Mceachern Endowment Fund Inc.

“No review was or will be conducted.”

“The board of directors adopted a conflict-of-interest policy in September of 2019. The board members and Executive Director are subject to the policy. All members are required to disclose annually interests that are conflicting with the business of McEachern Endowment Fund, Inc. The Executive Director and the Treasurer are tasked with regularly monitoring each vote and to enforce the policy. If a conflict of Interest is disclosed, the member(s) must recuse themselves from all discussion and voting regarding the subject. Additionally, there is a financial spending policy limiting the amount that can be spent without two board signatures. Thus, the financial spending policy serves as an additional control to prevent anyone from acting underneath the guise of the conflict-of-interest policy. Discovery after non-disclosure can result in punishment up to termination for the Executive Director and removal for a Board member.”

“McEachern Endowment Fund, Inc. Utilized the 2016 National Council on Foundations: Grantmakers salary and benefits report: board compensation tables to set policy on compensation for board members and the employees of the endowment fund. The national council on foundations includes compatibility information for endowments of similar size and function. The board reviewed the comparability data and voted to set compensation at a reasonable level below the national average. All information was reviewed by a compensation committee including non-compensated member of the board and an outside forensic accounting professional reviewed the data.”

“No documents available to the public.”