Heifer Project International

“Changes to the Bylaws of Heifer Project International include the composition, qualifications and authority of the governing body, the provisions to amend the organizing bylaws and the policies and procedures contained in the bylaws.”

“An initial draft of Heifer International's IRS Form 990 was completed by its internal staff, with assistance from an external accounting and advisory firm engaged to provide a third party review. The draft was then circulated for further review, via electronic mail, to a group of three (3) Heifer International Board Members. A telephonic meeting was held on November 7, 2014, during which Heifer International's internal staff presented the draft to the group, and accepted comments and questions. While this group did review and provide comments and questions, Heifer International's Board relied upon Heifer International's internal staff to properly complete the IRS Form 990. Heifer International staff then made adjustments and modifications to the draft and, with continuing assistance from the external firm, finalized its Form 990. Once the Form 990 was final it was delivered to all Heifer International Board Members via electronic mail, and then e-filed with the Internal Revenue Service.”

“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, base salary adjustments and or bonuses are considered as part of that review and monitoring process. The Heifer Board of Directors utilizes an independent analysis conducted by an outside consulting firm to assist in the analysis and subsequent recommendations for compensation adjustments. The approach used by the consulting firm utilizes market data obtained from two highly regarded national compensation surveys of not for profit organizations and data on total cash compensation for CEOs of nine organizations with comparable mission, scope and operating budget based on information obtained from IRS form 990s. Each member of the Heifer Board of Directors has the opportunity to complete and submit a performance evaluation form for the CEO. The results are compiled and reviewed with the CEO by the executive committee of the board. The executive committee then presents, for approval, its findings and recommendations to the full Board of Directors. These findings and recommendations include adjustments to compensation if warranted and are supported by organizational funding availability and independent market analysis.”

“Audited financial statements are available on Heifer's website; other select documents are made available for inspection at Heifer Project International headquarters in Little Rock, Arkansas.”

“Change in interest in net assets of Heifer International Foundation $12,033,882 Thailand LSE Deconsolidation Adjustment ($36,094) Foreign Currency Translation Adjustment ($115,867)”