Nrf Foundation

“The bylaws were amended in february 2020 to make the following changes: 1. Overlapping members: the national retail federation's chief executive officer and the chairman of the nrf foundation will serve as members of the national retail federation board of directors, the nrf finance committee, and the nrf foundation board of directors. 2. To reflect current practice, the nrf foundation's member (national retail federation) will continue to select the individual who serves as the nrf foundation chief executive officer. Dc law requires that nonprofit organizations have a chief executive; the title, however, is flexible.”

“Nrf's finance committee is a standing committee of the board of directors and is responsible for the financial and accounting matters of the federation and the foundation. As such, the finance committee has primary board responsibility for the review of the foundation's operating budget and audited financial statements. In its board authorized role, the finance committee also reviews the form 990 with the foundation's management. A complete copy of the 2020 form 990 was shared with the finance committee prior to its filing. The final return was signed by the foundation's tax advisor, rsm us llp, and the foundation's evp/coo and was filed on a timely basis.”

“Foundation employees adhere to the guidelines established by the national retail federation (nrf). Nrf periodically reviews its business ethics and employee conduct policy with staff. Board meetings of the nrf foundation are opened with either a written distribution of the nrf antitrust guidelines or a general reference to the fact that the nrf foundation does follow such guidelines and those attending the meeting are requested to adhere to them. The foundation's governing body also attests annually to the nrf conflict of interest policy adopted by the nrf foundation board. In the event a conflict is determined, the board member with the conflict is asked to recuse him or herself from voting on the matter under discussion.”

“The nrf foundation makes its governing documents available to the public upon written request.”

“Professional fees: program service expenses 762,156. Management and general expenses 48,750. Fundraising expenses 0. Total expenses 810,906.”