Kentucky Farm Bureau Education Foundation Inc.

“Acting voting members: to be eligible to be an acting voting member a person must be a duly elected acting member of the board of directors of the kentucky farm bureau federation. If a person ceases to be a member of the board of directors of the kentucky farm bureau federation, such person's membership in this corporation is terminated at the next annual meeting. Non voting membership: non voting associate memberships & honorary memberships may be extended by a majority vote of the board of directors.”

“Board of directors are elected by acting voting members at each annual meeting of the members and shall be selected from the eligible district elected directors from each federation district of the board of directors of kentucky farm bureau federation and may also include the immediate past president when seated by the voting delegates. All vacancies in the board shall be filled by the remaining directors. Any director may be removed, with or without cause, by a majority vote of the members constituting a quorum at any special meeting called for that purpose. The business affairs of the company shall be managed by the board of directors, but may be delegated, subject to state statute restrictions, to an executive committee consisting of the president, first vice president & second vice president of the organization”

“Form 990 and supporting documents are reviewed by the executive officer and kentucky farm bureau federation's director of finance & accounting prior to filing and are available to all directors upon request”

“Annual conflict questionairre is reviewed by the executive officer & the executive committee. Any issues brought to their attention are resolved in accordance with the bylaws.”

“Executive officer's annual compensation which is paid by a related parent company is determined by the board of directors of that company while meeting in executive session based on their deliberation and knowledge of the value to the organization and comparable businesses. He receives no compensation from the education foundation.”

“Compensation for other officers and directors services are paid by a related parent or sister company and determined by its directors in accordance with the by-laws of the related parent & sister companies. Services for the education foundation are performed by volunteers without compensation.”

“Only the required public disclosure documents are made available to the public, upon request. Confidential documents are not provided.”

“Average hours for related companies providing compensation: executive officer is employed full time more than 40 hours per week by the related parent organization and compensated by that organization. Other officers are compensated by a sister company on a per diem basis and average 15-20 hours per week for the sister & parent companies. Other directors are also compensated by the sister company on a per diem basis and average 2 hours per week.”

“Scholarship selection committee, directors & officers serve without direct compensation”