Nfib Young Entrepreneur Foundation

“Part vi, section b: policies, line 11 following an independent review of its financial statements, a draft of nfib young entrepreneur foundation's form 990 is prepared. This form 990 is reviewed internally by nfib's tax accountant, controller/treasurer, and president/cfo. Any questions arising from the initial review are addressed to ensure the return is complete and accurate. Any necessary changes/corrections are made on the form 990 and the return again goes through nfib young entrepreneur foundation's internal review process. Upon approval of the president/cfo, the return is reviewed by the chair of the finance/audit committee of the board of directors. The final return is then filed with the internal revenue service.”

“Part vi, section b: policies, line 12 every board member and officer of nfib young entrepreneur foundation is required to disclose any actual or potential conflicts of interest on an annual basis. Process of determining compensation for officers part vi, section b: policies, line 15 the executive committee of the board of directors of nfib recommends the compensation of all officers of the organization. All officers' compensation is then formally approved by the nfib board of directors. In october 2018, an outside compensation consulting firm was engaged to provide expert analyses regarding the reasonableness of the total compensation package for the executives of nfib and its affiliated organizations. The 2018-2019 results along with an irc 4958 opinion letter were provided to the chair of the executive committee of the board of directors. The committee relies on this independent review to ensure that reasonable compensation is paid to the officers. The committee's philosophy is to ensure that the compensation for these positions, relative to market comparisons, is competitive in order to attract, retain and motivate qualified employees while not being at the top of the range. The committee sets the compensation for the officers each year during their meeting which is typically held in february. Minutes from these annual meetings are taken by the corporate secretary during the meeting. When the minutes are reviewed and approved, they are retained with all other corporate records.”

“Part vi, section c: disclosure, line 19 it is nfib young entrepreneur foundation's ("the foundation") policy to make available for public inspection, upon request, either written or in person, its exemption application, supporting documents and any letter or document issued by the irs concerning the application. The foundation also makes available for public inspection and copying, upon request, either written or in person, its federal form 990, return of organization exempt from income tax. The form 990 is available for a three-year period beginning with the due date of the return (including any extension of time for filing). The foundation's conflict of interest policy is also available to the public upon request, either written or in person.”

“Form 990, Part XI, LINE 9 OTHER CHANGES IN NET ASSETS OR FUND BALANCES Rounding: -$1”

“At a meeting of the board of directors in february 2018, a resolution was adopted for the dissolution and termination of nfib young entrepreneur foundation. As part of this process, all program activities ceased.”