Gettysburg Foundation

“As part of the annual conflict of interest disclosure, members of the board of directors are asked to disclose any family or business relationships they may have with another officer, director, trustee, or key employee. The following such relationships were noted: business relationship between board chairman and board secretary.”

“The form 990 is made available for review by the board of directors and is reviewed and approved by the audit committee before it is filed.”

“The conflict of interest policy applies to the foundation directors, officers, and management employees. All related parties are required to disclose those relationships maintained by them with organizations that do business with the foundation or which otherwise could be construed to potentially affect their independent, unbiased judgement in light of their decision-making authority or responsibility. In the event that a related party is uncertain as to the appropriateness of disclosing a particular relationship, the chair of the board of directors or the president should be consulted. They in turn may consult with legal counsel, the executive committee, or the board of directors. Directors or officers who have declared or been found to have a conflict of interest with respect to a matter shall refrain from participating in consideration of the matter, unless for special reasons the board of directors requests information, interpretation, or other participation. Persons with such conflicts shall not vote nor be present at the time of vote.”

“The president's compensation is established by the executive committee of the board using comparable data from similarly situated non-profits and presented to the full board. Any compensation increases are reviewed and approved by the full board as part of the annual budget process deliberations and decisions are documented. The compensation for other officers and key employees is also compared to positions at other similarly situated non-profits. Compensation for these positions is reviewed by the president and the full board as part of the annual budget process.”

“The organization does not make its governing documents or conflict of interest policy available for public inspection as this is not required by federal or state law. The organization includes a copy of its financial statements with the state registration filed with the pennsylvania department of the state, bureau of charitable organizations. These documents are a matter of public record and can be viewed at the bureau office. Copies of the organizations governing documents, conflict of interest policy or financial statements will be provided upon request of a donor.”

“The organization did not have any instances where backup withholding was required; however, if the situation would arise, the organization is aware of the reporting requirements and would handle that accordingly.”

“Unrealized gain on interest rate swap 673,523. Change in value of split-interest annuity liability -7,388. Bond rebate excess interest 4,387.”

“The audit committee assumes responsibility for oversight of the audit of its financial statements and selection of an independent accountant. This process has not changed from the previous year.”