The Physicians Foundation Inc.

“The foundation has contracts with independent contractors who provide services as chief executive officer (ceo) and chief operating officer (coo). The compensation paid to these individuals has been disclosed on page 8, part vii, section b.”

“The foundation's supported organizations have the power to appoint and remove the members of the board of directors.”

“A draft copy of form 990 is reviewed by the coo who distributes a draft copy of the form to each board member for comments prior to filing with the internal revenue service.”

“The board reviews the annual disclosures submitted by each member.”

“In 2015, the board of directors contracted with an independent compensation consultant to ensure that amounts paid to directors and to the llc's providing ceo and coo services to the foundation are not excessive.”

“The foundation's annual report, form 1023, form 990 along with their governing documents and conflict of interest policy are available upon written request.”

“Ceo expense: program service expenses 0. Management and general expenses 22,955. Fundraising expenses 0. Total expenses 22,955. Gma foundation expense: program service expenses 21,555. Management and general expenses 0. Fundraising expenses 0. Total expenses 21,555. Meals and entertainment: program service expenses 0. Management and general expenses 20,698. Fundraising expenses 0. Total expenses 20,698. Miscellaneous: program service expenses 0. Management and general expenses 20,000. Fundraising expenses 0. Total expenses 20,000. Foreign tax withheld: program service expenses 0. Management and general expenses 11,440. Fundraising expenses 0. Total expenses 11,440. Coo expense: program service expenses 0. Management and general expenses 10,278. Fundraising expenses 0. Total expenses 10,278. Dues and subscriptions: program service expenses 0. Management and general expenses 3,004. Fundraising expenses 0. Total expenses 3,004. Contribution expense: program service expenses 500. Management and general expenses 0. Fundraising expenses 0. Total expenses 500. Unspent grant funds refunded: program service expenses -3,700. Management and general expenses 0. Fundraising expenses 0. Total expenses -3,700.”

“Compensation of officers and directors does not include $2,000 in honorariums paid to board members that was accrued and deducted on the 2014 form 990, but not paid until 2015. The 2015 form 1099 compensation reported on page 7 includes the $2,000 since it was properly reported on the 2015 form 1099.”

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