The Foundation for Jewish Philanthropies

“The form 990 is prepared by an independent outside accounting firm. It is then reviewed by the top financial official and then by the board president. Prior to filing, copies of form 990 are provided to all board members for comments.”

“A copy of the conflict of interest policy is furnished to each trustee, officer, committee member, and employee. All parties are educated about the importance of compliance with the conflict of interest policy and are subject to disciplinary action if they fail to adhere to it. Each person signs an annual compliance agreement acknowledging receipt of this policy and agreeing to abide by it. An interested person must disclose any actual or potential conflict of interest and any material fact which may relate to any actual or potential conflict of interest to the ceo, the board or any appropriate committee at the beginning of the board's or such committee's consideration or review of any proposed or existing transaction or as soon as he/she first becomes aware of it. After the ceo or an interested person discloses an actual or potential conflict of interest or any material fact, which may relate thereto the board or any appropriate committee, said board or committee will discuss said disclosure with the interested person. Then the interested person will leave the board or committee meeting. The board or committee will discuss the disclosure and vote. The board or committee will determine by a majority vote of all of its remaining members if a conflict of interest exists; provided, however, that if a transaction would constitute a related party transaction under the new york not-for- profit corporation law, a conflict of interest will be deemed to exist. If the board or a committee determines that a conflict of interest does in fact exist, then the foundation will take the following steps: 1. The board or committee will investigate alternatives to the proposed or existing transaction. 2. After exercising due diligence and after assuring itself that it is acting in compliance with foundation policies, the board or committee will obtain and relay upon appropriate data as to comparability with an appropriate market. 3. After exercising due diligence and ensuring compliance with foundation policies, the board or committee will determine whether the foundation can obtain a more advantageous transaction with reasonable efforts from any person or entity that would not give rise to a conflict of interest. 4. The board or committee will determine: (a) whether the transaction is fair and reasonable to the foundation and in the foundation's best interest and (b) whether to enter into or continue said transaction. The board or committee minutes will contain: (1) the names of the persons who disclose or otherwise are identified as having an actual or potential conflict of interest (2) in summary form, the nature of the interest and actions taken (if any) by the board or committee to determine whether a conflict actually existed (3) the outcome of the board's or committee's vote as to whether a conflict of interest actually existed (4) in summary form, the steps and actions taken (if any) by the board or committee to address the conflict and investigate alternatives to it (5) the names of the members of the board or committee present during the debate and those who voted on it and their votes and (6) the affirmative statement of the board or committee chair that all required steps and actions were taken in compliance with foundation policies. Such minutes will be preserved in both the file of the transaction and a separately maintained "conflict of interest" file.”

“The organization's process for determining compensation for all employees including its ceo and top management official includes the preparation of the "salary and benefits schedule by employee" by the top financial official and review with the ceo. As part of the board's review of the total budget, a salary and benefits discussion is held to discuss any changes in each employee's position and overall salary and cost of benefits provided, to the extent it differs from the standard cost of living increase. A list of all employees and their duties is presented during the budget meeting. Annual salary and benefits expense is analyzed in comparison to prior year. After a discussion, there is a motion and approval of the budget for the upcoming year as documented in the board minutes.”

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

“Change in value of split interest agreements -3,252,109. Change in cash surrender value of life insurance 464,015. Present value adjustment on pledges”

“Process has remained unchanged year over year”