American Osteopathic Foundation

“Aof's board retains the services of an independent cpa firm to prepare the organization's form 990. Management reviews the completed form 990 for accuracy; then a meeting or conference call is scheduled for the cpa firm and organization management to discuss the form 990 with the finance (or otherwise designated) committee. A full copy of the form 990 is provided to all voting members of the board prior to filing.”

“All aof officers, directors and key employees are annually required to complete a conflict of interest disclosure statement as a precursor to their service to the organization. Potential conflicts are logged with and monitored by the secretary of the board.”

“Compensation review procedures are performed by the american osteopathic foundation's (aof) executive committee; then shared with the full board. Each executive committee member is free from any relationships or conflicts of interest with respect to the organization or the organization's staff that may impair, or appear to impair, the director's ability to make independent judgments regarding compensation policies. Members of the committee are appointed by the board and may be removed by the board in accordance with the bylaws. It is the committee's responsibility to develop, review and approve the compensation, benefits, and annual merit increase annually for the organization; generally in concert with the annual budget review and approval process. Every few years, the executive (or compensation) committee may retain a compensation consultant to assist in a compensation evaluation; including a comparability analysis that includes other organizations within the industry and relevant geographic market. Within the budget guidelines of the organization, the committee annually approves corporate goals and objectives relevant to compensation of the employees of the aof including the ceo. The committee evaluates the ceo's performance in light of the goals and objectives, and reviews and recommends any changes to the ceo's compensation, including (a) salary; (b) increase, (c) bonus, (d) supplemental benefits, including health, retirement benefits and deferred compensation; (e) employment agreements, severance arrangements, and any amendments or waivers to these agreements or arrangements, based on this evaluation. The executive committee reviews the ceo's reviews of all other employees and discusses recommendations in the following areas: (a) salary; (b) annual or bi-annual increase (c) supplemental benefits, including retirement benefits and deferred compensation; (d) employment agreements, severance arrangements, and any amendments or waivers to these agreements or arrangements. Once reviewed, the compensation, or executive committee, makes a recommendation to the full board for its approval of the ceo; and all other staff increases are discussed in concert with the review and approval of the annual budget.”

“Governing documents, financial statements and the conflict of interest policy are available upon written request to the organization.”

“The process has not changed from the prior year.”