California Masonic Foundation

“The accounting/treasury manager prepares the supporting schedules and data for form 990. Once completed, the controller reviews the materials and submits them to the tax consultant for preparation of form 990. The tax consultant then provides the completed draft to both the controller and the chief financial officer (cfo) for review and approval. After their review, the cfo and tax consultant present the draft form 990 to the audit committee for further review and approval. The general counsel also reviews the form before it is finalized. Following approval by the audit committee, the finalized form 990 is posted to an internal website accessible to all voting members of the board for final review and approval. Once approved, the cfo signs the e-sign form, and the tax consultant e-files the returns.”

“As required, annually, each member of the board executes and signs a conflict of interest disclosure statement. In this statement, the board and the board level committee discloses known, existing, potential and possible conflicts of interest. If no such interests or activities exist, the party writes the word "none" in the space provided. In addition, these statements are updated when an interested party subsequently becomes a matter of board action. The interested party discloses the circumstances to the chair of the board of directors. In the event the interested party in question is the chair of the board, the potential conflict is disclosed to the full board. The conflict of interest disclosure statement for board members is submitted to the chair of the board for review. The plans for mitigation of any conflict relating to board members are presented by the chair to the board. Following review, all conflict of interest disclosure statements are kept on file with the grand secretary.”

“Benchmarking is completed on all positions by an independent third party compensation consultant. Review is done by the independent volunteer leadership board of trustess and approved by grand lodge executive committee headed by the grand master. Salary benchmarking is conducted by an independent third party compensation consultant utilizing numerous published salary surveys for each position based on title and job description.”

“The audited financial statements, governing/organizing documents, and conflict of interest policy are available to the public at the corporate office.”