Grace Brethren Investment Foundation

“The bylaws were amended to update the number, process for election, and process for removal of board members.”

“The organization has one class of members. Membership in the Corporation consist of those persons who contribute $25.00 or more during the fiscal year to support the ministries of the Corporation, or ministries administered by the Corporation, and who are affiliated with a local church associated with the Fellowship of Grace Brethren Church. The individual members of the corporation elect 4 of the 10 members of the Board of Directors and vote on changes to the corporate articles.”

“The Board consist of 10 members elected by the following parties: - (3) by an officer of Fellowship Council of the Fellowship of Grace Brethren Churches - (3) by an officer of Brethren Missionary Herald Company (media company of the Fellowship of Grace Brethren Churches) - (4) by the members of the Corporation.”

“The individual members vote on changes to the corporate articles.”

“The Form 990 is prepared and reviewed by an independent certified public accounting firm. The Secretary/Treasurer and selected members of the governing board also review the Form 990. The final return, as filed with the IRS is then sent electronically to the full board prior to filing.”

“A conflict of interest questionnaire is completed annually. Both officer and board members sign the policy. Potential conflicts are reviewed by the board of directors. Names of directors who may have conflict are noted in the board minutes; said directors abstain from voting.”

“Executive care committee members, appointed by the Board of Directors and all of whom are independent, use comparable data from other not-for-profit organizations to review, evaluate, and compare compensation data for the CEO. The executive care committee then recommends the CEO's compensation package to the Board for approval. The Board of Directors also appoints the Finance Committee to review compensation and benefits paid to other employees and make appropriate recommendations. The governing board then deliberates and approves final compensation and benefit packages. The deliberations are recorded in the minutes. This process was last completed during the tax year.”

“The organization's governing documents, conflict of interest policy, and financial statements are available upon request. The annual report is distributed in various mailings throughout the year and also during the annual corporation meeting.”

“(A) To asssist in the extension of Christian work by and through the agencies of the Fellowship of Grace Brethren Churches and the agencies of this corporation, and to contribute and loan funds to Grace Brethren Churches, conventions or associations of churches, Grace Brethren schools, and affiliated organizations. (B) To provide funds for Biblical teaching, to assist evangelical work, to assist churches of Grace Brethren Faith and Grace Brethren Missionary Societies, and to assist and encourage men and women in the dedication of their lives to definite Christian services. (C) To receive, hold, borrow, invest, loan, and disburse funds; to own, mortgage, lease, rent, and sell real and personal property of all kinds in order to attain the aforesaid purposes. (D) To promote Christian religion through the Fellowship of Grace Brethren Churches and to promote the charitable missionary institutions of the Fellowship of Grace Brethren Churches. (E) In furtherance of the aforesaid purposes, to transact any and all lawful business for which corporations may be incorporated under the act, provided such business is not inconsistent with the corporation being organized and operated exclusively for charitable purposes. (F) Notwithstanding the foregoing, the corporation is organized, and at all times thereafter will be operated, exclusively for the benefit of, to perform the functions of, or to carry out the purposes of the Fellowship of Grace Brethren Churches and its associated and affiliated churches, schools, and organizations.”

“The organization has a committee that assumes responsibility for oversight of the audit of its financial statements and selection of an independent auditing firm. This process has not changed since the prior year.”