Derek Hughes Napslo Educational Foundation

“Wsia education foundation has a management agreement with the wholesale & specialty insurance association ('wsia'), a related non-profit organization (see schedule r). Wsia provides management services including financial management services, administrative services, board of director and committee support, database management and use, meeting and liaison services, web site management, publishing and communications, and other services. Brady kelley, executive director, is compensated by wsia (see part vii) and allocates a portion of his time throughout the year to support the foundation.”

“The board of directors reviews form 990 and required supplemental schedules for completeness and accuracy and approves the form for submission during a board meeting prior to filing.”

“The wsia education foundation (the foundation) and its board of directors have a "conflict of interest" policy that requires each director and officer of the foundation to act such that he or she does not derive any personal profit or gain, directly or indirectly, by reason of his or her participation in the leadership of the foundation, and to always act in the best interest of the foundation. The policy also requires that each director and officer of the foundation disclose all actual and potential conflicts of interest as they occur. On an annual basis, each director shall be required to complete and sign a conflict-of-interest disclosure statement. In addition, any foundation director or officer upon recognizing he or she has a conflict or potential conflict of interest shall promptly disclose the conflict or potential conflict to the board. Each foundation director or officer has a continuing responsibility to scrutinize his or her outside business, industry and personal interests and activities for potential conflicts and to promptly disclose them. This disclosure policy is to be construed broadly, rather than narrowly, and any doubts as to the application of this policy should be resolved in favor of disclosure. All completed disclosure forms shall be provided to and reviewed by the foundation board. The disclosure forms and any other material related to a director's or officer's conflict of interest disclosures shall be maintained at the foundation's headquarters office.”

“Foundation activities are conducted by employees of wsia. Wsia uses a written employment agreement specifying executive director compensation. An independent compensation consultant, form 990 of other organizations, and a compensation survey is used to determine reasonable compensation. The compensation committee reviews and approves the agreement on a periodic basis. The latest compensation study was conducted by an independent consulting firm in 2020; however, the benchmarking data within that survey is updated by the compensation committee annually.”

“The organization makes its governing documents and audited financial statements available to the general public upon request. In addition, the annual report, including financial information, is available on the organization's website.”