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FORM 990, PART VI, SECTION B, LINE 11B | THE FORM 990 WILL BE COMPLETED BY AN INDEPENDENT AUDITOR ANNUALLY AND COPIES OF THE DRAFT WILL BE PROVIDED TO THE ENTIRE GOVERNING BOARD OF DIRECTORS AS WELL AS THE EXECUTIVE DIRECTOR. THE EXECUTIVE DIRECTOR WILL REVIEW THE FORM 990 WITH THE BOARD OF DIRECTORS AND CHIEF FINANCIAL OFFICER. ANY NECESSARY CHANGES WILL THEN BE UPDATED ON THE FORM. ONCE ALL NECESSARY CHANGES ARE MADE AND THE EXECUTIVE DIRECTOR IS IN AGREEMENT WITH THE BOARD AND CFO ON THE FINISHED FORM 990, IT WILL BE SIGNED BY EITHER THE BOARD TREASURER OR SECRETARY, DATED AND SUBMITTED BY THE FILING DEADLINE. A COPY OF THE APPROVED FORM 990 WILL BE PROVIDED TO ALL OF THE OFFICERS AND DIRECTORS BEFORE THE RETURN IS FILED. |
FORM 990, PART VI, SECTION B, LINE 12C | THE BOARD OF DIRECTORS CONFLICT OF INTEREST POLICY CLEARLY DEFINES THE ORGANIZATIONS CONFLICT OF INTEREST POLICY, IT ALSO CONTAINS AN ANNUAL ACKNOWLEDGEMENT AND DISCLOSURE FORM TO ENSURE THE BOARD AGREES TO THEIR RESPONSIBILITIES. THE POLICY COVERS THE BOARD, DIRECTOR, PRINCIPAL OFFICER, OR MEMBER OF A COMMITTEE WITH BOARD DELEGATED POWERS WHO HAS A DIRECT OR INDIRECT INTEREST. PERSONS WHO DO NOT DISCLOSE A CONFLICT ARE SUBJECT TO DISCIPLINARY ACTION. ALL POSSIBLE CONFLICTS OF FINANCIAL INTEREST ARE REVIEWED BY THE BOARD OF DIRECTORS AND/OR BOARD COMMITTEE. |
FORM 990, PART VI, SECTION B, LINE 15 | KALO'S EXECUTIVE DIRECTOR AND CHIEF FINANCIAL OFFICER COMPENSATION IS RECOMMENDED BY THE BOARD'S COMPENSATION COMMITTEE AND APPROVED BY THE BOARD. THE COMMITTEE IS MADE UP OF THE BOARD CHAIR AND VICE CHAIR AND IS STAFFED BY A NON-BOARD MEMBER FISCAL EXPERT. THE COMMITTEE MEETS ANNUALLY TO REVIEW COMPENSATION UTILIZING COMPARATIVE DATA DERIVED FROM THE HAWAII EMPLOYER'S COUNCIL ANNUAL INDUSTRY SURVEYS ON SALARIES AND WAGES IN HAWAII. THE COMMITTEE REVIEWS THE DATA AND MAKES A RECOMMENDATION TO THE BOARD ON ANY COMPENSATION CHANGES. THE BOARD IS ABLE TO REVIEW THE RECOMMENDATION PRIOR TO VOTING. THE ACTIONS OF BOTH THE BOARD AND THE COMMITTEE ARE DOCUMENTED IN MEETING MINUTES WHICH ARE APPROVED BY THE BOARD AND COMMITTEE MEMBERS. THIS PROCESS WAS LAST UNDERTAKEN IN 2017. |
FORM 990, PART VI, SECTION C, LINE 19 | THE ORGANIZATION MAKES ITS GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS AVAILABLE TO THE PUBLIC UPON REQUEST. |
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