Nfib Young Entrepreneur Foundation

“Part vi, section b: policies, line 11 following an independent audit 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 svp/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 svp/cfo, the return is reviewed by the chair of the 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, officer, and key employee 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 and other key employees part vi, section b: policies, line 15 the executive committee of the board of directors of nfib is responsible for recommending compensation for the ceo, cfo, secretary, and svp of the organization. Their compensation is then formally approved by the nfib board of directors. The treasurer's compensation is reviewed and set by the ceo. In october 2015, an outside compensation consulting firm was engaged to provide expert analyses regarding the reasonableness of the 2016 total compensation package for the executives of nfib and its affiliated organizations. The committee relies on this independent review to ensure that reasonable compensation is paid to the ceo, cfo, secretary, and svp. 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 ceo, cfo, secretary, and svp 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.”

“Description:scholarship program admin total fees:60500”

“Description:charity registration service total fees:4000”

“Description:other expenses total fees:1102”