San Angelo Area Foundation

“Saaf's governing body has established a financial committee and an audit committee to review form 990, prior to its annual filing. Each year, form 990 is distributed electronically to all members of these committees for review. Any comments or questions are handled through the ceo's office in concert with the foundation's auditor. Once all parties agree with the accuracy of the form 990, then the president & ceo of saaf signs and files said form 990.”

“Saaf requires board members to review and sign the approved conflict of interest policy acceptance statement and disclose annually any potential conflicts of interest. This process is completed at the first board meeting of the calendar year. Saaf executive committee and ceo review these statements, investigate and disclose any potential issues and are subsequently addressed by the board, if needed.”

“Saaf annually participates in the council on foundation's compensation survey and is able to ascertain comparable data on a national and regional basis as well as asset size, to determine appropriate salary ranges for its ceo as well as other employees of the organization to allow it the ability to attract and retain quality staff. The saaf board of director's executive committee annually performs a performance review of the president & ceo. This review is completed by each member of the committee (five persons) and in turn the board chairman compiles the reviews into one master review. This review is then distributed to the entire board of directors for further comment. The board of directors then reviews this report with the president & ceo, recognizing accomplishments, area to excel and establish future goals. The board of directors uses the aforementioned salary survey as well as its own knowledge of similar professional positions in the community, along with its performance review, to establish the compensation package for the ceo. The ceo annually reviews the staff of saaf and also uses this same council on foundation's survey data for recommending compensation for the remainder of saaf staff and makes said recommendation annually to the board of directors for their consideration of any compensation changes for other staff of saaf.”

“Saaf makes available, upon request, its governing documents, conflicts of interest policy, its audited financial statements and filed form 990, to the public. The public may request this information via the saaf website, or by phone or in writing.”

“Revenue(loss) for agency endowment funds per sfas #136 -8,919,290. Grants & expenses made from agency endowment funds per sfas #136 1,014,126. Change in value of split interest agreement 1,796,967.”

“The policy to have a committee to oversee the audit of the financial statements and selection of independent accountants has not changed from the prior year. That committee was in place in prior years also.”

“15 board members and 30 grant application committee members and 20 additional volunteers.”