Community Association Institute Research Foundation

“The executive committee shall be composed of the president, president-elect, secretary and treasurer of the foundation, plus any additional members, which the board may from time to time designate from among its members. The executive committee shall have and may exercise all the authority of the board in managing the affairs of the foundation during the intervals between board meetings. The executive committee shall not have the authority of the board in reference to amending the articles of incorporation; adopting a plan of merger or consolidation; approving the sale, lease, exchange, or other disposition of all or substantially all the property and assets of the foundation otherwise than in the usual and regular course of its business; approving a voluntary dissolution of the foundation or a revocation of that voluntary dissolution; amending, altering or repealing the bylaws of the foundation; electing, appointing, or removing any member of the executive committee or any director or officer of the foundation; or taking any action contrary to or inconsistent with a resolution or other directive of the board. All actions of the executive committee shall be subject to review by the board.”

“Community associations institute (cai) provides management services to fcar per written agreement. Cai performs duties commonly performed by the executive director and staff of a foundation. Cai assigns an executive director and other employees to serve the foundation. Cai also provides office and equipment to manage the foundation. Cai monitors the budget of fcar, and is authorized to handle funds on the behalf of fcar. Cai may negotiate and enter into agreement for the purchase of goods & services for the foundation. The executive director of fcar, the ceo of cai, and the cfo of cai are all compensated by cai both for services provided to fcar as well as to cai. Compensation amounts for service to fcar were as follows (reportable, deferred, nontaxable benefits): david jennings, executive director fcar: $23,354; $0; $5,283 thomas skiba, ceo of cai: $15,549; $561; $1,241 bruce townsend, cfo of cai: $12,831; $550; $2,046”

“The return is reviewed internally by cai's cfo. The draft 990 is sent out to the foundation board for review before it is submitted to the irs.”

“The foundation maintains a conflict of interest policy document that is updated annually. It asks members of the board of directors to disclose any potential conflicts by naming them if they exist and signing the form. The foundation pays a management fee to cai for staffing. Cai maintains a separate conflict of interest policy and form for key staff that work on foundation programs and administration. It is also updated annually.”

“The foundation's audited financial statements are available to the public on the "about us" section of our website. All other documents are made available upon request.”

“The audit oversight and selection process has remained unchanged from the prior year.”