Modest Needs Foundation

“Prior to filing, the organization's Form 990 / annual audit / review (as applicable) as distributed to all board members. The Board of Directors then meets with the organization's external auditors to review the Form 990, audit / review and all related document to ask questions / receive clarifications as necessary and appropriate. The organization's Form 990 is finalized and filed only after it has been unanimously approved by the organization's Board of Directors.”

“In addition to requiring all board members and officers to complete an annual questionnaire via which they must disclose any potential conflicts of interest, prior to the acceptance of any bid on any contract or the completion of any major purchase, all board members and officers of the organization are required to divulge any conflicts of interest that might arise with regard to said contract or purchase. Should any potential conflicts arise, the relevant officer(s) or board member(s) is / are disqualified from considering the contract or purchase terms or contract under review. Further, before any bid or proposal is accepted / major purchase is made, it is vetted by the organization's external auditors to ensure the acceptance of said bid or proposal / completion of said major purchase would be unlikely to result in either a bona-fide conflict of interest or the appearance of impropriety. As a matter of policy, the organization does not accept bids or proposals or commit to major purchases where it is determined that a conflict of interest might actually or appear to exist.”

“The Board of Directors sets the compensation of the organization's president and any employee whose compensation may exceed $100k only after conducting a through review of the longevity and performance of the employee in question; relevant comparative data & compensation reports; and other relevant types of contemporaneous data that board members believe would help them to set a fair, reasonable and competitive rate of compensation for the organization's president and other key employees. The salary of the president and any other highly compensated offers / employees is then set by the Board of Directors using the methodology described above.”

“The organization provides access to its Form 1023, governing documents, financial statements, tax filings and conflict of interest / whistleblower / similar policies via its website; the websites operated by organizations such as Guidestar and Charity Navigator; and US Mail upon request.”