Gracewood Inc

“Management duties have been delegated to children at heart ministries (cahm), a related not for profit organization. Mangagement duties include providing personnel, office facilities, and general management services. Please refer to form 990, part vii for compensation for todd roberson, president and ceo of cahm.”

“At all times at least a majority of the trustees of the organization shall be individuals elected by the board of trustees of children at heart ministries. The places of the trustees to be elected by the board of trustees of cahm shall be designated by the places one through the smallest number necessary to achieve such a board of trustees. Each year, the trustees of the organization designated by such numbers shall be elected by the board of trustees of cahm. The board of trustees of the organization shall elect the remaining trustees at the annual meeting of the board of trustees each year, unless required to be held earlier because of vacancies.”

“The articles of incorporation and bylaws may not be amended to change the requirement that at all times at least a majority of the trustees of the organization must be elected by the board of trustees of cahm without the former approval of cahm or its successor organization.”

“Prior to filing the form 990, the children at heart ministries audit subcommittee along with the appointees from each governing board reviews and approves the form. Following the approval, a copy of the form 990 is provided to each member of the governing board through mail and/or electronic distribution.”

“The organization reviews annual conflict of interest forms and maintains regular communications with board members so the organization would be aware of any potential conflicts.”

“Compensation of officers, directors, and top management officials are reviewed by the executive evaluation committee. The committee meets at a minimum once a year to evaluate employment and compensation of president. Comparability data is reviewed. Such meeting(s) are held near the presidents annual employment anniversary date to evaluate performance and adjust or set compensation as committee deems appropriate.”

“All governing documents, conflict of interest policies, and financial statements are available upon request.”

“Professional fees: program service expenses 222,501. Management and general expenses 0. Fundraising expenses 0. Total expenses 222,501.”