American Farm Bureau Foundation For

“The sole member of the foundation is the american farm bureau federation.”

“The sole member of the foundation elects the board of directors.”

“The sole member of the foundation annually approves the budget. The sole member may increase or decrease the number of directors of the foundation. Directors and officers may be removed from office at any time, with or without cause, by action of the sole member. The sole member may fill vacancies on the board. The sole member may update the bylaws.”

“The board retains the services of an independent cpa firm to prepare the foundation's form 990. Management reviews the completed form 990 and provides a full copy to all voting members of the governing body prior to filing. The governing body is provided a reasonable amount of time to review the return and ask any questions directly to organization management or the contact at the independent cpa firm prior to filing.”

“Officers, directors and 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.”

“The foundation does not have any employees. The foundation pays fees to the american farm bureau federation (afbf) for personnel services. Afbf also contributes the services of certain employees to the foundation related to management and the promotion of agricultural education. Afbf's process for determining compensation of its employees are as follows: afbf maintains a grade structure and each year, afbf reviews its grade structure to determine if the ranges need to be adjusted based on factors such as cost of living and changes in the market. Afbf will periodically consult with a third party to review the grade structure and conduct a review of market data. The grade ranges may be shifted in accordance with market or survey data. Afbf also regularly participates in compensation surveys to review benchmarked market data. Salary increases and compensation decisions are reviewed by human resources and aproved by the executive vice president (or president for the executive vice president's compensation) to ensure that employees are paid according to fair, equitable and uniform principles. The president's compensation is determined by the executive committee of the organization and is approved by the board of directors. Afbf conducts performance reviews semi-annually through an online system utilizing a standard template approved by the executive vice president. The salary increase budget each fiscal year is based on published market data and is subject to the approval of the executive vice president and president with the overall budget being approved by the afbf board of directors, typically at the october board meeting. Employees are notified of any increases in pay after the october board meeting. This process was last completed in march 2021.”

“The organization makes it governing documents, conflict of interest policy, and financial statements available to the public upon request for the same period of disclosure as set forth in section 6104(d).”

“Personnel services : program service expenses 508,835. Management and general expenses 139,746. Fundraising expenses 25,209. Total expenses 673,790. Educational services: program service expenses 983,032. Management and general expenses 0. Fundraising expenses 0. Total expenses 983,032.”

“ROUNDING -725.”