Rowen Foundation Inc

“The board of trustees is composed of business, government, and community leaders in the local area. Due to the extensive involvement of these community leaders in business and other communty affairs, the trustees may have normal business relationships that might be expected of leaders in a suburban community. However, these business relationships shall be conducted at arms' length, pursuant to normal business terms and the rowen foundation's code of conduct/conflict of interest policy.”

“A copy of the form 990 is provided either in paper or electronic format to all board members before it is filed.”

“Annual conflict of interest statements are required from all board members and officers. In addition, all board members and officer are asked to excuse themselves from all decisions that involve them personally.”

“Compensation for top management officials, officers, and key employees is handled by the board without the participation of the individual involved. At this time, there are no employee officers or key employees. Presently, the management function is handled by a turn-key consultant. The contract with the consultant was established at competitive market prices. At such time as the corporation does hire employees compensation levels will be established by a compensation committee of the board following industry guidelines and market data.”

“Governing documents and internal policies are given to employees when they are hired by the organization and are available within the organization's office to those who fall under their covenents, but as proprietary information of the organization, they and the financial statements are not made available to the general public.”

“Mr. Ailstock does not receive any direct compensation from the organization for his work as a board member of the organization. His compensation is tied to the profitability of his employer, which is an independent contractor for the organization, but not to the compensation derived from the specific contracts with the organization.”

“Marketing & communications: program service expenses 406,004. Management and general expenses 16,166. Fundraising expenses 0. Total expenses 422,170. Advocacy: program service expenses 188,585. Management and general expenses 7,509. Fundraising expenses 0. Total expenses 196,094. Business & economic development: program service expenses 133,845. Management and general expenses 5,329. Fundraising expenses 0. Total expenses 139,174. Other services: program service expenses 244,353. Management and general expenses 9,729. Fundraising expenses 0. Total expenses 254,082.”

“The process by which the organization chooses an auditor and prepares its financials has not changed from the prior year.”