Asts Foundation

“The affiliated organization, the society, has members that elect the governing body which serves both the society and the foundation.”

“The federal form 990 is prepared by an independent accountant and upon submission of the draft, is reviewed by the secretary/treasurer and executive director. The form 990 is presented to the board of directors for review and discussion prior to finalizing with the internal revenue service. Formal approval is recorded in the minutes.”

“To ensure accurate, up to date information, each board member reviews his or her disclosure statement during face-to-face meetings and updates as necessary between meetings. Each board member clearly describes his or her interest in each such issue, subject, person or entity on this form and return to the foundation's executive director. The information on this form is reviewed by the president and executive director, and shared with the board of directors if relevant to the discussion at hand. The board member may voluntarily recuse him/herself from discussion and/or voting on the basis of a conflict of interest. In addition, the board of directors may require that the foudation's member: (a) refrain from voting on the issue, (b) not participate in either the discussion or the vote on the issue, (c) leave the room during discussion and voting on the issue, or (d) explain his or her interest in the matter fully so the board of directors may weigh the board members further participation.”

“Governing documents and conflict of interest policy are available on the public portion of the website. Financial statements are provided upon request.”

“The foundation does not directly hire or compensate employees. All employees are employees of the society, a related organization. The cost of the society's officer and highly compensated employees are allocated under the terms of a cost sharing agreement. As such, the foundation is reporting zero employees on the form w-3 for 2020.”