Lucile Packard Foundation for Childrens Health

“The executive committee has the authority to transact all regular business of the board between board meetings with the exception of certain specific powers which include appointing, removing, or amending terms of employment or engagement of officers, agents, and key employees of the foundation; changing the location of the principal office of the foundation or otherwise effecting changes to the primary location for the board meetings or operations; adopting and using a corporate seal and/or altering the form of the seal; and borrowing money or incurring indebtedness. The executive committee is composed of the chairman of the board, the president/ceo of the foundation, and the chairs of all other standing committees. All members of the executive committee are members of the board.”

“David orr and susan orr have a family relationship. Christopher dawes, david alexander, j taylor crandal, lloyd minor, susan orr, and mindy rogers have a business relationship.”

“Revisions to the by laws were approved by the board at its meeting in november 2014. Revisions included updates to be more consistent with best practices under california law. In addition, a provision was added to create "advisory committees" which do not have the power and authority of the board, and which permit non directors to serve as voting members. Finally, the revised bylaws clarify the term of the board chair as being for one year with the option to serve two additional one year terms and one year as past chair.”

“The foundation's audit committee is primarily responsible for reviewing and approving the foundation's form 990 before it is filed with the irs. The final draft of the form 990 is distributed to the full board in advance of the audit committee meeting at which the form will be reviewed and approved. The audit committee reviews the form 990 and approves it for filing. All members of the board are invited to attend the audit committee meeting.”

“Directors, officers, and key employees ("key persons") are required to review the conflict of interest policy on an annual basis and to disclose all real and potential conflicts of interest. Key persons are required to confirm that they have reviewed the policy by signing that they have done so, even if no conflicts are disclosed. In addition, key persons are required to disclose real or apparent conflicts at the time when such conflicts arise during discussions of the board, board committees, or staff. Key persons with conflicts are required to recuse themselves from related discussions and decisions. The foundation's cfo and ceo are responsible for ensuring compliance with the conflict of interest policy.”

“The foundation has a compensation committee comprised entirely of independent directors, none of whom have a conflict of interest with the ceo, cfo or any of the key employees. The compensation committee establishes the compensation philosophy for the organization and meets annually to set the salary for the ceo and cfo and review and approve salaries for key employees. The committee has engaged a third party independent compensation consultant to attend its annual meeting the last of which was held on november 18, 2014. In determining compensation levels, the committee uses two independent third party salary surveys, one published by woodmark and one published by lasnik broida. Key deliberations of the compensation committee are documented in meeting minutes which are approved at the next committee meeting.”

“While federal tax laws do not mandate that the organization's governing documents, conflict of interest policy and financial statements be made available for public inspection, the organization makes its governing documents and audited financial statements available upon request.”

“Volunteers include the foundation's board of directors as well as volunteers who support various foundation fundraising events.”

“Sale of donated securities 167,085.”

“The foundation's board of directors delegated to the audit committee all power and authority of the board with respect to the audit and form 990, except that the board retained authority over the annual retention and/or termination of the independent auditor.”