Bay Aging Foundation

“The form 990 is reviewed by the board finance committee, the board chair (who is also the president and chief executive officer of bay aging) and chief financial officer of bay aging. After this review, the form 990 is provided to the members of the board of directors who review and approved the form 990 prior to its filing.”

“The members of the board of directors are required to sign a statement each year acknowledging their understanding and agreement to abide by the conflicts of interest policy. In the event a member of the board of directors has a potential conflict of interest, such member is required to recuse themselves from all discussion and voting ont he matter.”

“Bay aging foundation does not compensated any of its officers or directors. Compensation paid to the board chairman and board vice chairman is paid by bay aging, a related organization. The process for determining compensation is completed by bay aging and includes the use of a compensation committee, utilization of an independent compensation consultant, examining of forms 990 of other organizations, using compenstion studies or surveys, and approval by the bay aging board of directors and its compensation committee. The bay aging board of directors approves the organziation payroll in conjunction with the budget process. Approval of compensation is documented in minutes of the bay aging board of directors meeting minutes. Payroll adjustments are generally made at the aggregate level and are intended to serve as a guideline rather than a cap on compensation. The bay aging president, with input from the staff, authorizes pay rates for all employees. The board of directors must authorize any bonuses or other non-routine pay or benefits for the president and bay aging foundation chair and vice chair.”

“Compensation for key employees is determined in the same manner as compensation is determined for top officials and officers of the organization.”

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

“The intent of the foundation is to generate investment income to supplement bay aging revenues and to utilize its funding to assist in the funding of direct services for clients and further support bayaging's mission. See attachment for more details.”