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, as specified in the bylaws. 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.”

“Jeff chambers, elizabeth dunlevie, paul king, denny lund, mary leonard, lloyd minor, susan orr, mindy rogers, and cynthia brandt have a business relationship. Katherine orr and susan orr have a family relationship. Elizabeth dunlevie and jane dunlevie have a family relationship.”

“The lucile packard children's hospital at stanford is the sole member of the foundation.”

“The sole member of the foundation, the lucile packard children's hospital at stanford, has the power to appoint the board of directors of the foundation.”

“The sole member of the foundation, the lucile packard children's hospital at stanford, has the power to appoint the board of directors of the foundation. Revisions to the foundation's bylaws must be approved by the member.”

“Management makes the completed form 990 available to the full board and any non-director members of the audit committee no less than two weeks prior to the audit committee meeting at which the form will be reviewed. The board and audit committee are asked to provide feedback and/or questions for discussion at the audit committee meeting. Upon review of the form 990 and after all feedback and questions have been addressed, the audit committee will vote whether to approve a recommendation to the full board to approve the form 990. The form 990 is then presented to the full board for final approval prior to filing.”

“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 ceo is 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 discuss 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 september 25, 2019. 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. The last compensation review was done on september 25, 2019.”

“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.”

“This is the first tax year the lucile packard foundation for children's health, as an employer, would be subject to irc section 4960 tax on payment(s) of more than $1,000,000. However, per irs notice 2019-09, q39, remuneration paid before the start of the first tax year beginning after the effective date of the new law is not subject to the excise tax. Remuneration paid to david alexander was paid in march 2018 and therefore, the organization is not subject to the irc 4960 tax for the year ended august 31, 2019.”

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

“Change in value of investments held in trust -901,419. Grants closed out short, refund of unused grant and ye discount 39,269.”