Heifer Project International

“The executive committee shall act on behalf of the board between meetings of the board, and shall report to the board on any action it takes within fourteen (14) days after the action. The executive committee shall monitor (a) the president and chief executive officer's performance, as outlined in the governance policies, (b) the president and chief executive officer's compensation, and (c) the board's own adherence to governance and its relationship with the president and chief executive officer, as also outlined in the governance policies.”

“The form 990 is prepared by internal finance staff and provided to the cfo, board of directors and to an external tax firm for review. Any recommended changes are made prior to filing.”

“Heifer project international (heifer) has had a code of conduct in place since march of 2000 for its board of directors, and the code of conduct contains a conflict of interest section. Heifer has had a conflict of interest policy in place for its employees since december of 2001. Board members are required to annually disclose interests that could give rise to conflicts. Employees are encouraged to report suspected conflicts of interest to their supervisors or to human resources. In addition, heifer provides an anonymous confidential reporting outlet for use in reporting behavior or activities that appear to violate heifer policies. Both the board and senior management address conflicts of interest on a case-by-case basis as they arise.”

“In accordance with governance policies and procedures, the president and ceo's performance is reviewed annually. Merit increases and base salary adjustments are considered as part of this review and monitoring process. The heifer board of directors engages an independent consulting firm to conduct a compensation analysis and provide recommendations for adjustments. The firm's approach draws on market data from two highly regarded national compensation surveys of not-for-profit organizations, as well as total cash compensation data for ceos of nine organizations with comparable missions, scopes, and operating budgets, based on information obtained from irs form 990s. As part of the performance review process, the board chair solicits input from members of the ceo's direct and indirect reports. The heifer board of directors reviews and discusses the 360-degree feedback, along with the ceo's achievement of goals, directly with the ceo.”

“Audited financial statements are available upon request; other select documents are made available for inspection at heifer project international headquarters in little rock, arkansas.”

“In current year, heifer project international determined that it was more appropriate to include in column (b) (end of year) to match audit report note 1. Conforming adjustments have been made to the current year beginning of year amounts listed in column (a) of part x.”

“Foreign currency translation adjustment -26,856. Change in interest in net assets of heifer international foundation 8,359,677.”

“Heifer project international has maintained the same processes from previous years in relation to the oversight of the audit of the financial statements by an independent accountant.”