Westminster Canterbury on Chesapeake Bay

“The form 990 is reviewed by management and a copy of the return, subsequent to that review, is provided to the board of trustees prior to filing.”

“Individuals who serve on the board of directors are asked to read our conflict of interest policy and complete a conflict of interest questionnaire annually. If any potential conflicts are disclosed in the annual questionnaire, the situation is reviewed with the president and the chair of the board. If necessary, board members recuse themselves from voting if there is a possibility of a conflict of interest.”

“The policy of the organization is to set compensation at market pay for all employees who are fully competent in their positions. Market pay is determined by independent, outside experts. Additionally, a substantial portion of the president and ceo's compensation is at-risk pay linked to specific goals and results. Additionally, the board provides a supplemental executive retirement plan (serp) for the ceo to encourage retention. To determine compensation for the president and ceo, the board's executive committee, acting as a personnel committee, engages an independent consultant who specializes in executive compensation. The independent consultant provides the executive committee compensation data representing comparable positions in organizations of similar industries with similar revenue and budget size. The executive committee uses this information and the recommendations of the independent consultant as a basis for setting compensation. The process described here was last completed in 2024.”

“The audited financial statements are made available to the public upon request and within the community's library.”

“The return has been amended to update schedule j, part iii to reflect terms related to a retention bonus.”

“The organization has not changed its oversight or selection process from the prior year.”