Kids in Need Foundation

“The executive committee shall consist of the chair, immediate past chair, vice chair, secretary, treasurer, and such other members as may be appointed by the board of directors. The committee shall have and exercise the authority of the board of directors in the management of the foundation during the intervals between meetings. Delegation of authority to act on behalf to an executive commitee or similar committee: committees , as a smaller group, can be more focused and efficient in dealing with issues than the full board. A committee is created to provide counseling and advice for the board or to handle a task on the board's agenda. For kids in need foundation (kinf), effective committees have: - a clear job description and defined goals - a chair who is able to involve all members in the committee work - members who are committed and willing to spend the needed time to accomplish their tasks - a sense of being part of the full board and not working in isolation - an understanding of time constraints and deadlines - an understanding that it does not make decisions; rather it advises, recommends, or carries out a task - an evaluation process to assess its own achievements the kinf committees are as follows and include the following responsibilities: executive committee - exercises the authority of the board when the board is not in session - ensures a framework and process for strategic planning that reflects a shared board and staff vision of the organization's role, values and priorities; monitors the organization's progress against the strategic plan - establishes the compensation [salary and benefits] of the ceo, consistent with applicable irs and other regulations - sets the agenda for board meetings governance & nominating committee - ensures the health and functioning of the board - nominates individuals to serve as directors - ensures the integrity of the nominating process and succession planning - conducts new director orientation - recommends governance principles and policies - produces board materials - evaluates the performance of the board and individual directors finance & investment committee - reviews the accuracy of the financial statements and reports - oversees financial policies, capital structure, and annual operating and capital budget - oversees investments, credit and other market risks audit committee evaluates: - the integrity of the financial statements - the effectiveness of the internal controls over financial reporting - the independence and qualifications of the accounting firm and the quality of the work - the foundation's compliance with regulatory requirements”

“The 990 is reviewed by two committees (finance investment committee, audit committee) who will approve the 990 as a part of their meetings. These reviews will take place as soon as the 990 is completed either via a part of a scheduled meeting or via review sent by email. The review will be in conjunction with the review of the annual audited financial statements. These committees represent half of the full board. The next full board meeting materials will include the 990 to be filed; however, if the two committees have reviewed and full board meeting is not timely, the organization may file the 990 with the irs ahead of inclusion to the full board.”

“Full 990 and all supporting schedules are shared and voted upon by the board of directors.”

“The conflict of interest policy covers the board of directors who complete a conflict of interest form annually. The board of directors review and identifies when conflicts exist. Before any votes are taken during a board meeting, members who have a conflict must abstain from voting. The discussion and proceedings related to potential/actual conflicts of interest are documented in the board meeting minutes.”

“Compensation of the ceo was initially determined with the support of the search firm responsible for filling the position and an outside compensation consultant hired in 2019. Prospectively, the ceo's annual review is conducted by the board's executive committee (ec) with input from staff on overall organizational performance, metrics, etc. The ec will establish a salary uplift for the ceo and communicate any adjustments to the vp of finance and operations. Additionally, the ec will determine when and how a compensation external assessment is necessary. No other processes involving key employees involve the ec and/or the board. The latest review by independent persons, comparability data, and contemporaneous substantiation of the deliberation and decision of the compensation process took place in 2024. The process described here was last completed in 2024.”

“The organization has all documents available in the main office. An individual can view the documents upon request. The organization publishes an annual report, which is available on their website. The organization maintains a copy of form 1023 and form 990 filed with the irs at their main office for review. The returns are also posted on guidestar.org for the general public to review, as well as on the organization's website.”

“The process for oversight and selection of an independent accountant has not changed from the prior year.”