Navy League Foundation

“Both the nlus president and chairperson of the nlf board appoint members of the board of trustees.”

“The top management official, top financial official along with members of the financial team reviewed the return after it was prepared by our tax preparers from the books, records and other information supplied by the organization. The return was then made available to the board of directors for review prior to filing these documents with the irs.”

“When the board of the foundation meets the chair reminds the board of the conflict of interest policy and asks them to disclose any conflicts of interest. The foundation requires all board members, officers and staff to sign the conflict of interest policy, acknowledging that they have read and understood it and that they will inform the foundation, in writing of any conflicts under this policy.”

“The foundaton's governing documents, conflict of interest policy and financial statements are available to the public upon request to the foundation at: navy league foundation, attn: executive director, 2300 wilson boulevard, suite 200. Arlington, va. 22201. The foundation maintains a public inspection file. The organizations tax returns are available in the public inspection file, upon request and on the "guidestar" website for the same period of disclosure as set forth in section 6104(d).”

“Navy league foundation does not compensate anyone shown in part vii of the form 990 or schedule j, part ii. The compensation shown in these sections is paid by navy league of the united states, the organization's related organization. Navy league foundation relies on the compensation determination methodology of navy league of the united states. The following is the compensation methodology used by navy league of the united states: the nlus executive director's compensation is determined and reviewed by the national president in consultation with the compensation committee of the league. The committee may consult with independent persons in determining the pay package offered to the executive director. A written employment agreement is executed. The nlus staff's compensation is determined and reviewed by the executive director [ed]. The ed may consult with the national president and the compensation committee on pay ranges and fringe benefits offered to the employees of the league. All staff have written employment agreements.”

“Other professional fees: program service expenses 3,000. Management and general expenses 27,000. Fundraising expenses 0. Total expenses 30,000.”

“The process for overseeing the review of the financial statements and selection of an independent accountant that audited the financial statements has been consistent with prior years.”