Heifer International Foundation

“Heifer foundation approved bylaw changes in may 2017. The changes are summarized below: expanded the trustee term of service from two terms of three years to three terms of three years changed the overlapping board structure with heifer project international from requiring heifer project international chair and vice chair to serve on the heifer international foundation board to requiring heifer project international chair or vice chair to serve on the heifer international foundation board and allowing heifer project international board to select a non-voting liaison to the heifer international foundation board established three standing committees: investment, nominating and audit. These committees were in place, but not specified as standing committee in the previous bylaws. Allow president to decline funding, with report to board at next meeting. Previously, only board was allowed to decline funding. Added failure to comply with governance policies and failure to attend two consecutive board meetings without advance notice and good reason as grounds for removal of trustees administrative changes included: allowing meeting notice to board via mail, email, fax or overnight delivery; allowing telephonic meetings of board, clarification of action by board without meeting, clarified conflict of interest procedures and indemnification of board members and officers”

“The filing organization was formed primarily to support the efforts of heifer project international, a separate irc section 501(c)(3) public charity. The filing organization's board of trustees consists of 9 members. The bylaws currently provide that overlapping board structure with heifer project international chair or vice chair to serving on the heifer international foundation board and allowing heifer project international board to select a non-voting liaison to the heifer international foundation board. The remaining 7 members are selected by the filing organization's board of trustees.”

“Heifer international foundation distributes a draft copy of the form 990 to a committee of trustees for review prior to filing. After review by the committee, the form 990 is then distributed to the full board of trustees prior to filing.”

“Heifer international foundation's board of trustees operates within a policy governance model with effective written governance and monitoring systems in place regarding the board of trustee's code of conduct, which includes specific conflict of interest statements. Each member of the board of trustees is required to complete, sign and submit a code of conduct form annually in which they indicate compliance with specific conflict of interest statements. These forms are submitted to the board liaison, at the annual meeting of the board of trustees and issues of non-compliance are reported to the board chair. In addition, a report to the full board is included in the monitoring reports regarding compliance by individual trustees and the board as a whole. Matters of concern regarding an individuals non-compliance and/or conflict of interest are addressed by the board chair and brought before the full board when appropriate.”

“Heifer international foundation uses quatt associates, an independent consulting service, for the review of the foundation's salary process. Quatt associates evaluates each position, including the president, based on the specific job functions and a market analysis of the position. This market analysis is conducted using surveys of relevant comparator organizations. Depending on the position and its requirements, positions are compared either internationally, nationally or regionally to ensure compensation is competitive for the job market for each position. Ranges are then established by position with a minimum, a target and a maximum. The target of the range is based on the median salary for equivalent job descriptions in the market place and factors in the employees skill level and history with the organization. The board conducts an annual review of the president's performance over the prior year. Based on the performance and the salary recommendations obtained from quatt, the board then determines what the salary of the president should be for the next year. The board is also given a copy of the quatt recommended salary ranges for each staff member of heifer international foundation and their budgeted salary.”

“The annual report is available at www.heiferfoundation.org starting with year 2001. Irs form 990 and audited financial statements are available at www.heiferfoundation.org starting with year 2011. Irs form 990, annual report, audited financial statements and other governance information is available upon request either in person, per phone call to 888-422-1161, email request at [email protected], or by written request.”

“In part vii, form 990 gwen morgan, norman doll and doug nunn served on the board of trustees until october, 2016. They were not serving on the board of directors as of the fiscal year end of 06/30/2017.”

“Change in value of split interest obligations -646,984.”

“Heifer international foundation has maintained the same processes from previous years in relation to the oversight of the audit of the financial statements by an independent accountant.”