Financial Education & Research Foundation Inc

“Trustees lori tansley, nicholas koutouras, and vickie wong and trustee/officer andrej suskavcevic and officers liliana devita, and maria o'grady have a business relationship.”

“In accordance with the organization's bylaws, the sole corporate member of the organization is financial executives international ("fei"), a related internal revenue code section 501(c)(6) tax-exempt organization. Subject to the oversight and approval of fei, the board of trustees shall oversee the affairs of the foundation, shall determine its policies, and shall set the strategies to pursue its objectives. Fei appoints, on an annual basis, the officers of the foundation board of trustees, who are also directors of fei. In addition, fei also has the ultimate authority to remove foundation trustees.”

“Ferf's form 990 was provided to each voting member of its governing body, its board of directors, prior to filing with the internal revenue service ("irs"). The organization's board of directors has been delegated the responsibility to oversee and coordinate the form 990 preparation, review and filing process for the organization and its affiliate. As part of the tax return preparation process, the organization hired a professional cpa firm with experience and expertise in nonprofit tax return preparation to prepare the form 990. The cpa firm's tax professionals worked closely with the organization's finance personnel including, but not limited to, the vice president/chief financial officer, and director of finance and administration ("internal working group") to obtain the information needed in order to prepare a complete and accurate tax return. The cpa firm prepared a draft form 990 and furnished it to the organization's internal working group for review. The internal working group reviewed the draft form 990 and discussed questions and comments with the cpa firm. Revisions were made to the draft form 990 where necessary and a final draft was furnished by the cpa firm to the organization's internal working group for final review and approval. Following the internal working group's review and approval of the form 990, the form 990 was provided to each voting member of the organization's board of directors prior to filing with the irs.”

“THE SOLE CORPORATE MEMBER OF THE ORGANIZATION IS FINANCIAL EXECUTIVES INTERNATIONAL ("FEI"), A RELATED INTERNAL REVENUE CODE SECTION 501(C)(6) TAX-EXEMPT ORGANIZATION. FEI AND THE FOUNDATION HAVE A WRITTEN CONFLICT OF INTEREST POLICY WITH WHICH IT REGULARLY MONITORS AND ENFORCES COMPLIANCE. THE FOUNDATION ADHERES TO FEI'S CONFLICT OF INTEREST POLICY WHICH governs conflicts of interest involving: (i) members of the Board of Directors and committees empowered to act on behalf of the Board of Directors; (ii) members of the Action Teams; (iii) Chapter Presidents and Presidents-Elect; and (IV) EMPLOYEES OF FEI AND FERF (COLLECTIVELY, "INTERESTED PERSONS"). The purpose of the Policy is to protect the interests of FEI when it has entered into or is contemplating entering into a transaction or arrangement that might benefit a private interest of an Interested Person. Interested Persons must disclose all conflicts of interest as defined in the Policy, including those that might influence or be perceived to influence the actions or decisions of the Interested Person. Each Interested Person shall complete a Conflict of Interest Disclosure Form annually; however, such annual disclosures shall be supplemented promptly by additional written disclosures as required by this Policy, i.e., when an actual or potential conflict of interest arises. All Interested Persons shall bring to the attention of/disclose to FEI any actual or perceived conflict of interest involving any other Interested Person, AND ANY NECESSARY MITIGATING BEHAVIOR IS TAKEN AT THAT TIME.”

“THE SOLE CORPORATE MEMBER OF THE ORGANIZATION IS FINANCIAL EXECUTIVES INTERNATIONAL ("FEI"), A RELATED INTERNAL REVENUE CODE SECTION 501(C)(6) TAX-EXEMPT ORGANIZATION. THE FOUNDATION HAS NO PAID OFFICERS OR EMPLOYEES. THE OFFICERS AND EMPLOYEES OF THE FOUNDATION ARE COMPENSATED BY FEI. FEI'S BOARD OF DIRECTORS HAS A COMPENSATION COMMITTEE WHICH IS A STANDING COMMITTEE. THE COMMITTEE REVIEWS THE "TOTAL COMPENSATION" OF THE ORGANIZATION'S PRESIDENT/CHIEF EXECUTIVE OFFICER ("CEO") AND OTHER MEMBERS OF THE SENIOR MANAGEMENT TEAM WHICH IS INTENDED TO INCLUDE BOTH CURRENT AND DEFERRED COMPENSATION AND ALL EMPLOYEE BENEFITS, BOTH QUALIFIED AND NON-QUALIFIED. THE COMPENSATION COMMITTEE ENSURES THAT THE "TOTAL COMPENSATION" OF THE PRESIDENT/CEO AND MEMBERS OF SENIOR MANAGEMENT OF THE ORGANIZATION IS REASONABLE BY OBTAINING AND RELYING UPON "APPROPRIATE DATA AS TO COMPARABILITY" PRIOR TO MAKING ITS DETERMINATION. THE COMPENSATION COMMITTEE IS COMPRISED OF MEMBERS OF FEI'S BOARD OF DIRECTORS, EACH OF WHOM ARE INDEPENDENT AND ARE FREE FROM ANY CONFLICTS OF INTEREST. The Compensation Committee shall determine the compensation of the President/CEO of FEI, it shall approve the compensation of staff officers and staff directors and it shall review and approve the compensation policies and practices for other staff personnel. The President shall participate in all matters that come before the Compensation Committee, except matters that relate to the President/CEO's compensation. THE ACTIONS TAKEN BY THE COMPENSATION COMMITTEE ENABLE THE ORGANIZATION TO RECEIVE THE REBUTTABLE PRESUMPTION OF REASONABLENESS FOR PURPOSES OF INTERNAL REVENUE CODE 4958 WITH RESPECT TO THE TOTAL COMPENSATION OF THE PRESIDENT/CEO AND THE SENIOR MANAGEMENT TEAM. THE THREE FACTORS WHICH MUST BE SATISFIED IN ORDER TO RECEIVE THE REBUTTABLE PRESUMPTION OF REASONABLENESS ARE THE FOLLOWING: 1. THE COMPENSATION ARRANGEMENT IS APPROVED IN ADVANCE BY AN "AUTHORIZED BODY" OF THE APPLICABLE TAX-EXEMPT ORGANIZATION WHICH IS COMPOSED ENTIRELY OF INDIVIDUALS WHO DO NOT HAVE A "CONFLICT OF INTEREST" WITH RESPECT TO THE COMPENSATION ARRANGEMENT; 2. THE AUTHORIZED BODY OBTAINED AND RELIED UPON "APPROPRIATE DATA AS TO COMPARABILITY" PRIOR TO MAKING ITS DETERMINATION; AND 3. THE AUTHORIZED BODY "ADEQUATELY DOCUMENTED THE BASIS FOR ITS DETERMINATION" CONCURRENTLY WITH MAKING THAT DETERMINATION. THE COMPENSATION COMMITTEE IS COMPRISED OF MEMBERS OF FEI'S BOARD OF DIRECTORS EACH OF WHOM ARE INDEPENDENT AND ARE FREE FROM ANY CONFLICTS OF INTEREST. THE COMPENSATION COMMITTEE RELIED UPON APPROPRIATE COMPARABLE DATA; SPECIFICALLY THE COMMITTEE WORKED WITH A MANAGEMENT CONSULTING FIRM SPECIALIZING IN STRATEGIC PLANNING, ORGANIZATIONAL DEVELOPMENT AND HUMAN RESOURCE SYSTEMS. Salary grades, which set compensation ranges, are periodically reviewed by THIS independent consultant, who compares those grades to industry averages for not-for-profits. Compensation for the PRESIDENT/CEO and THE SENIOR MANAGEMENT PERSONNEL are set within the appropriate salary grades. THE COMPENSATION committee reports directly to FEI's Board of DIRECTORS wherein all discussions at the committee level are documented in written meeting minutes of the full FEI Board of DIRECTORS.”

“The organization makes its governing documents and audited financial statements available upon request. The consolidated audited financial statements can also be accessed on the organization's website.”

“The mission of financial education & research foundation ("FERF") is to advance the profession and practices of financial management through research and education. FERF publications provide insights and content to help members of financial executives international, a related internal revenue code section 501(c)(6) tax-exempt organization AND THE FOUNDATION'S SOLE CORPORATE MEMBER, make better decisions and do their jobs more effectively. FERF's objective research helps members identify and respond to trends in financial reporting, compliance and the broader marketplace. FERF engages a research methodology that creates the deep understanding financial leaders demand along with smart content that provides the most value for members and sponsors. This approach allows the audience to engage with the research from discovery through results, while embracing an interactive, "future friendly" content strategy that expands reach and attention. By leveraging its decades of experience, FERF's distribution methods create "interactive content"conversations" around topics and thought leadership that engage members throughout the research cycle. Whatever the medium, FERF translates market trends into shareable content, and allows the audience to engage in the research process, from discovery to results. FERF provides professional development solutions for financial leaders that take their skills to the next level, with continuing professional education credit opportunities available through courses, conferences, webinars, and on demand learning. Individuals can access events on FEI's website that combine leadership, technical and career development skills with peer networking opportunities. FERF is focused on creating developmental educational programming designed to foster career, personal and leadership development.”

“The organization's audit committee, meeting jointly with the fei audit committee, pursuant to the organization's bylaws, shall annually recommend to the board a firm of independent accountants to audit the accounts of ferf, to review and approve the scope of the audit program, to receive and review the report of the independent accountants and to review and recommend audit and other related fee arrangements for approval by the board. The fei and ferf audit committees meet jointly at least twice per year with the external auditors and senior management. The purpose of the first meeting is to discuss the audit planning, areas of audit emphasis and the audit schedule. The second meeting is to review the results of the audit, the auditors' report to management and to select an accounting firm for the upcoming audit. Additional audit committee meetings are scheduled as required.”