Act for Alexandria

“The 990 is reviewed by act's finance committee which will then take it to the executive committee and then to the board of directors.”

“Responsibility for monitoring the conflict of interest policy lies with the board chair as it relates to board memebers, volunteer committee members, and the executive director. The executive director is responsible for monitoring as it relates to members of act's staff. Board members have the affirmative responsibility to report to the board chair (in the case of concerns related to board members, committee members or the executive director) or to the executive director (in the case of concerns related to members of the staff) any and all knowledge of action or conduct that appears contrary to the conflict of interest policy. Before a member or staff begins service with act, they shall file with the executive director a list of the member's/staff's principal business activities, as well as involvement with other charitable and business organizations, vendors, and other associations that might produce a conflict of interest. Subsequently, each member and staff shall sign a statement that affirms their understanding and agreement with the policy.”

“The executive committee reviewed the compensation of act's executive director, act's program director, and outside contractors hired for specific tasks; reviewed and analyzed the compensation requirements of other candidates for the position who applied in response to the broadly posted job annoucement, referrals from board members and other influences; surveyed nonprofit organizations of comparable scale in alexandria, northern virginia, and the washington dc metropolitan area generally; consulted with executives at other community foundations in the region and at the council on foundations. Based on that information, the act executive committee then formulated a compensation package within the parameters of the executive directors of comparable organizations in that region.”

“Governing documents, conflict of interest policy, and financial statements are available upon request.”

“The audit committee assumes the responsibility of the review of the financial statements and selection of independent accountants. The process has not changed from previous years.”