The Michigan Womens Foundation

“Per bylaws, board of trustees may delegate its power and duties to manage, direct and control the operational affairs of the corporation to the executive committee. Membership is chair of the board and 5 or more trustees. Actions not within the scope of the executive committee include: adopt an agreement of merger or consolidation, amend articles or bylaws, fix the compensation of any person, sell/lease/exchange/dispose of property, take any action contrary to a decision reflected by a majority vote of the full board, dissolve the corporations, fill vacancies on the board.”

“Once in final draft, the form 990 is provided to the finance committee for review. Any feedback/comments are incorporated into the form 990 and it is then provided to the full board for review. Any changes based on board review are provided to the audit firm for final revisions to the form 990. Form 990 is then signed by the president and ceo and submitted to the irs.”

“Annually, the board members are provided with a conflict of interest form to be completed and signed. The office administrator collects all forms and verifies they are all completed and on file. Any conflicts noted on the forms are brought to the president & ceo's attention. If a conflict of interest arises, a trustee with said conflict of interest shall not participate in the matter.”

“The executive committee of the board determines the compensation of the foundation's ceo. This decision was made prior to her offer of the position. During her employment, an annual performance review is conducted by the executive committee and compensation is re-evaluated at that time. Any changes are deliberated upon by the committee and then presented to the full board. Ms cassin's contract through 12/31/2025 was extended by the full board until 12/31/2026.”

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

“Professional fees: program service expenses 95,050. Management and general expenses 23,507. Fundraising expenses 16,382. Total expenses 134,939. Fiduciary expense: program service expenses 569,660. Management and general expenses 0. Fundraising expenses 0. Total expenses 569,660.”

“The organization has a committee that assumes responsibility for oversight of the audit and selection of an independent accountant. This process has not changed from the prior year.”