The Executive Leadership Council Inc.

“The board of the executive leadership council (elc) appoints eleven of the fourteen board members of the executive leadership foundation. The three remaining members consist of the president of the foundation, the immediate past chair of the foundation, and the current vice chair of elc.”

“The annual operating budget of the foundation is subject to joint approval by the board of the executive leadership council (elc) and the board of the executive leadership foundation, itself. Any amendment, restatement or repeal of the foundation's articles of incorporation or bylaws are first submitted to the board of elc for aproval. Following the approval of the board of elc, the board of the foundation votes whether to adopt the amendment, restatement or repeal”

“Upon completion of the return by outside tax preparers, the form 990 is first reviewed by management and is then submitted to the audit committee who has the delegated responsibility of reviewing the return prior to filing by the board of directors. After the audit committee reviews and is in agreement, the return is finalized and signed off by the outside tax preparers as well as the president & ceo of the foundation. Prior to filing, the full and complete form 990 is distributed to the entire board of directors.”

“Elf monitors its conflict of interest policy by requiring all new board members to identify any conflict that may arise with them serving on the board of directors of elf. They are required to sign a conflict of interest form. This process is repeated annually with new and continuing members.”

“The president and ceo, other officers, and key employees of the foundation are paid by a related party who establishes the compensation.”

“Governing documents, conflict of interest policy and financial statements are available to the public upon request.”

“To provide educational and economic opportunities, mentoring projects, and programs to identify, prepare and advance the next generation of black american managers and executives; to enrich the "pipeline" of future black american business leaders to optimize their productivity, growth and eventual contribution to the goals of corporate america through education, mentoring, early identification (programs that target high school students), community action, role modeling, and to engage in such other activities as may be desirable or required to accomplish the foregoing objects and purposes; to engage black american corporate officers with thoughtful initiative, direction, programs and education to address issues facing black americans in corporate america; and to encourage education regarding the economic empowerment of black america.”