Modest Needs Foundation

“Prior to filing, the organization's Form 990 and annual audit / review (as applicable) are 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 documents and to ask questions / receive clarifications if appropriate. The organization's Form 990 is finalized and filed only when it has been unanimously approved by the organization's directorship.”

“In addition to requiring all board members 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 conflict of interest that might arise with regard to said contract or purchase. Should a potential conflict arise / be identified, the relevant officer(s) or board member(s) is / are disqualified from considering the contract or purchase terms, and before any bid or proposal is accepted / major purchase made, it i vetted by the organization's external auditors to ensure that the acceptance of said bid or proposal / completion of said major purchase would not pose or create a conflict of interest. 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 potentially exist.”

“The board of directors sets that compensation of the president and any employee whose compensation may exceed $100,000.00 only after conducting a thorough review of all accessible comparative data, compensation reports such as those published by Guidestar and Charity Navigator, and other types of contemporaneous data that board members believe would help them to set a fair and reasonable rate of compensation for the organization's president and other key employees, including personal and (where applicable) organization performance. The salary of the president and other highly compensated officers / employees is then set each year by the board of directors using the methodology described above, and as they believe is in the best interests of the organization. With respect to all determinations concerning compensation, this methodology is employed annually by the organization's directorship and was employed in the current year as the board of directors set the salary of the organization's president and set / approved salaries of other of the organization's employees.”

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