Green Beret Foundation

“The president & ceo distributes the completed form 990 to the board of directors for review. If the board members have any questions, the president & ceo addresses those inquiries.”

“1. 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 board. Any director may recuse himself or herself at any time from involvement in any decision or discussion in which the director believes he or she has or may have a conflict of interest, without going through the process for determining whether a conflict of interest exists. After disclosure of the financial interest and all material facts, and after any discussion with the interested person, he/she shall leave the board meeting while the determination of a conflict of interest is discussed and voted upon. The remaining board members shall decide if a conflict of interest exists. An interested person may make a presentation at the board meeting, but after the presentation, he/she shall leave the meeting during the discussion of, and the vote on, the transaction or arrangement involving the possible conflict of interest. The chairperson of the board shall, if appropriate, appoint a disinterested person or committee to investigate alternatives to the proposed transaction or arrangement. After exercising due diligence, the board shall determine whether gbf can obtain with reasonable efforts a more advantageous transaction or arrangement from a person or entity that would not give rise to a conflict of interest. If a more advantageous transaction or arrangement is not reasonably possible under circumstances not producing a conflict of interest, the board shall determine by a majority vote of the disinterested directors whether the transaction or arrangement is in gbf's best interest, for its own benefit, and whether it is fair and reasonable. In conformity with the above determination, it shall make its decision as to whether to enter into the transaction or arrangement. Each director, principal officer and member of a committee with board delegated powers shall annually sign a statement which affirms such person: a. Has received a copy of the conflict of interest policy, b. Has read and understands the policy, c. Has agreed to comply with the policy, and d. Understands gbf is charitable and in order to maintain its federal tax exemption it must engage primarily in activities which accomplish one or more of its tax-exempt purposes. 2. Each voting member of the board shall annually sign a statement which declares whether such person is an independent director. 3. If at any time during the year, the information in the annual statement changes materially, the director shall disclose such changes and revise the annual disclosure form. 4. The board shall regularly and consistently monitor and enforce compliance with this policy by reviewing annual statements and taking such other actions as are necessary for effective oversight.”

“The president & ceo conducts research to identify fair and equitable compensation rates for each position commensurate with job duties, level of experience, qualifications and other relevant factors with the assistance of financial and administrative support resources including assessment of internal equity. Compensation information is included in the annual budget process which is reviewed and approved by the board of directors. Compensation for the president & ceo is set by the board of directors, the process for which includes review of 990's, market data and similar assessments of position scope, experience and qualifications.”

“Green beret foundation makes its annual reports, conflict of interest policy, and 990 available to the public on its public website and/or upon written request.”

“Green beret foundation 10205 us hwy 15-501, unit 26-8 southern pines, nc 28387-4301 employer identification number: 27-1206961 for the year ending december 31, 2024 green beret foundation is making the de minimis safe harbor election under reg. Sec. 1.263(a)-1(f).”

“Other fees: program service expenses 259,129. Management and general expenses 130,418. Fundraising expenses 49,863. Total expenses 439,410.”

“The organization's process for assuming responsibility for oversight of the audit, review, or compilation of its financial statements and the selection of an independent auditor have not changed from the prior year.”