Wayne County Indiana Foundation Inc.

“Per the by-laws, the members of the corporation consist solely of the active members of the board of directors.”

“The form 990 is disucssed in a board meeting and sent out via email attachment to the board members prior to the final due date of the information return. If changes are required, they are made and a finalized copy is either reviewed at a subsequent meeting prior to submission or provided to each board member via an email attachment.”

“Members of the board of directors, volunteers who serve on committees and staff members review the policy annually. After review, the individuals sign a declaration acknowledging the receipt of the policy and disclosing any current, potential conflicts. They also agree to disclose any future conflicts as required by the policy. When conflicts arise in an official action by a committee or the board of directors, the person with the conflict discloses the conflict, and the disclosure is noted in the minutes of the meeting. The person with the conflict may briefly address the board of directors or committee and may answer questions to provide knowledge that may be of benefit to the other members. The person who declares the conflict then abstains from further discussion and voting. On some occassions, the person who declares the conflict is asked to leave the room during the discussion.”

“Determining the salary and benefits for the executive director is the responsibility of the board of directors. The foundation staff and finance committee begin work in october to draft an operating budget for the coming year. At this time, the staff assembles comparative salary information for all staff positions from national, regional and local salary surveys. The executive committee uses this information as a point of reference, in addition to other pertinent factors, to recommend a total salaries expense. This represents a maximum amount pool from which all staff salaries, including any cost of living and merit raises, must be derived. Board members will be asked to complete a survey or otherwise provide feedback relating to the executive director's performance. The board chair will assimilate this information and share it with the executive committee at their meeting in june. Based on this information, as well as all available salary survey data, the executive committee will set the executive director's salary for the fiscal year of july 1 - june 30.”

“The foundation makes its governing documents, conflict of interest policy and financial statements available to the public immediately upon request through the foundation office. Additionally, financial information is made available in its annual report which is widely distributed to the public via mailings and other means of disbursement, as well as on the foundation's website. The foundation's form 990 is available online at www.guidestar.org. A link to www.guidestar.org is on the foundation's website. The website also has several prior years of form 990 that can be viewed directly. The form 990 is also immediately available upon request through the foundation office.”

“Fas 136 adjustment -129,984. Change in split interest agreements -139,298. Rounding 2.”

“There has been no change in the selection process for the independent auditor or in the method of oversight.”