Boy Scout Trust Fund for the Central Fl Council Boy Scouts of America Inc

“Kurt hall and peggy hall - family relationship jeffrey jennings and john jennings - family relationship john jennings and michael jennings - family relationship len williams and thomas williams - family relationship”

“The board of directors of central florida council boy scouts of america inc. (the council), having established and created the boy scout trust fund for the central florida council (the fund), shall be its governing body. The board of directors of the council is elected by its active membership pursuant to the organization's governing documents. The council has the power to appoint and discharge the fund's institutional trustee as it deems appropriate and, subject to the provision of the charter, bylaws, and rules and regulations of the boy scouts of america, gives broad powers to the trustee, as enumerated in the agreement of trust, to administer the fund.”

“The active membership of the central florida council boy scouts of america, inc. Has the authority to elect the board of directors and officers, other than the scout executive who is appointed by the board of directors.”

“Prior to filing each year, the trust fund's audit committee performs a thorough review of a preliminary draft of the fund's form 990 where it will recommend changes and/or corrections, if any, to the return preparer. When the changes have been incorporated in the return, the audit committee will recommend that it is presented to the entire board of directors for review. At that time, a complete copy of the trust fund's form 990 and schedule is emailed to each director, where he or she is invited to review the return.”

“The fund follows the policy of the council which is to, at least once a year, distribute a conflict of interest certification and disclosure form to its officers, directors, trustees, and professional employees. The covered persons are required to complete and sign the certification and disclosure form, which is retained in the council files. The certification and disclosure forms are reviewed no less than annually by the scout executive and treasurer. Additionally, the council compiles and maintains a list of potentially conflicted entities and individuals. Proposed transactions are then matched against the list as a means of identifying possible conflicts. The scout executive is ultimately responsible for maintaining the list and screening for possible conflicts of interest.”

“The chairman of central florida council boy scouts of america, inc. (the council), a related 501(c)(3) organization, appoints an independent compensation and benefits committee whose responsibilities are to review the performance of the scout executive and to establish a compensation package for him or her subject to approval by the executive board. The compensation of the scout executive is reviewed and approved using data as to comparable compensation for similarly qualified persons in functionally comparable positions at similarly situated organizations. There is contemporaneous documentation and record keeping with respect to the deliberations and decisions regarding the compensation arrangement. Form 990, part vi, line 15b - compensation review and approval process - officers & key employees each year, the council chairman appoints an independent compensation and benefits committee whose responsibility is to establish a compensation package for officers other than the scout executive and key employees based on performance reviews conducted by the scout executive using data as to comparable compensation for similarly situated organizations. There is contemporaneous documentation and record keeping with respect to the deliberations and decisions regarding the compensation arrangement. Additionally, during the annual budgeting process, the executive board reviews the reasonableness of the fees charged by the trustee based on the investment policy approved by the executive board to set a realistic target for income, and a benchmark and time line for comparison, to hold the trustee accountable.”

“The fund's policy regarding disclosure of governing documents, policies, and financial statements follows that of boy scouts of america, inc. Central florida council, which is that if the governing documents and policies of the council are subject to the federal public disclosure rules (or state public disclosure rules), these documents will be made publicly available as applicable law may require. Otherwise, the governing documents and policies will be provided to the public at the discretion of management.”

“Net asset transfer to tax-exempt affiliate -700,000.”

“The organization's audit oversight committee is responsible for the selection, monitoring and evaluation of an independent audit firm and oversight of the audit of its financial statements. There was no change in this process from prior year.”