Shrm Foundation Inc

“Compensation for the president was approved by shrm's chief human resources officer in consultation with the foundation board chair. The following was used to establish the compensation: independent compensation consultant, form 990 of other organizations, and a compensation survey or study. Compensation amounts are commensurate with the external market and directly linked to the individual's performance.”

“The foundation has a strategic partnership agreement with the society for human resource management (shrm) whereby shrm provides management and administrative support services for the foundation. Shrm services consist of those typically provided by a cfo, including in pertinent part: preparation of monthly financial statements, oversight of the annual audit, tax return preparation, investment assistance, and advice and counsel on finances. In addition, the foundation has agreed to adhere to shrm administrative and financial processes and policies (e.g., purchasing, document retention, and contract approval). Under this agreement, the foundation budget is prepared in consultation with shrm.”

“The society for human resource management (shrm) president/ ceo, or his designee, shall be a voting ex officio director on the foundation's board. The shrm board is required to elect the remaining foundation directors.”

“The draft federal form 990 is prepared by the independent public accounting firm that conducts the financial statement audit of the foundation. The draft is reviewed by shrm. Prior to filing the federal form 990 with the internal revenue service, a complete copy is provided to all voting members of the foundation's board of directors.”

“It is shrm foundation's intent to avoid impropriety in all of its decisions and actions. The board's conflict of interest policy provides procedures for addressing potential conflicts of interest that may require board or committee action, such as: 1) the interested person must disclose all facts material to the conflict of interest and such disclosure must be reflected in the minutes of the meeting where such matter is being reviewed and 2) such person's ineligibility to vote should be reflected in the minutes. Additionally, the shrm employee code of conduct applies to all shrm foundation employees. The code of conduct requires employees to avoid transactions, activities and relationships which place personal interest in conflict with shrm foundation not to use organizational assets or their position at shrm foundation for personal use or gain not to accept gifts from vendors unless within specified gift guidelines. If a conflict or potential conflict arises, employees are required to disclose such conflict of interest to their president and the employee must not be involved in the selection, management or oversight of such vendor.”

“The foundation will consider making its governing documents, conflict of interest policy and audited financial statements available to the public upon request.”

“Research - Total Expense: 376821, Program Service Expense: 376821, Management and General Expenses: , Fundraising Expenses: ; Strategic Initiatives - Total Expense: 3024232, Program Service Expense: 2834585, Management and General Expenses: 189647, Fundraising Expenses: ; Grants & Awards Program - Total Expense: 347117, Program Service Expense: 347117, Management and General Expenses: , Fundraising Expenses: ; Fundraising Strategy Consulting - Total Expense: 243757, Program Service Expense: , Management and General Expenses: , Fundraising Expenses: 243757;”

“Pension-related charges, incl. Net pd. Pension costs other than svc. Cost - 425958;”