The James Beard Foundation Inc.

“After preparation of the form 990 is completed by our independent accountants (with input and support by the foundation's financial staff), and prior to its filing with the irs, the president and cfo of the foundation review the prepared form 990. The prepared form 990 is then shared with the audit committee of the board of directors - whose charter includes their "oversight of the corporation's tax and regulatory filings" - for their review prior to its filing. After the reviews by these foundation officers and members of the audit committee are completed, a copy of the final form 990 (including required schedules) is distributed to all voting members of the board of directors prior to its filing with the irs.”

“The chairman of the board of directors directs the annual distribution of conflict of interest forms to all trustees and officers, and retains completed and signed assurances of their continued compliance with the required conflicts of interest restrictions. Any situation that involves, or may reasonably be expected to involve, a conflict of interest with the organization and is not otherwise provided for in this policy should be disclosed promptly to the chair of the committee. If the committee or the board of trustees determines that a transaction would create a conflict of interest, the transaction is subject to approval in advance by the members of the board of trustees or applicable committee who do not have a conflict with respect to the transaction. Any key person having a conflict of interest will recuse him- or herself from consideration of the transaction, i.e., the interested key person may not vote on the transaction or be present when the vote is taken, and the interested key person many not be present during any discussion of the transaction other than to answer questions.”

“Based on a review of the president's performance (and her submission of a written narrative documenting her performance for the previous year), an independent compensation committee of the board of directors makes annual recommendations to the executive committee, and to the entire board of directors, for review and approval of any increase (or maintenance) of the president's compensation, which is documented contemporaneously.”

“The foundation posts on its own website all financial statements (immediately upon completion of the annual audits), its conflict of interest policy, and its code of conduct, ethics and governance.”

“Other consulting services: program service expenses 1,812,096. Management and general expenses 225,689. Fundraising expenses 17,580. Total expenses 2,055,365.”

“There was no change to the oversight process or selection process during the tax year.”