New Hampshire Charitable Foundation

“The Foundation has electors who elect the members of the governing body.”

“The following decisions of the governing body are subject to approval by the electors: a) changes to the by-laws; b) appointment of the independent audit firm.”

“A copy of the Form 990 is provided to and reviewed by the audit committee. After review and finalization, a copy is provided to each board member prior to filing the final form.”

“All board members and staff receive the written conflict of interest policy which clearly defines what constitutes a conflict. Each person is asked to document and sign a statement recording his or her personal conflicts. These forms are updated annually. In addition, during grant making discussions, those who have a conflict with the organization being discussed are asked to remind others of their conflicts. Those with a declared conflict are not eligible to discuss or vote on grant making for those organizations with which they have a conflict.”

“The process for determining compensation for the Foundation's president includes an annual review by the board of the president's performance. The executive committee of the board reviews comparability data including survey information provided by an independent compensation consultant. The committee presents a recommendation to the board. The board discusses the president's performance as well as the compensation recommendation. After deliberation, there is a board vote. The chair of the board prepares contemporaneous documentation of the discussion and vote. The members of the board as well as the executive committee are independent. The process for determining compensation for senior management of the Foundation includes an annual performance review by the president. The president reviews comparability data including survey information provided by an independent compensation consultant and makes compensation decisions within the compensation program and structure as approved by the board. The president prepares contemporaneous documentation of the discussion.”

“The Foundation's Form 990 and audited financial statements are available to the public on the Foundation's website. They are also available upon request. The by-laws and conflict of interest policy are available to the public upon request.”

“Investment Fees: New Hampshire Charitable Foundation invests in several commingled funds and limited partnerships. Most of these funds and partnerships report income net of fees and the Foundation follows the same practice. As a result, some of the fees paid to investment managers are reflected as a reduction of investment income and not shown on Part IX, Line 11f.”

“Deferred Compensation Accrual: The Foundation adopted a 457(b) deferred compensation plan during 2010 covering the Chief Executive Officer. The purpose of the plan is to provide supplemental retirement income and the retention of a key employee by offering benefits comparable with similar organizations. The board of directors approved annual contributions of $11,500 for 2013 and 2012. Each contribution is expensed when made. The total cost of the plan charged to operations amounted to $11,500 in 2013 and 2012. At December 31, 2013 and 2012, $54,223 and $34,639 was accrued for this obligation.”

“Change in Value of Split Interest Agreements 203,919.”

“The audit committee oversees the audit of the financial statements and selects an independent auditor. The process has not changed from the prior year.”