Virginia Gildersleeve International Fund

“The governance committee moves the following change to the vgif bylaws. The duty of appoitment of a certified public accountant to provide an annual audit is transferred from board of directors to audit committee.”

“The fund was constituted as a membership organization. The members are those persons who support the stated aims and purposes of the fund and make an annual contribution of atleast $25. All individual members have the privilege of voting at the annual meeting.”

“At the annual meeting, the members shall elect the officers, members of the board of directors, and members of the nominating committee.”

“The bylaws may be amended at any annual meeting or special meeting of the membership called for that purpose by a two-thirds (2/3) vote of those voting, in person or by written proxy. At the annual meeting, the members shall elect the officers, members of the board of directors, and members of the nominating committee.”

“Virginia gildersleeve international fund has its form 990 prepared by an outside accounting firm. When the form 990 has been prepared, reviewed by executive director and audit committee and is ready to be filed with the internal revenue service, it is electronically sent to the board members of the organization for any comments. Any comments are then grouped, summarized and provided to the outside accountants. Each issue is documented and addressed until the return is finalized and approved for filing.”

“Vgif presents its conflict of interest policy each year at its annual meeting to all board and committee members. All board and committee members are required to sign and return vgif's conflict of interest policy each year that runs april through april. In connection with any actual or possible conflict of interest, an interested person must disclose the existence of the financial interest and be given the opportunity to disclose all material facts to the directors and members of committees with governance board delegated power considering the proposed transaction or arrangement. Members of the board must also recuse themselves from voting if/when a conflict is present. After disclosure of the financial interest and all material facts, and after any discussion with the interest person, he/she shall leave the governing board or committee meeting while the determination of a conflict of interest is discussed and voted upon. The remaining board or committee members shall decide if a conflict of interest exists. The policy is applicable to board officers, director, and employees. At the start of each calendar year, the staff reviews the requirement and collects the signatures on the forms. When a conflict is declared, the interactions and decision making of each party is monitored. If applicable, parties would recuse themselves from related decisions.”

“Vgif used the following process for determining the compensation for the executive director: in 2016, vgif began the process of replacing the previous full-time executive director. The selection and hiring process began with the engagement of a consultant who developed a draft position description and announcement. The consultant also recommended a salary range consistent with the description requirements and the new york city market for comparable positions. The committee responsible for the selection of a candidate made a recommendation to the executive committee in september 2016 to approve an appropriate salary range in anticipation of negotiating with one of the candidates. This recommendation was approved by the executive committee in september and affirmed by the board at the october board meeting. The new executive director was offered and accepted a salary within the approved salary range.”

“The organization makes its form 990 available for public inspection as required under section 6104 of the internal revenue code. It is posted on new york state attorney general, guidestar.org and other similar types of websites. In addition, the financial statements, conflict of interest policy, articles of incorporation, form 990, form 1023, and by-laws are available upon written request at 11 broadway, room 510, new york, ny 10004 or by calling the organization directly at 212-213-0622.”

“Vgif provides small grants for local programs & projects which improve the lives of women & girls. Through these initiatives delivered by grass-roots women-led nonprofit organizations, the outcome of grants is improvement of the lives of women and girls, their families, communities, and ultimately their regions and countries. The programs and projects address diverse issues in underdeveloped economies worldwide such as: * legal rights; * medical and maternal health services; * economic and community development; * financial literacy; * improve medical services; * literacy and leadership training; * stem education and training; and * human rights education;”

“Vgif has a committee that 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.”