The American Chestnut Foundation

“The executive committee consists of the officers. A quorum of the executive committee is a simple majority of its members. The committee has and may exercise all powers of the board of directors in the day-to-day management of the business and affairs of the foundation, except that it may not: (1) hire or fire employees of the foundation, (2) remove any officer or any elected director, or fill any vacancy on the board of directors, (3) amend or suspend the bylaws, or (4) amend or repeal any resolution or vote of the board. The committee provides a report of its interim actions back to the full board at each subsequent meeting. Any action item requiring board approval is presented according to guidelines of the organization's bylaws.”

“Per article ii, sec 1 of the foundation's bylaws: for any purpose for which a corporate membership may be required, the members of the board of directors of the foundation from time to time shall be deemed to be the members of the foundation, and the meetings of, resolutions enacted by, and actions taken by the board of directors of this foundation shall in every respect be deemed to constitute the meetings of, resolutions enacted by, and actions taken by the members of the foundation.”

“The return was prepared by an independent accountant with assistance and oversight by management. Upon completion and review, the return was provided to each voting board member at a scheduled meeting prior to submission to the irs.”

“The foundation has a conflict of interest policy posted on the board of directors' website detailing its purpose, compliance, and other matters. All directors must sign this policy and any issues are brought to attention when relevant at board and committee meetings. The policy is reviewed at least annually.”

“The board of directors uses a number of methods to determine compensation for the top executive officer, including use of an independent compensation consultant, comparison to the form 990 of similar organizations, written employment contracts, and final approval by the board or an authorized subcommittee of the board. Compensation for the executive director was last reviewed in january 2020.”

“Various outside sources, including but not limited to consultants and other form 990 filings, are used to determine appropriate compensation”

“Pennsylvania, rhode island, south carolina, tennessee, virginia, vermont, west virginia”

“The organization's financial statements, conflict of interest policy, bylaws, and certain other policy documents are available upon request at the organization's administrative offices in asheville, nc. In addition, these documents are available on the organization's website and are made available to the board of directors through electronic communication.”