Friendship Ministries Foundation

“Dr. Russell cadle, the president, and dr. Virgina cadle, an employee, have a family relationship.”

“The board policy for reviewing the form 990 is that the qualified management level individual, who is appointed by the board annually, will review the form 990 within 30 days of the filing date and at the next subsequent board meeting, will report to the board. A board resolution is not required in order for the form 990 to be filed.”

“All of the directors and employees are annually required to disclose any conflicts. As such there is a general awareness of such issues and the policy is essentially monitored two ways: first, by management through internal controls in place which include approval of expenditures. Second, the board effectively does its monitoring through board discussions of yearly activity during its regularly scheduled meetings. Any violation of that policy, pursuant to the written policy, will be handled by the board on a case by case basis and with a unanimous vote.”

“The board meets annually, before the subsequent year, to determine the budget for that upcoming year. At this time salaries are reviewed in light of existing and potential new responsibilities, and are adjusted as determined by a unanimous decision of the board. The only exception is when the discussion includes the compensation of the president and/or any member of his family, at which point the president is reclused from such discussion and literally leaves the room for both the discussion and the vote.”

“If the governing documents (articles of incorporation, bylaws and constitution), the conflict of interest policy, and the financial statements were to become subject to federal and state public disclosure rules, these documents would be made available to the public as the applicable law would require. In absence of such federal and state rules, the documents mentioned above would be provided to the public on a case by case basis, at the discretion of management.”