Acton Institute for the Study of Religion and Liberty

“The corporation is organized on a membership basis. There are two classes of members: full members and associate members. Only full members are entitled to vote. The full members elect one or more members of the governing body, the Board of Directors. The original members were appointed in the founding documents of incorporation. New members may be added by a two-thirds vote of the full members. The Board of Directors, by unanimous action, may terminate the membership of any member who fails to comply with the bylaws or regulations.”

“Members have the ability to elect or appoint one or more members of the organization's governing body, the Board of Directors. The bylaws grant members the power to fill vacancies or remove existing directors by a majority vote.”

“The Form 990 is prepared by an independent CPA firm. It is reviewed in detail by the Director of Finance. A draft copy of the Form 990 is electronically provided to the members of the Board of Directors for review prior to filing. In addition, a copy of the Form 990 draft will be available in a secured part of the website.”

“Officers and board members sign annual conflict of interest statements which are reviewed by in-house counsel. Should any potential conflicts of interest be disclosed, the board member or officer would be asked to refrain from participation in any decision with regard to matters affected by the relationship.”

“The Board investigates and determines the compensation package for the President and Executive Director. The Executive Director and Human Resources determine the compensation for all other officers. The process includes comparison to similar organizations and salary surveys as well as analysis of responsibilities and performance. The approval process is documented in the minutes.”

“The organization's governing documents, conflict of interest policy, and financial statements are made available upon request.”

“Contracted services: Program service expenses 1,372,483. Management and general expenses 9,676. Fundraising expenses 38,185. Total expenses 1,420,344. Honorariums: Program service expenses 340,932. Management and general expenses 0. Fundraising expenses 0. Total expenses 340,932. Other fees: Program service expenses 3,269. Management and general expenses 3,448. Fundraising expenses 0. Total expenses 6,717.”

“Book to tax difference for UBTI reported on Schedule K-1 -117,571. Losses for uncollectible promises to give -300,000.”

“The organization's Board 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.”