The Ohio Masonic Home Benevolent Endowment Foundation Inc

“Members: the members of the board of trustees of this corporation shall constitute the members of the corporation as provided in section 1702.14 of the ohio revised code. Membership or any interest in this corporation shall not be assignable by any member. Membership and any interest in this corporation shall not pass to any personal representative, heir or devisee of a member. Membership of any member shall cease upon his death or resignation, or upon the expiration of his term as a member, as further defined by the code of regulations of the corporation.”

“990 review process: the form 990 is prepared by an outside accounting firm who then submits the form 990 to the president of the foundation, ceo, cfo, and the audit committee for review. A copy of the form 990 was provided to the board of trustees prior to the filing.”

“Monitor and enforce conflict of interest policy: all trustees and certain employees are required to annually complete a conflict of interest declaration. The declaration is collected and kept on file.”

“PROCESS FOR DETERMING COMPENSATION: THE Board OF TRUSTEES DETERMINES THE COMPENSATION OF THE ORGANIZATION'S PRESIDENT. COMPENSATION IS APPROVED IN ADVANCE FOR ALL EMPLOYEES THROUGH THE ANNUAL BUDGET APPROVAL, AND THE DETERMINATIONS ARE RECORDED IN THE MEETING MINUTES AT THE TIME THE DECISIONS ARE MADE. THE REASONABLENESS OF THE COMPENSATION PAID IS REVIEWED PERIODICALLY WITH A REVIEW OF COMPENSATION DATA WHICH MAY BE AVAILABLE THROUGH PUBLISHED SOURCES OR THROUGH COMPARABLE ORGANIZATIONS AND/OR INDUSTRY GROUPS. THE ORGANIZATION HAS COMPENSATION GUIDELINES FOR MOST OTHER POSITIONS.”

“The organization makes its governing documents, conflict of interest policy, and its financial statements available to the public upon request.”

“Other Changes in Net Assets: Net change in actuarial loss on pension plan $89,358 Change in value of beneficial interest in perpetual trusts $46,434 ------------------ Total Other change in net assets $135,793”

“The Foundation's endowments consists of funds established for perpetuity as donor-restricted endowment funds and set aside by the trustees. Net assets associated with the endowment fund are classified and reported based on the existence of donor-imposed restrictions. The Foundation's Board intends to comply with the State of Ohio's Uniform Prudent Management of Institutional Funds Act (UPMIFA). The Foundation has adopted investment and spending policies for endowment assets that attempt to provide a stream of funding to programs supported by its endowment while seeking to maintain the purchasing power of the endowment assets. The foundation, through its fundraising activities, seeks to grow the ability of endowment assets in order to expand the ability to help those in need. Endowment assets include those assets of donor-restricted funds that the foundation must hold in perpetuity. Under the policy, as approved by the Foundation's Board, the endowment assets are invested in a manner that is intended to pursue results that may exceed the price and yield results of various market indices based on type of investments while assuming some investment risk. Actual returns cannot be predicted. To satisfy its long-term rate-of-return objectives, the Foundation relies on a total return strategy in which investment returns are sought through both capital appreciation (realized and unrealized) and current yield (interest and dividends). In establishing this policy, the Foundation considered the long-term expected return on its endowment.”