Gbta Foundation

“As per the bylaws, the gbta foundation executive committee shall include the foundation chair, the foundation vice chair, the gbta president, the gbta executive director, one at large member of the foundation board of trustees and the foundation executive director. At least one member of the executive committee shall be an industry supplier. When the full board of trustees is not in session, the executive committee shall have the powers of the board of trustees and may act in its place.”

“Eleven trustees who do not serve ex-officio shall be appointed for two-year terms by the board of directors of the global business travel association. In addition, a trustee of the foundation may be removed from office by the global business travel association for certain circumstances. However, such action requires 'due process' and shall require a majority vote of the gbta board.”

“The return is prepared by an independent public accounting firm. Prior to filing with the irs, management reviews the return. After management's review, a copy of the return is provided to the governing body prior to the return being filed with the irs.”

“The foundation has a written conflict of interest policy for its employees. However, the policy does not apply to governance.”

“Executive director's compensation and evaluation is based on a review by an independent consultant, with approval of the executive director of gbta & the foundation board chair. This process was most recently completed in november 2010. Compensation of other employees is evaluated by the executive management of both gbta and gbta foundation based on performance. This process was most recently completed in 2012.”

“The organization makes it's governing documents, conflict of interest policy and financial statements available to the public upon request.”

“Subsequent to year end, global business travel association (gbta), a related organization to gbta foundation, discovered that certain disbursements made on behalf of an employee, which occurred during 2013 and during prior years, were not reported on the organization's form 990. Upon discovering this issue, gbta's audit and investment committee was tasked with the responsibility of reviewing these disbursements and, with guidance from the organization's accountants, determining the proper tax treatment for these payments. That process has been completed. As a result, the organization has included that compensation in its 2013 form 990 as other reportable compensation to the individual. The organization is in the process of amending the employee's forms w-2 and the appropriate previously filed form 990s to reflect the additional compensation.”

“Annual partner contributions: beginning in 2013, funds from foundation partnerships initiatives are being recognized only when the restrictions associated with the contribution are completed. Histrocially, these funds were recorded as pledges and fully recognized at the time the agreement was signed, regardless of the month/year of project completion.”

“The increase in staff expenses from 2012 to 2013 is the result of the transition of gbta academy staff from gbta association to gbta foundation.”

“Consulting: program service expenses 726,794. Management and general expenses 0. Fundraising expenses 0. Total expenses 726,794.”

“The oversight/selection process for the audit committe has not changed from prior year.”