Foundation for Financial Planning Inc.

“An initial review of the 990 will be conducted by the finance and investment committee with presentation to the board of trustees.”

“The foundation for financial planning (ffp) expects the loyalty of its trustees and employees, including management and non-management staff, in the performance of all functions. Therefore, trustees and employees must not engage in any conduct, and must avoid situations, that would create an actual or potential conflict of interest in performing duties or create the appearance of such a conflict. Conflicts of interest arise when a trustee or employees personal activity or personal interest is contrary to the interests of the organization. These personal activities or interests may influence the persons judgment, causing the person to make decisions on behalf of ffp based upon the potential for personal gain, rather than in the best interests of ffp. To prevent conflicts of interest, the following behavior is deemed unacceptable and unethical, except to the extent the law provides otherwise: receiving or giving of merchandise, money, services, travel, accommodations, or lavish entertainment that might appear to have been given to influence a business decision. Gifts offered or received at any time that are of more than minimal or token value shall not be accepted and shall be returned to the sender with an appropriate explanatory note or letter. Maintaining personal, business, or financial relationships with a vendor where the trustee or employee has control or influence over the ffps relationship with that vendor. For example, trustees and employees should not borrow from or lend personal funds to a vendor of ffp. Using information developed or learned in official board or employment capacity for personal or familial benefit. This includes the use of ffp databases, financial information, and intellectual property. Maintaining outside directorship, employment, or political office that might appear to or actually conflict or compete with responsibilities. Conducting ffp business with or using position or authority to influence the ffp to conduct business with family members. Unauthorized sharing of confidential information or proprietary ffp-related information with business associates or representatives of other organizations. The list above serves only to illustrate sources of possible conflicts of interest and does not constitute a complete list of all the situations that may result in a conflict of interest. Ultimately, it is the responsibility of each trustee and employee to avoid any situation that could affect his/her ability to judge situations independently and objectively on behalf of ffp, and any situation that could even appear to be a conflict of interest. It is important to note that under certain circumstances, conflicts of interest can amount to violations of criminal law. Process for employees each new ffp employee shall be required to review a copy of this policy and to acknowledge in writing that he or she has done so. All ffp employees are required to raise conflict of interest issues immediately as they arise with ffp management, or in the case of the ceo, with the board chair. Ffps management and executive committee will monitor and enforce compliance with this policy on an ongoing and consistent basis. Process for trustees each new ffp trustee shall be required to review a copy of this policy and to acknowledge in writing that he or she has done so. Each ffp trustee has a duty to disclose to the board of directors any potential conflict of interest that may arise during the course of their board service to ffp. Any such information regarding business interests of the trustee or (if applicable) his/her family member, initially shall be treated as confidential and shall generally be made available only to the chair and the ceo, except to the extent additional disclosure is necessary in connection with the implementation of this policy. The chair at his/her discretion may also involve members of the executive committee. If the chair identifies a real or likely conflict of interest, the below decision procedur”

“Policy for board approval of ceo compensation | august 2018 the chief executive officer of the foundation for financial planning (the nonprofit) is the principal representative of ffp, and the person responsible for the successful and efficient operation of the nonprofit. Therefore, it is the desire of the nonprofit to provide fair yet reasonable compensation for the ceo. The process for determining compensation is as follows: the nonprofit shall through its executive committee enter into a contract with the ceo that sets forth annual compensation and benefits for the term of the contract. The contract may specify (1) a base salary, (2) a benefits package, (3) an incentive payment range to be assessed yearly and (4) other terms and conditions of employment. During the contract term, the executive committee will annually evaluate the ceo on his/her performance, and ask for his/her input on matters of performance and compensation. The contract may contain provisions that allow for incentive (bonus) compensation, to be awarded at the discretion of the executive committee, based on the ceos performance against mutually-agreed upon goals each year of the contract term. Executive committee approval. The executive committee will obtain such research and information as it deems necessary to make a recommendation to the full board for the compensation (salary and benefits) of the ceo in any newly prepared contract based on a review of comparability data. For example, the executive committee may at its discretion secure data that documents compensation levels and benefits for similarly qualified individuals in comparable positions at similar organizations and in similar salary-comparable labor markets. This data may include the following: 1. Salary and benefit compensation studies by independent sources; 2. Written job offers for positions at similar organizations; 3. Documented telephone calls about similar positions at both nonprofit and for-profit organizations; and 4. Information obtained from the irs form 990 filings of similar organizations. Concurrent documentation. To approve the compensation for the ceo as outlined in the contract the executive committee should document how it reached its decisions, including the data on which it relied, in minutes of the meeting during which the compensation was approved. Documentation may include: a) a description of the compensation and benefits and the date the contract was approved; b) the members of the board who were present during the discussion about compensation and benefits; c) a description of the comparability data relied upon and how the data was obtained plus other factors taken into account; and d) any actions taken (such as abstaining from discussion and vote) with respect to consideration of the compensation by anyone who is otherwise a member of the committee but who had a conflict of interest with respect to the decision on the compensation and benefits. Independence in setting compensation: the chair of the board of directors, who is a volunteer and not compensated by the nonprofit, will operate independently without undue influence from the ceo. No member of the executive committee will be a staff member, the relative of a staff member, or have any relationship with staff that could present a conflict of interest.”

“UPON REQUEST.”

“The foundation for financial planning helps people take control of their financial lives by connecting the financial planning community with people in need. We achieve this by supporting pro bono advice and outreach activities.”