Angier B Duke Memorial Inc

“Trustees charles c. Lucas, iii and j. Trent jones have a family relationship.”

“An external tax firm prepares a draft of the annual form 990 with assistance from memorial's finance staff. The cfo reviews the form 990 and then it is distributed to the full board of trustees prior to filing.”

“The memorial does have a conflict of interest policy. Following an annual review of the conflict of interest policy by the board's committee on trustees and governance, each trustee and officer acknowledges review and compliance with the policy. The secretary of the memorial, distributes the policy to each trustee and officer for updating disclosure statements. The secretary reviews all updated disclosure statements, and the statements are circulated to the chairman of the board of trustees, the chairman of each board committee and to the officers. The secretary is responsible for monitoring and enforcing compliance with the policy throughout the year. A copy of each response is kept on file in the office of the secretary for the memorial.”

“Trustees and officers of the duke endowment (the "endowment") serve as trustees and officers of the memorial. Therefore, the memorial does not have separate paid employees. However, the endowment has a committee on human resources that reviews and approves all compensation of the endowment's employees. The endowment's committee on human resources conducts an in-depth compensation analysis every 3-4 years, which includes, but is not limited to, hiring an independent compensation consultant to benchmark staff positions against market data of peer group nonprofit organizations and comparable positions within for-profit organizations.”

“The governing documents, conflict of interest policy, and financial statements of angier b. Duke memorial inc. Are available upon request.”

“Trustee compensation was set forth in the second division of mr. Duke's indenture of trust dated december 11, 1924, as amended. Trustees do not receive reimbursement for travel-related expenses. The minimum hours for trustees is based upon 10 board meetings, related committee meetings, travel and preparation time. Trustees are also frequently consulted between meetings and asked to review and comment on e-mails, reports and papers prepared by staff and assist on other endowment related matters. Broken down on a weekly basis, the minimum time is approximately 4 to 7 hours per week per trustee.”