Historic Charleston Foundation

“Two board members have a business relationship.”

“Following the acceptance of the final audit report, the independent auditors prepare the 990, using information provided by the director of finance, president/ceo and other members of the management team. The draft of the 990 is submitted to the director of finance and president/ceo who review all of the documents for accuracy and tie the numbers back to the audited financial statements. Once the draft has been reviewed, the 990 is sent to all voting members of the board of trustees by mail or email, requesting members review thoroughly and contact the director of finance with any questions. The 990 is submitted to the finance committee for final review for approval before submitting to the irs, generally in the 7th month of the year.”

“Members of the board routinely recuse themselves from discussions and/or voting on issues where they may have a conflict of interest either because they are directly involved with an issue or their company may be involved with an issue. The chair and the chairs of the board committees will ask any member who may have a conflict of interest to recuse themselves from discussions and/or voting on those issues.”

“The executive committee in executive sessions reviews the compensation of the president/ceo taking into account comparable salaries within a variety of sectors in charleston and the budget limitations approved for the upcoming year by the board of trustees. The president/ceo reviews the compensation of other employees taking into account comparable salaries within a variety of sectors in charleston and the budget limitations approved for the upcoming year by the board of trustees.”

“All information is available upon request.”

“Grant expenditures: program service expenses 95,992. Management and general expenses 0. Fundraising expenses 0. Total expenses 95,992. Enhancement: program service expenses 61,115. Management and general expenses 0. Fundraising expenses 0. Total expenses 61,115. Repairs & maintenance: program service expenses 40,165. Management and general expenses 3,316. Fundraising expenses 2,913. Total expenses 46,394. Printing: program service expenses 41,155. Management and general expenses 701. Fundraising expenses 4,354. Total expenses 46,210. Telephone: program service expenses 35,640. Management and general expenses 5,425. Fundraising expenses 4,238. Total expenses 45,303. Shipping fees: program service expenses 29,351. Management and general expenses 0. Fundraising expenses 0. Total expenses 29,351. Training-staff/trustees: program service expenses 21,027. Management and general expenses 1,403. Fundraising expenses 164. Total expenses 22,594. Packing/supplies: program service expenses 21,712. Management and general expenses 0. Fundraising expenses 0. Total expenses 21,712. Postage: program service expenses 18,053. Management and general expenses 1,827. Fundraising expenses 1,331. Total expenses 21,211. Payroll processing fee: program service expenses 0. Management and general expenses 16,391. Fundraising expenses 0. Total expenses 16,391. Maintenance of collection: program service expenses 16,035. Management and general expenses 0. Fundraising expenses 0. Total expenses 16,035. Promotion/brochures/design: program service expenses 11,421. Management and general expenses 0. Fundraising expenses 3,619. Total expenses 15,040. Seminar programs: program service expenses 15,035. Management and general expenses 0. Fundraising expenses 0. Total expenses 15,035. Supplies - household: program service expenses 10,566. Management and general expenses 909. Fundraising expenses 703. Total expenses 12,178. Royalties: program service expenses 10,943. Management and general expenses 0. Fundraising expenses 0. Total expenses 10,943. Dues & subscriptions: program service expenses 6,591. Management and general expenses 3,136. Fundraising expenses 1,029. Total expenses 10,756. Entertainment: program service expenses 2,807. Management and general expenses 7,429. Fundraising expenses 462. Total expenses 10,698. Grounds maintenance: program service expenses 6,182. Management and general expenses 2,562. Fundraising expenses 0. Total expenses 8,744. Intern program: program service expenses 8,718. Management and general expenses 0. Fundraising expenses 0. Total expenses 8,718. Interpretive program: program service expenses 8,425. Management and general expenses 0. Fundraising expenses 0. Total expenses 8,425. Alarm & security: program service expenses 6,519. Management and general expenses 789. Fundraising expenses 62. Total expenses 7,370. Photo: program service expenses 6,710. Management and general expenses 0. Fundraising expenses 350. Total expenses 7,060. Tour supplies: program service expenses 4,903. Management and general expenses 0. Fundraising expenses 0. Total expenses 4,903. Taxes: program service expenses 4,878. Management and general expenses 0. Fundraising expenses 0. Total expenses 4,878. Bank charges: program service expenses 4,470. Management and general expenses 93. Fundraising expenses 0. Total expenses 4,563. Parking: program service expenses 4,320. Management and general expenses 15. Fundraising expenses 0. Total expenses 4,335. Coordinators: program service expenses 3,035. Management and general expenses 0. Fundraising expenses 0. Total expenses 3,035. Incentive supplies: program service expenses 0. Management and general expenses 0. Fundraising expenses 2,895. Total expenses 2,895. Auto expense: program service expenses 758. Management and general expenses 183. Fundraising expenses 64. Total expenses 1,005. Special tours: program service expenses 216. Management and general expenses 0. Fundraising expenses 575. Total expenses 791. Archive”

“The finance committee acts as both the finance committee and audit committee to interview prospective audit firms to conduct the annual independent audit of the organization through a proposal process, making recommendations for hiring to the board of trustees.”