The Sasb Foundation Prev Sustainability Actg Standards Board

“In accordance with common practice in the nonprofit community, the Board delegates certain matters to various Committees, which is empowered to act between board meetings if necessary, and sometimes with specifically delegated authority to act in particular areas on behalf of the full board. The composition of the various committees includes certain members of the organization's board.”

“business relationship: Two of the Directors are employees of another Director.”

“Form 990 is prepared by an outside tax professional. The form is then reviewed bythe organization's management, a member of the board of directors, and the operations director. This group of individuals then discusses the contents of the return with the outside tax professional. After a full review (with modifications where necessary), the final version of the tax return is provided to all members of the organization's voting body. A representative of management authorizes the final form 990 which is then e-filed with the internal revenue service.”

“Members of the board of directors review all potential conflicts of interest atleast annually. All personnel and board members are required to disclose (inwriting) potential conflicts and any related party affiliations. Loans between theorganization and members of management and the board are strictly prohibited. Theorganization seeks full transparency on all relationships. Any potential conflicts (in fact or appearance) are discussed openly and resolved in accordance with the organization's policies and procedures.”

“Members of the board of directors review the compensation of all high-level personnel annually in accordance with irs rules and regulations. Efforts are made to secure compensation data from industry sources in order to determine competitiveness and appropriateness of salaries. Every effort is made to ensure that the process is thorough and transparent in accordance with irs guidelines and the organization's policies and procedures.”

“Compensation of other high-level personnel and key employees is reviewed at least annually by members of management. Efforts are made to secure compensation data from industry sources in order to determine competitiveness and appropriateness of salaries and all related benefits. All decisions are then documented in personnel files.”

“All of the organization's governing documents, financial statements and other legalfilings are maintained in a secure environment and held available for inspection bytax authorities and the general public. Tax returns are posted annually towww.guidestar.org (where it is available for viewing as an electronic copy) and are also available at the organization's office in san francisco, california (for a physical inspection).”