Advisory Committee on Tax Exempt and Government Entities (ACT ...

The Appropriate Role Of The Internal Revenue Service With Respect To Tax-Exempt Organization Good Governance Issues• The number of voting member and number of independent members onthe governing body of the organization (Core Form Part I and VI).• Whether the organization engages in or discovers an excess benefittransaction during the reporting year (Core Form Part IV and Schedule L).• Whether any officer, director, trustee, or key employee has a family orbusiness relationship with each other (Core Form Part VI).• Whether the organization delegated management duties customarilyperformed by officers, directors or trustees, or key employees to amanagement company or other person (Core Form Part VI).• Whether the organization became aware during the year of a materialdiversion of the organization’s assets (Core Form Part VI).• Whether the organization has members or stockholders (Core Form PartVI).• Whether the organization has members, stockholders, or other personswho may elect one or more members of the governing body; and whetherany decisions of the governing body are subject to approval by members,stockholders, or other persons (Core Form Part VI).• Whether the organization contemporaneously documented the meetingsheld or written actions undertaken during the year by the governing body,and by each committee with authority to act on behalf of the governingbody (Core Form Part VI).• If the organization has local branches, chapters, or affiliates, whether ithas written policies and procedures governing the activities of suchbranches, chapters, or affiliates, to ensure their operations are consistentwith those of the organization (Core Form Part VI).• Whether a copy of the Form 990 was provided to the organization’sgoverning body before it was filed; and a description of the process forreviewing the Form (Core Form Part VI).• Whether the organization has a written conflict of interest policy; and, if so,whether officers, directors, and key employees are required to discloseannually interests that could give rise to conflicts, and whether theorganization regularly and consistently monitors and enforces compliancewith the policy (Core Form Part VI).• Whether the organization has a written whistleblower policy (Core FormPart VI).ADVISORY COMMITTEE ON TAX EXEMPT AND GOVERNMENT ENTITIES (ACT) June 11, 2008 36