Baton Rouge Area Foundation

“William f. Tate iv, phd and todd s. Manuel have a business relationship.”

“The foundation has one class of members. Anyone who gives a minimum donation of $100 to braf can be a member.”

“Braf has one class of members. At the annual meeting, each member present is allowed to vote during the election of the board of directors for the next year.”

“After completion of irs form 990, draft copies are provided to the entire board of directors and the treasurer of the foundation. The treasurer reviews the draft form 990 with the entire board. Any necessary changes are made on the form. Once all necessary changes are made and the treasurer is in agreement with the entire board as to the veracity of the information presented in the form, it will be recommended for approval. Upon approval by the board of directors, the form will be signed by the president and ceo (or other appropriate representative of the foundation), dated and submitted to the irs by the filing deadline.”

“Directors are required to complete a disclosure statement annually. The disclosure obligation is continuing and directors are required to update their respective disclosure if a conflict or the appearance of a conflict arises prior to the next reporting period. Disclosures (and subsequent disclosures) are initially reviewed by braf's general counsel; if potential conflicts are present, he or she shall leave the board or committee meeting while the determination of a conflict of interest is discussed and voted upon.”

“Ceo - the foundation's board chair prepares and distributes a ceo survey to all of the current board members. The chair collects the completed surveys and prepares an anonymous summary of the results. The independent compensation committee reviews the results and uses their knowledge of comparable data from community foundation peers and standards from similar positions within the baton rouge community to determine the ceo salary for the next year. The compensation committee makes a recommendation to the board for the ceo's salary. The board approves the ceo's salary. Key employees - the ceo sets the salaries of the officers of the foundation. He uses comparable data from similarly situated community foundations within the united states, the salary benefit report prepared annually by the council on foundations, and the salary results from a survey of large community foundations to determine the officer's salary for the next year. The independent compensation committee then approves the salaries for key employees.”

“The governing documents and the financial statements are posted on the foundation's website. If someone does not have access to the internet, we would provide a copy to them. The conflict of interest policy is available upon request.”

“Section 1.263(a)-1(f) - de minimis safe harbor election baton rouge area foundation hereby makes the de minimis safe harbor election under section 1.263(a)-1(f) of the treasury regulations, effective only for the tax year ending december 31, 2024. Taxpayer has an applicable financial statement for the year of the election. This election permits the taxpayer to deduct for tax purposes any item deducted under its book policy that does not exceed $5,000 per invoice (or per item, as substantiated by the invoice) or items having an economic useful life of twelve months or less as described in section 1.263(a)-1(f)(1)(i). Section 1.263(a)-3(n) election - book conformity election baton rouge area foundation is making the election under treas. Reg. 1.263(a)-3(n) to capitalize those repair and maintenance costs that it treats as capital improvements on its books and records for the tax year ended december 31, 2024.”