards, then 'olelo shall refrain from entering into the transaction or arrangement. 10. 'olelo's chief executive or operating officer shall maintain records of all disclosures, determinations, and resolutions.”

“The board of directors reviews all comparability data with similar organizations in the local community.”

“The organization does not make its governing documents, conflict of interest policy, and financial statements available to the general public.”

“As part of an agreement with the state, 'olelo receives funds directly from the local cable franchises that are restricted for public, educational, and governmental (peg) access operations and facilities and equipment. Peg revenue is recognized based on contractual terms.”

“This process has not changed from the prior year.”