Attach to Form 990 or 990-EZ.
Go to www.irs.gov/Form990 for the latest information.
| Return Reference | Explanation |
|---|---|
| Form 990, Part VI, Section SECTION B, Line LINE 11b | The treasurer distributesthe draft via email to the Board of Directors for comments and questions. Anycomments/questions are addressed via email to the Executive Committee. Once addressed, the Treasurerrequests acknowledgement that they agree with filing the return. The Executive Committee receives a copy after it has been filed. |
| Form 990, Part VI, Section SECTION B, Line Line 12a | The Board of Directors recognizes that a conflict of interest may exist in a transaction with House Springs Lions Club whereby the transaction may hold a material interestfor a related party. This policy defines conflict of interest, promotes full disclosureof transactions thatmay hold a conflict of interest, and provides guidelines for theauthorization of such transactions when appropriate. In general, a conflict of interest may be defined as acceptance or receipt ofcompensation in any form and reimbursement of expenses for either clubmembers orboard members in the normal courseof business or entering, asan individual or on behalf of a business entity, into a contract or agreement with House Springs Lions Club to sell property/goods or to provide services to the club. |
| Form 990, Part VI, Section SECTION B, Line Line 12b | In the event a potential conflict of interest exists, amajority of the Executive Committee ora majority of a quorum of the Board of Directors of House Springs Lions Club may approve the transaction pursuant to the following The President of the Club and an Officer of the Board of Directors fully define the nature of the potential conflict ofinterest and quantify the benefit to the Board Member or Club Member. The transaction shall be subject to a competitive bidding process.The Board of Directors is fully advised of the nature of the transaction, the benefit to the related party, and the competitive bid information. The board member or club member who is involved in the potential transaction shall not vote or be present when a vote is cast on any aspectof the proposed transaction, influence or attempt to influence the vote on any aspect of the potential transaction, or take part in anydiscussion of the merits of such a transaction, except to provide clarification on goods/services to be provided. |
| Form 990, Part VI, Section SECTION B, Line Line 12c | Minutes shall be kept to reflect adherence to this policy in the discussion and vote by the Board of Directors on any transaction presenting a potential conflict of interest. |
| Form 990, Part VI, Section SECTION B, Line Line 15a | No Compensation is paid. |
| Form 990, Part VI, Section SECTION C, Line Line19 | A copy of the 990/990EZ are avaiable to the public upon request. The Treasurer will provide the tax forms to the person requesting them. |
| Software ID: | 21013554 |
| Software Version: | 21.0.5.0 |