| FORM 990, PART VI, SECTION B, LINE 11 |
INDEPENDENT FINANCIAL AUDIT RESOURCE MEDIA HIRES AN INDEPENDENT AUDIT AND TAX FIRM TO PERFORM AN AUDIT OF OUR FINANCIAL STATEMENTS AND TO PREPARE THE FORM 990. THE RESPONSIBILITY OF HIRING THE AUDITOR RESTS WITH THE AUDIT COMMITTEE. ONCE THE AUDITED FINANCIAL STATEMENTS ARE COMPLETE AND HAVE BEEN APPROVED BY THE AUDIT COMMITTEE, THE AUDIT/TAX FIRM USES THE FINANCIALS TO PREPARE THE DRAFT FORM 990. STAFF REVIEW THE PRELIMINARY REVIEW OF THE DRAFT FORM 990 IS CONDUCTED BY RESOURCE MEDIA'S FINANCE DIRECTOR. ONCE THE FINANCE DIRECTOR HAS PERFORMED AN INITIAL REVIEW AND RECEIVED ANY CORRECTED VERSIONS FROM THE AUDIT/TAX FIRM, THE FINANCE DIRECTOR FORWARDS A DRAFT VERSION TO THE PRESIDENT/CEO. BOARD REVIEW ONCE RESOURCE MEDIA STAFF HAS COMPLETED REVIEW OF THE DRAFT FORM 990, A COPY IS FORWARDED TO THE BOARD CHAIR AND FINANCE COMMITTEE MEMBERS FOR THEIR REVIEW. THE BOARD TREASURER, WHO CHAIRS THE FINANCE COMMITTEE, IS RESPONSIBLE FOR GATHERING INPUT FROM THE MEMBERS OF THE FINANCE COMMITTEE. BASED UPON FEEDBACK FROM THE FINANCE COMMITTEE, THE BOARD CHAIR WILL DETERMINE THE NEED FOR A CONFERENCE CALL WITH RM STAFF AND/OR AUDIT/TAX FIRM TO REVIEW QUESTIONS OR CONCERNS. THE BOARD CHAIR WILL GIVE FINAL BOARD APPROVAL ON THE FORM 990. ONCE THE PRESIDENT AND FINANCE DIRECTOR HAVE RECEIVED FINAL APPROVAL FROM THE BOARD CHAIR OF THE FORM 990, THE PRESIDENT WILL SIGN THE REQUIRED FORMS PRIOR TO SUBMISSION TO THE IRS. THE FINAL VERSION OF THE FORM 990 IS PROVIDED TO ALL BOARD MEMBERS PRIOR TO FILING WITH THE IRS. A SCANNED COPY WILL BE RETAINED FOR PUBLIC REVIEW IF REQUESTED. |
| FORM 990, PART VI, SECTION B, LINE 12C |
THE ORGANIZATION REQUIRES EACH OF ITS BOARD MEMBERS TO AGREE TO THE FOLLOWING CONFLICT OF INTEREST POLICY: (1) EACH BOARD MEMBER WILL COMPLETE ANNUALLY A CONFLICT OF INTEREST DISCLOSURE STATEMENT AND AGREE TO FULLY DISCLOSE POTENTIAL CONFLICTS TO THE BOARD AND TO THE CEO AND PRESIDENT WHEN THEY OCCUR SO THAT OTHER BOARD MEMBERS WHO ARE VOTING ON AN ISSUE ARE AWARE THAT ANOTHER MEMBER'S INTERESTS MAY BE AFFECTED. (2) BOARD MEMBERS WILL BE REQUIRED TO WITHDRAW - MEANING THEY SHOULD NOT BE PART OF THE DISCUSSION NOR VOTE - ON DECISIONS THAT PRESENT A POTENTIAL CONFLICT FOR HIM OR HER. (3) THE BOARD IN CONSULTATION WITH THE BOARD CHAIR WILL DETERMINE WHETHER A CONFLICT EXISTS AND IS MATERIAL, AND IN THE PRESENCE OF AN EXISTING MATERIAL CONFLICT, DETERMINE WHETHER THE CONTEMPLATED TRANSACTION MAY BE AUTHORIZED AS JUST, FAIR, AND REASONABLE TO THE PROJECT. (4) THE BOARD WILL RECORD IN ITS MEETING MINUTES THE POTENTIAL CONFLICT OF INTEREST, AND WILL DOCUMENT THAT THE PROCEDURES AND CRITERIA OF THIS POLICY HAVE BEEN FOLLOWED IN HANDLING THE CONFLICT. |
| FORM 990, PART VI, SECTION B, LINE 15 |
THE ORGANIZATION USES AN OUTSIDE COMPENSATION CONSULTANT TO DO A SALARY SURVEY PERIODICALLY. THE MANAGEMENT COMMITTEE OF THE BOARD USES THIS DATA TO SET COMP LEVELS FOR THE LEADERSHIP POSITIONS. |
| FORM 990, PART VI, SECTION C, LINE 19 |
AVAILABLE UPON REQUEST. |
| FORM 990, PART IX, LINE 11G |
CONSULTANTS: PROGRAM SERVICE EXPENSES 503,926. MANAGEMENT AND GENERAL EXPENSES 7,758. FUNDRAISING EXPENSES 3,526. TOTAL EXPENSES 515,210. |
| FORM 990, PART XII, LINE 2C |
THE COMMITTEE'S OVERSIGHT PROCESS OF THE AUDIT AND THE PROCESS FOR SELECTION OF AN INDEPENDENT ACCOUNTANT HAVE NOT CHANGED. |
Attach to Form 990 or 990-EZ.