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FORM 990, PART VI, SECTION B, LINE 11B | GEORGIA HEALTH SCIENCES FOUNDATION, INC. PROVIDED THE FEDERAL FORM 990 TO THE BOARD OF TRUSTEES FOR REVIEW AND COMMENT PRIOR TO FILING. |
FORM 990, PART VI, SECTION B, LINE 12C | ON AN ANNUAL BASIS, EACH MEMBER OF THE BOARD AND EACH PRINCIPAL OFFICER IS REQUIRED TO SIGN A STATEMENT THAT AFFIRMS SUCH PERSON HAS RECEIVED A COPY OF THE CONFLICT OF INTEREST POLICY, HAS READ AND UNDERSTANDS THE POLICY, HAS AGREED TO COMPLY WITH THE POLICY AND UNDERSTANDS THE FOUNDATION IS CHARITABLE AND, IN ORDER TO MAINTAIN ITS FEDERAL TAX EXEMPTION, MUST ENGAGE PRIMARILY IN ACTIVITIES WHICH ACCOMPLISH ONE OR MORE OF ITS TAX EXEMPT PURPOSES. IN ADDITION, PERIODIC REVIEWS ARE CONDUCTED THAT ENSURE THE REASONABLENESS OF COMPENSATION AND BENEFITS AND ARE AT ARM'S LENGTH. ANY PARTNERSHIPS, JOINT VENTURES, OR ARRANGEMENTS WITH MANAGEMENT ORGANIZATIONS AND OUTSIDE EXPERTS ARE REVIEWED TO ENSURE THEY ARE PROPERLY RECORDED, CONFORM TO THE FOUNDATION'S WRITTEN POLICIES, REFLECT REASONABLE INVESTMENT OR PAYMENTS FOR GOODS AND SERVICES, FURTHER CHARITABLE PURPOSES AND DO NOT RESULT IN INUREMENT, IMPERMISSIBLE PRIVATE BENEFIT OR AN EXCESS BENEFIT TRANSACTION. ANY DIRECTOR OR OFFICER SHALL DECLARE HIMSELF/HERSELF AS "ABSTAINING" FROM VOTING ON ANY MATTER IN WHICH SAID DIRECTOR OR OFFICER MAY BE CONSIDERED TO HAVE A CONFLICT OF INTEREST. |
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. |
FORM 990, PAGE 12, PART XII, 2C | THE GEORGIA HEALTH SCIENCES FOUNDATION INC.'S AUDIT COMMITTEE ASSUMES RESPONSIBILITY FOR OVERSIGHT OF THE AUDIT AND FOR SELECTION OF INDEPENDENT ACCOUNTANTS. APPOINTED BY THE BOARD OF DIRECTORS, THE AUDIT COMMITTEE CONSISTS OF THE CHAIR OF THE BOARD, AND THREE (3) OTHER MEMBERS OF THE BOARD, ONE OF WHOM IS DESIGNATED BY THE BOARD TO SERVE AS CHAIR FOR A THREE YEAR TERM. ADDITIONALLY, THE AUDIT COMMITTEE REVIEWS AND MAKES RECOMMENDATIONS TO THE BOARD ON ANY AND ALL MATTERS RELATED TO THE FISCAL AFFAIRS OF THE CORPORATION. |
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