Barnabas Foundation

“The Executive Committee is a sub-committee of the board composed of 5 active board members that meet more frequently in between the semi-annual full board meetings. The Executive Committee has full authority to act on behalf of the board.”

“Barnabas Foundation has approximately 190 member organizations. There are two classes of members with different rights: 1. Individual and Charter members - These members vote on the slate of directors once a year and approve the annual budget. 2. Organization members - These members do not have the right to vote.”

“Barnabas Foundation's Individual and Charter members vote annually on an independent slate of directors. Directors are elected to a three year term with a second three year term option.”

“An Individual and Charter member meeting is held once each year in September to approve the annual operating budget and to receive a report from the Board and management on the prior years activities. The Board is vested with all the powers of the Foundation and acts on behalf of the membership. Decisions by the Board are not submitted to the membership for approval.”

“Form 990 is prepared by an independent CPA firm and reviewed in detail by the Director of Finance and Executive Director before board review. The governing board appoints the audit committee to review Form 990, and a copy is also sent to the board prior to filing.”

“The board and staff complete a conflict of interest questionnaire annually. These questionnaires are submitted to the board and audit committee and conflicts are noted and if necessary acted upon. Should any potential conflicts of interest be disclosed, the board member or officer would be asked to refrain from participation in any deliberation or decision with regard to matters affected by the relationship.”

“The governing board assigns an Executive Committee, comprised of independent persons, to assist in determining the compensation packages for management level employees. The Executive Committee gathers comparable compensation information from foundation peers and other related exempt organizations, and uses this information to determine the wages and benefits for the Director Management Team (this consists of the Executive Director, the Director of Finance & Administration, the Director of Marketing & Communications, the Director of Investment Services, and the Director of Planned Giving Services). The Director Management Team sets the salaries of all remaining staff, including the Treasurer and Secretary. This information is provided to the governing board and approval of the compensation and benefits information is contemporaneously documented in the corporate minutes. This process is completed on an annual basis.”

“Barnabas Foundation makes its governing documents, conflict of interest policy, and financial statements available to the public upon request.”

“Change in value of charitable trusts -1,297,551. Change in value of charitable gift annuities -1,391,958.”

“The organization's audit committee assumes responsibility for oversight of the audit of its financial statements and selection of its independent accountant. This process has not changed since the prior year.”