Principle Foundation Extended Services

“Management duties are delegated to the principle foundation (tpf), a 501(c)(3) public charity, that is the principal foundation extended services (tpfes) sole supported organization. Tpf provides (tpfes) services that include: hiring, firing and supervision of personnel, planning and executing budgets and overall financial operations as well as program and administrative operations. Tpfes paid tpf $230,957 for these services. Within the role of tpf executive director bruce jeffrey received $128,722 in calendar year compensation from tpf. Part of bruce's duties at tpf include providing services to tpfes his as well as a voting board member of tpf and tpfes.”

“The sole member of the corporation is the principle foundation, a related 501(c)(3) public charity, herein tpf.”

“Tpf elects and has the authority to remove and replace all members of the filing organization's governing body.”

“The following actions require the approval of tpf: (a) the alteration, adoption or repeal of the grantmaking policies (b) the election of the officers (c) the compensation of the president (d) the alteration, amendment or repeal of the governing documents”

“An independent accounting firm prepares and reviews the form 990. The independent accounting firm then provides the organization's treasurer and accounting personnel a draft of the form 990 for comments and approval. All issues are resolved and a copy of the form 990 is then provided to the board of directors before filing.”

“The conflict of interest policy covers the board, committees and staff. Actual or potential conflicts are required to be reported as they arise to the board president or the executive director as appropriate. In addition the board president and the executive director monitor proposed and ongoing transactions for potential conflicts. Once identified, these items are reviewed by the board. The individual in conflict cannot be involved in the decision and may be asked to recuse themselves; this does not preclude the board from requesting additional needed information. Decisions about restrictions are recorded in the board minutes.”

“The organization does not have any paid employees, all compensation listed is from a related organization for services rendered as part of the position at the related party. The organization does not compensate any individuals that fit the irs definition of officer or key employee.”

“The organization makes its governing documents and financial statements available upon request. The conflict of interest policy is not made available for public inspection.”

“The organization plans to offer grants to christian science nurses of retirment age who can demonstrate financial need or distress in order to provide supplemental income to those who have given their lives in the service of others but have not been able to set aside sufficient funds for their own retirement. This program was delayed but we expect to launch it in 2021. Each of the program services listed on line 4 are new for 2020.”

“Transfer from the principal foundation 312,187.”

“The organization provides oversight over the independent auditor selection and audit process through overlapping board members with the principle foundation. The principle foundation maintains primary responsibility for these functions.”