Southampton Playhouse Inc.

“A draft of the return is reviewed in detail by the board chairman, treasurer, and accounting team prior to filing with the irs.”

“Each director, officer, member of a committee of the board, and key employee must complete and submit to the secretary a disclosure statement naming the entities conducting business with the corporation in which he, she, or a family member is a director, trustee, officer, committee member, or employee or has a material financial interest. The secretary will review the information and periodically distribute reports to all directors. Whenever any director, officer, committee member, or employee of the corporation becomes aware that the corporation is considering a transaction that potentially creates a conflict of interest, he or she is obligated to notify the board and to disclose all material facts relating to his or her interest in the transaction. The board will determine whether an actual conflict of interest exists and take action that the board deems appropriate. The interested person may not be present when the board makes its determination other than to answer questions. If no conflict of interest is found to exist, the minutes of the meeting must record the basis of the board's determination. If the board determines that a transaction would create a conflict of interest, the transaction must be approved in advance by only those board members who do not have a conflict with respect to the transaction. Any interested person therefore must recuse him- or herself from consideration of the transaction. He or she may not vote on the transaction or be present when the vote is taken. Interested persons, however, may be counted for the purpose of determining whether a quorum exists at the meeting even though they are temporarily absent while the transaction is considered.”

“Documents are provided upon request.”