Attach to Form 990 or 990-EZ.| Identifier | Return Reference | Explanation |
|---|---|---|
| FORM 990, PART VI, SECTION B, LINE 11 | A FORMAL REVIEW OF THE IRS FORM 990 IS COMPLETED BY THE BOARD OF DIRECTORS' FINANCE COMMITTEE. ONCE THE FINANCE COMMITTEE REVIEWS THE IRS FORM 990, ALL DIRECTORS ARE PROVIDED A COPY AND GIVEN AN OPPORTUNITY OF INPUT PRIOR TO SUBMISSION TO THE IRS. | |
| FORM 990, PART VI, SECTION B, LINE 12C | VINFEN CORPORATION DISTRIBUTES THE CONFLICT OF INTEREST POLICY AND DISCLOSURE ANNUALLY OR BI-ANNUALLY TO DIRECTORS, OFFICERS, AND KEY EMPLOYEES AND REVIEWS THE RESPONSES FOR POTENTIAL CONFLICTS. THE CONFLICT OF INTEREST POLICY COVERS ALL DIRECTORS OF VINFEN CORPORATION AND ITS AFIILIATED ENTITIES, AS WELL AS THE SENIOR MANAGEMENT (THE INTERDEPARTMENTAL COUNCIL OR "IDC") AT VINFEN CORPORATION AND AFFILIATES. THE GENERAL COUNSEL REVIEWS THE DISCLOSURE FORMS TO DETERMINE WHICH DIRECTORS OR IDC MEMBERS HAVE DISCLOSED A POTENTIAL CONFLICT. FOR POTENTIAL BOARD CONFLICTS, THE CHAIRPERSON OF THE BOARD OF DIRECTORS APPOINTS A COMMITTEE OF DIRECTORS (WITH NO REPORTABLE CONFLICTS) TO REVIEW THE DETAILS OF ANY REPORTED POTENTIAL CONFLICTS AND/OR PROPOSED BUSINESS TRANSACTIONS. THE COMMITTEE THEN MAKES A RECOMMENDATION FOR APPROVAL BY THE FULL BOARD, WHICH IS VOTED ON ONLY BY THOSE DIRECTORS WITH NO REPORTABLE TRANSACTIONS. FOR POTENTIAL CONFLICTS BY IDC MEMBERS, THE CEO APPOINTS A COMMITTEE OF IDC MEMBERS (WITH NO REPORTABLE CONFLICTS) TO REVIEW THE DETAILS OF ANY REPORTED POTENTIAL CONFLICTS AND PROPOSED BUSINESS TRANSACTIONS. THE COMMITTEE THEN MAKES A RECOMMENDATION FOR APPROVAL BY THE EXECUTIVE TEAM, WHICH IS VOTED ON ONLY BY THOSE EXECUTIVE TEAM MEMBERS WITH NO REPORTABLE TRANSACTIONS. | |
| FORM 990, PART VI, SECTION B, LINE 15 | THE BOARD OF DIRECTORS PERIODICALLY ENGAGES THE SERVICES OF AN OUTSIDE COMPENSATION AND BENEFITS CONSULTANT TO DETERMINE THE COMPETITIVENESS OF THE TOTAL COMPENSATION PAID TO CORPORATE OFFICERS AND KEY EMPLOYEES. THE COMPENSATION COMMITTEE OF THE BOARD USES COMPARABLE COMPENSATION DATA TO DETERMINE THE COMPENSATION FOR THE OFFICERS AND KEY EMPLOYEES PERIODICALLY. CONTEMPORANEOUS DOCUMENTATION AND RECORD KEEPING OF ALL CONPENSATION DECISIONS EXIST, IN THE FORM OF A PERSONNEL ACTION FORM, FOR EVERY COMPENSATION ACTION AFFECTING THE POSITIONS LISTED ABOVE, AS IS THE CASE FOR EVERY POSITION AT VINFEN CORPORATION. | |
| FORM 990, PART VI, SECTION C, LINE 19 | VINFEN CORPORATION MAKES ITS GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, FORM 990, AND FINANCIAL STATEMENTS AVAILABLE TO THE PUBLIC UPON REQUEST BY PAPER OR E-MAIL. THE FORM 990 IS AVAILABLE VIA GUIDESTAR AND THE OFFICE OF THE MASSACHUSETTS ATTORNEY GENERAL'S WEBSITE. | |
| CHANGES IN NET ASSETS OR FUND BALANCES: | FORM 990, PART XI, LINE 9: | R 346,691. |
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