Federation of Protestant Welfare

“The organization's form 990 is prepared by an outside accounting firm based on information contained in the audited financial statements and other information provided by federation's chief financial officer. To ensure accuracy of the information reported, the organization has established a review process that includes an initial review by management, followed by a review by a board committee including the treasurer. Following the committee's review, the full board is provided with an electronic copy or a hard copy (for those board members without electronic access), for their review and comments. Five working days are provided for board comments. Comments are correlated, summarized and addressed by management, and where appropriate, incorporated into the finalized form 990.”

“A conflict of interest policy is currently in place and is monitored annually. Each year every member of the governing body completes and signs a conflict of interest statement in which they disclose any possible conflicts of interest to the organization. If such conflict of interest exists, the board member may not vote on matters as to which there is a conflict, and may be required to leave that portion of a meeting that considers the matter as to which there is a conflict. Conflicts of interest are duly noted in all necessary reporting requirements.”

“The board of directors, namely the human resources committee, is charged with the review of the chief executive officer's performance and any subsequent recommendations to the board of directors concerning the annual compensation package and any year-end payments or bonuses for the chief executive officer/executive director. The committee conducts its review and presents its recommendations to the executive committee at its november meeting and to the full board of directors at its december meeting. The chief executive officer/executive director may not be present at or otherwise participate in any board or committed deliberation or vote concerning his or her compensation. The board or pertinent committee may request that the chief executive officer/executive director to present information as background or answer questions at a board or pertinent committee meeting prior to the commencement of related deliberations or voting.”

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

“Change in value of beneficial interest in perpetual trusts 1,494,159. Postretirement related changes other than net periodic benefit cost net period pension cost 101,500.”

“The process has not changed from the prior year.”