Pbs Foundation

“Pbs is pbs foundation's sole member (article 2.1 of the pbs foundation bylaws).”

“PER ARTICLE 3.3 OF THE PBS FOUNDATION BYLAWS, the Chair of the PBS Board of Directors, the President of PBS and a third member from either the PBS Board of Directors or a senior executive of PBS, shall serve as ex officio voting members of the PBS Foundation Board.”

“Per article 3.3 of the bylaws, pbs's nominating and corporate governance committee must approve all appointments of pbs foundation board members.”

“The process for reviewing the pbs foundation form 990 prior to filing includes a thorough review by the executive director and certain officers of the pbs foundation, including the president, treasurer, and corporate secretary. These officers of the foundation are also members of the senior management team at pbs. In addition, copies of the form are provided to the full board for review prior to filing.”

“In accordance with pbs's conflict of interest policy, pbs foundation executive staff, officers and board members are required to complete a conflict of interest form at the beginning of each fiscal year and are required to update the form as necessary throughout the year. These forms are distributed, collected, reviewed, and retained by pbs foundation's corporate secretary, who also serves as pbs's general counsel and corporate secretary.”

“A third-party consultant who is a compensation expert provides comparability data for the Foundation Executive Director position each year. The PBS Chief Operating Officer working with the Human Resource department and using this comparability data makes a compensation recommendation for the Foundation Executive Director. The Chief Executive Officer reviews and approves the recommendation made by the Chief Operating Officer. The process for determining the PBS CEOs compensation is detailed in Schedule J, Part III.”

“Financial statements and policies governing the pbs foundation are made available upon request in writing.”

“The pbs foundation receives contributions in the form of securities which in practice it liquidates to cash as soon as reasonably possible. These amounts are recorded as contribution revenue at fair market value (fmv) in line 1f of the schedule, and assigned an equivalent cost basis in line 7b, in the period received. These same securities are recorded at the gross sales amount on line 7a of the schedule when sold, resulting in an offsetting gain or loss in fair market value (fmv) at liquidation.”

“To enlist philanthropic support of public broadcasting through establishing special initiatives funds to ensure pbs continued excellence, and to promote and enhance outstanding public broadcasting programs and services. Form 990, part iii, line 1: the foundation enlists philanthropic support of public broadcasting through establishing special initiatives funds and a permanent endowment to ensure pbs continued excellence, and to promote and enhance outstanding public broadcasting programs and services. Working collaboratively and cooperatively with member stations, the foundation endeavors to secure the extraordinary funding necessary to maintain and enhance pbs commitment to serving the american public.”

“THE FOUNDATION IS A SUPPORTING ORGANIZATION WHOSE EFFORTS AND RELATED EXPENDITURES SOMETIMES RESULT IN BENEFITS NOT REFLECTED IN ITS OWN Form 990 REPORT, AS THESE BENEFITS ARE RECEIVED DIRECTLY BY ITS SUPPORTED ORGANIZATION, PUBLIC BROADCASTING SERVICE.”

“Reconciliation of net assets: supplemental information explanation: revenues are greater than expenses reflecting the timing of receipt of grant funds or commitments in one period, and disbursement of those funds in fulfillment of those obligations in subsequent periods.”

“There was no change in the audit oversight process from the previous year.”