Main Street Foundation

“Christopher williston vi, chris williston, julie courtney and ursula jimenez - business relationship (employees of ibat).”

“The board of directors has appointed an ad hoc committee who will conduct a formal review of the tax return with the cpa who prepared the return. A copy of the return will be provided to the board members before filing the tax return.”

“Each board member is required to complete, sign and return a disclosure policy at the beginning of every year. Periodic reminders occur at board meetings.”

“The former president of main street foundation (msf) is a shared employee with the independent bankers association of texas (ibat). Her salary was reviewed by the msf board, but she was hired by the ceo of ibat. The current president of msf is the ceo of ibat. The ceo of ibat's compensation is determined by the budget, audit and compensation committee of ibat. The process for determining compensation of the ibat ceo includes a written employment contract, compensation study, approval by the budget, audit and compensation committee and then finally by the executive committee and/or the board of directors of ibat. Compensation for key employees and officers is determined by the ceo of ibat and reviewed by the budget, audit and compensation committee of ibat. The ibat organization participates in an association salary survey that compares position to the respective salary.”

“Upon written or oral request, copies will be provided in a timely manner and a resonable charge may be made. Any other requests for foundation records should be in writing and referred to the president.”

“Main street foundation has shared employees with independent bankers association of texas. Total compensation to employees is reported on independent bankers association of texas' w-2s. Lines 5 & 7 represent allocated payroll costs to main street foundation.”