Texas Alternatives Foundation

“Board members were regularly reminded of our conflict of interests policy and asked to acknowledge any conflicts prior to or during meetings.”

“Independent Review and Approval: TAF has a documented policy that ensures an objective and independent review of the CEOs compensation. This policy mandates that the compensation is evaluated and approved by the Executive Committee thereby maintaining impartiality in the decision-making process. Use of Comparability Data: To establish a fair and competitive compensation package TAF benchmarks the CEOs salary against comparable organizations. This involves analyzing compensation data from similar nonprofit entities to ensure that the CEOs remuneration aligns with industry standards and reflects the organizations financial capacity and performance. Contemporaneous Documentation: TAF maintains thorough records of the deliberations and decisions regarding the CEOs compensation. This includes detailed minutes of meetings where compensation matters are discussed the data reviewed and the rationale behind the final decisions. Such documentation ensures transparency and accountability.”

“| Explanation:| Description of Process for Reviewing Form 990 a. Preparation by Officers: The Form 990 is prepared by the organizations officers. b. Board Review: One the Form 990 is prepared it is distributed to the executive committee of the board of directors for their review. They are given the opportunity to examine the document ask questions and provide feedback. c. Approval: After the board has had opportunity to ask questions or voice concerns they provide final approval. d. Filing: After board approval Form 990 is signed and filed by the designated officer of the foundation.”

“Texas Alternatives Foundation filed 990N due to no donations in 2023. However in review we later realized that the loan forgiveness given to the foundation should have triggered the necessity to submit our first full 990 filing.”