Genspan Foundation

“The 990 is reviewed and approved by the treasurer, board president, and bookkeeper prior to submission.”

“As a separate document, the foundation provides the directors/governing body.”

“The compensation package of the executive director is reviewed and approved annually by the executive committee.”

“Any member may inspect the accounting books and records and the minutes of the proceedings of the members, the board, and commitees of the board at any reasonable time for a purpose reasonably related to the member's interest as a member.”

“Equipment - repairs & maintenance: program service expenses 945. Management and general expenses 945. Fundraising expenses 0. Total expenses 1,890. Health insurance: program service expenses 1,287. Management and general expenses 552. Fundraising expenses 0. Total expenses 1,839. Payroll admin fees: program service expenses 1,167. Management and general expenses 500. Fundraising expenses 0. Total expenses 1,667. Transport-children: program service expenses 1,295. Management and general expenses 0. Fundraising expenses 0. Total expenses 1,295. Volunteer screening: program service expenses 807. Management and general expenses 0. Fundraising expenses 0. Total expenses 807. Bank charges: program service expenses 0. Management and general expenses 442. Fundraising expenses 0. Total expenses 442. Public relations: program service expenses 162. Management and general expenses 162. Fundraising expenses 0. Total expenses 324. Automobile expense: program service expenses 144. Management and general expenses 144. Fundraising expenses 0. Total expenses 288. Penalties: program service expenses 0. Management and general expenses 236. Fundraising expenses 0. Total expenses 236. Books & publications: program service expenses 23. Management and general expenses 23. Fundraising expenses 0. Total expenses 46. Tax & fees: program service expenses 0. Management and general expenses 17. Fundraising expenses 0. Total expenses 17.”

“Increase to investment value - endowment assets 13,506. Cumulative adj to investment value - other securities 21,592.”

“Organization uses cash method of accounting for all operations but reports investment assets held at their year end fair market values with the resulting net change in asset values reported in part xi, line 9 of form 990”

“In 2013 the genspan board of directors authorized transfer of $236,985 to the santa barbara foundation to establish an agency endowment fund to support the charitable programs and activities of genspan foundation. Management of the funds is governed by the agency agreement and annual distributions may be made in accordance with santa barbara foundation's spending policy for its endowed funds. There were no distributions from the fund during 2013 and the net asset value at year end was $250,491.”