Broadcasters Foundation of America

“Broadcasters foundation of america has its form 990 prepared by an outside accounting firm and has established the following review process to ensure that the information reported is complete and accurate. When the form 990 has been prepared, reviewed by management and is ready to be filed with the internal revenue service, it is submitted electronically to members of the organization's governing body for any comments prior to its submission. The governing body is provided with a minimum of one week to review the prepared form 990 and provide their comments. Any comments are then grouped, summarized and provided to the audit committee for their review. Each issue is documented and addressed until the return is finalized and approved for filing.”

“The organization currently has in place a conflict of interest policy which it annually monitors and enforces. The board currently mandates that all members of management and the governing body annually sign a conflict of interest policy and disclose any potential or actual conflicts that may exist. The signed conflict of interest policy is submitted to the organization's board and president who review the signed attestations for potential or actual conflicts. If a potential or actual conflict of interest exists, the board and president will investigate the conflict. The results of the investigation will be summarized and documented and be reported to the governing body. If the board and president establish that an actual conflict exists, the member of management or the governing body will be notified immediately and will not be allowed to vote or be a part of any decisions about any such transactions that have to do with the conflict until such time there is no longer a conflict.”

“The compensation of the president and other officers of the organization is determined by the compensation committee, with approval by the board of directors. Comparable compensation from other foundations and tax-exempt organizations, as well as annual performance reviews, are used in the determination process. The discussions and decisions are documented in the minutes of the board meeting. This process was last conducted in 2023.”

“Broadcasters foundation of america makes its governing documents, conflict of interest policy, and financial statements available to the public upon request. In addition, the organization's financial statements and form 990 is available on the organization's website.”

“N. Scott knight, director, was compensated for professional services provided to the organization and not paid in the capacity of a board member.”

“Loss on uncollectible pledge -10,000.”

“The organization has a committee that assumes responsibility for oversight of the audit of its financial statements and selection of an independent accountant. This process did not change from the prior year.”