Northern Indiana Education

“It is the northern indiana education foundation's policy that each director be provided a copy of the organization's finalized form 990 for review prior to filing with the irs. The executive director provides a copy to each director either at the board meeting, by mail, hand-delivered, or emailed prior to the meeting. The directors have authorized the board treasurer to perform the final review of the draft form 990, who will subsequently present his recommendation to accept the finalized form 990. Distribution and approval is documented in the board meeting minutes.”

“The northern indiana education foundation's board of directors adopted and regularly evaluates a written conflict of interest policy. To monitor compliance with the conflict of interest policy each director is given an opportunity to disclose interests that could be in conflict, or possibly give rise to a conflict, by completing and signing a disclosure form each year. The board president reviews each signed form, determines if a conflict exists, and ensures that action is taken to resolve the conflict. If a potential conflict of interest exists with respect to a proposed transaction between an interested board member and the organization, that board member will not participate in the deliberations, and decision-making vote, by the other disinterested board members on the proposal. Board minutes will reflect the potential conflict disclosure, vote taken, and abstention from voting of the interested board member.”

“Compensation for the executive director and board officers is determined annually as part of the budget and salary presentation. Approval by the full board of directors is required and documented in the annual meeting minutes. The executive director's compensation and benefits are stated in her employment contract, which is also reviewed annually. The process for determining fair and reasonable compensation is linked to education, experience, extent of job duties, performance, and data obtained from comparable industry. National and regional comparability data was reviewed for the job categories and duties performed by the executive director, including but not limited to administration with additional property and facilities management responsibilities.”

“Forms are available upon request.”

“The board of directors assumes responsibility for the oversight of the review of financials and selection of an independent accountant. The board of directors reviews the reviewed financial statements before they are finalized. The oversight and selection process has not changed from the previous year.”