Primitive Methodist Investment Foundation

“There is a marital relationship between the president and one of the members of the board.”

“The form 990 was reviewed in detail by the treasurer. The treasurer was appointed by the board to review and approve the form prior to filing. The treasurer reported to the full board upon completion of his review. A copy was provided to the full board after filing.”

“The organization has a small board that is aware of any potential conflicts. The board members consider any potential conflicts for new business transactions.”

“The treasurer & corporate secretary (the "treasurer") is the compensated executive employee of the primitive methodist investment foundation, inc. (the "pmif or organization"). The treasurer of the organization ensures set policies are followed. The treasurer is the principal representative of the pmif, and the person responsible for the efficient operation of the organization. The annual process for determining compensation for each executive employee is as follows: (a) annual evaluation (b) use comparability data (c) document the process the pmif's executive committee shall annually evaluate executive employees on his/her performance, and ask for his/her input on matters of performance and compensation. It is understood by compensated executive employees that the compensation portion of the annual budget represents a small portion of the operating expenses of the organization. As such, the executive employees' compensation will generally be set below market value of comparable positions at similar organizations. The executive committee will obtain research and information to make a recommendation to the full board for the compensation (salary and benefits) of the executive employees based on a review of comparability data. For example, the executive committee will secure data that documents compensation levels and benefits for similarly qualified individuals in comparable positions at similar organizations. This data may include the following: 1. Salary and benefit compensation studies by independent sources; 2. Written job offers for positions at similar organizations; 3. Documented telephone calls about similar positions at both nonprofit and for profit organizations; and 4. Information obtained from the irs form 990 filings of similar foundation, inc. 23-2319414 primitive methodist investment organizations. To approve the compensation for the compensated executive employees the board must document how it reached its decisions, including the data on which it relied, in minutes of the meeting during which the compensation was approved. Documentation will include: a)a description of the compensation and benefits and the date it was approved; b) the members of the board who were present during the discussion about compensation and benefits, and the results of the vote; c) a description of the comparability data relied upon and how the data was obtained; and d) any actions taken (such as abstaining from discussion and vote) with respect to consideration of the compensation by anyone who is otherwise a member of the board but who had a conflict of interest with respect to the decision on the compensation and benefits. The vice-chair of the board of directors, who is a volunteer and not compensated by the organization, will chair the executive committee for the purpose of setting compensated executive employees' salaries. The vice-chair shall operate independently without undue influence from the compensated executive employees. No member of the executive committee will be a staff member, the relative of a staff member, or have any relationship with staff that could present a conflict of interest.”

“The foundation makes its governing documents and financial statements available to the public upon request.”