Episcopal Church Foundation

“The Executive Committee consists of the Chairperson of the Board (who serves as chairperson of the Committee), the Vice Chairperson or the Chairperson elect, the President, the Secretary, the Treasurer, and the chairpersons of all standing committees. Subject to the discretion of the Board, the Executive Committee shall have immediate charge, management and control of the business and affairs of ECF, and it shall have full powers, in the intervals between the meetings of the Board, to do any and all things in relation to the affairs of ECF and to exercise any powers of the Board which are not specifically required by law or the Bylaws to be exercised by the Board, except that the Executive Committee shall not have power to remove or elect a Director or the President. The Executive Committee shall report to the Board, in writing, all actions taken by the Committee.”

“The presiding bishop of the Episcopal Church selects two members of ECF's Board of Directors for a four-year term.”

“The Form 990 is prepared by an independent CPA firm in conjunction with the organization's financial department. A copy of the draft Form 990 is reviewed by the President and Vice President of Finance. The draft is also circulated to the full Board of Directors for discussion and comment. Each Director is provided ample opportunity to comment on the information contained in the 990 prior to its filing with the Internal Revenue Service.”

“All members of the Board of Directors and all staff members are required to annually provide in writing a full disclosure of any real or perceived conflicts of interest as well as specifically identify if they are a director, officer, associate, partner, or manager in any outside firm or business enterprise, regardless of whether that relationship constitutes a potential conflict. Management monitors compliance through ongoing discussions and reminders of the conflict of interest policy. If a conflict were to arise on a matter under discussion or vote at a board meeting, the individual with the potential or actual conflict would abstain from voting.”

“The compensation for the organization's President is established and approved by the full Board of Directors based on a thorough evaluation of his performance relative to written annual administrative and programmatic goals. The compensation for other officers is established by the President within the context of annual staff reviews. Generally, compensation is compared on a yearly basis with available reports created by third parties that establish compensation ranges paid for comparable positions. The process is documented in the Board minutes for the President and in the personnel file for the other officers.”

“The organization's financial statements, governing documents, and conflict of interest policy are made available to the public upon written request and at management's discretion.”

“Change in value of split-interest agreements -181,990. Change in value of beneficial interest in perpetual trust -89,073.”

“The organization's Audit Committee assumes responsibility for oversight of the audit of its financial statements and selection of its independent accountant. The Audit Committee receives the report of the auditors, and recommends to the full Board that it receive and approve the audited financials, which they do by a voice vote. This process has not changed since the prior year.”