Aldie Foundation

“The board treasurer reviews the tax return and presents the return to the board for final review and approval.”

“Aldie foundation annually requires all board members to review the conflict of interest policy and acknowledge compliance with the policy as well as identify any possible known conflicts of interest that may exist. Aldie foundation is diligent in its review of the annual disclosure forms submitted by covered persons, and complies and maintains a list of potentially conflicted entities and individuals. Proposed transactions can then be matched against the list as a means of identifying possible conflicts. The foundation charges the executive director as the person ultimately responsible for maintaining the list and screening for possible conflicts of interest. When dealing with major vendors and service providers, the foundation requires the vendor or service provider to disclose any relationship - personal, financial, or otherwise - that the vendor or service provider has with any of the organization's directors, officers, employees, or volunteers. This process will assist the organization in monitoring compliance with the conflict of interest policy. In addition, the aldie foundation will undertake a periodic review of transactions involving significant expenditures of the organization's funds to ensure any compensation paid continues to be reasonable. For any possible conflict that is identified with respect to a proposed transaction, the organization will follow the procedures set out in its conflict of interest policy for determining whether an actual conflict of interest exists, and the procedures for addressing the conflict of interest. The organization must also document, through well-kept minutes, any decisions related to transactions involving an actual or possible conflict of interest. Any board deliberations with respect to issues or decisions where there is an identified potential conflict of interest, will require the individual member or key staff to recuse themselves from the deliberations and decision making process and any related voting.”

“The aldie board of directors annually reviews the performance of the organization's executive director through its personnel committee and utilizing the position job description. The results of the evaluation and recommendations are then presented to the entire board for final approval. The personnel committee utilizes the data from the form 990 of similar organizations in the local area. The results of the evaluation are substantiated in the form of a written evaluation that is maintained in the executive directors personnel file. Record of the deliberation and decision are recorded in the board meeting minutes.”

“The organization annually publishes notice of availability of its annual report in local newspapers. The annual report contains a summary of the years financial statements, governing documents, and conflict of interest policy.”

“Repayment of restricted grant funds -113,224.”

“The process has not changed since prior years, the organization assumes responsibility for oversight of the audit of its financial statements and the selection of the independent auditors.”