Bbbsa Charitable Foundation Inc

“All officer compensation is determined, reviewed, approved, and paid by BBBSA, a related tax-exempt organization; therefore, Form 990 Part VI Lines 15a and 15b have been answered "no" in accordance with the instructions to IRS Form 990. The process utilized by BBBSA to review the compensation of those individuals reported on this Form 990 is as follows: The compensation of other officers is determined by the BBBSA CEO and approved by the BBBSA board. The BBBSA CEO and the BBBSA board utilize the compensation information reported on the forms 990 of similar organizations for individuals in comparable roles in evaluating the compensation of other officers. This process is undertaken annually and was last conducted in FYE 6/30/2024. Additionally, BBBSA engaged an independent consultant to assist with establishing compensation for the other officers. The most recent review was last conducted 6/15/2024.”

“The organization's sole member is Big Brothers Big Sisters of America ("BBBSA"), a related tax-exempt organization.”

“A minimum of three of the members of the organization's Board of Directors shall be appointed by BBBSA, the organization's sole member.”

“The Board of Directors of BBBSA reserves the following powers from the Board of Directors of the organization: (a) To appoint Directors as provided in the Bylaws of the organization; (b) To have the independent authority to remove a BBBSA Appointed Director, without cause, at its sole and absolute discretion (such power and authority does not extend to the removal of the Unaffiliated Directors however); (c) To approve all amendments to the Articles of Incorporation and Bylaws of the organization; (d) To approve the appointment by the Board of Directors of the Officers of the Board of Directors of the organization and the Officers of the organization; (e) To approve the establishment and dissolution of any subsidiary entities; and (f) To approve the organization's making of a loan or debt instrument to or equity investment in an individual or corporate entity. Additionally, the Boards of Directors of BBBSA and the organization must jointly approve any transfer of assets of the organization's assets exceeding fifty thousand dollars in value, except (a) when such transfer is to BBBSA, or (b) when such transfer is made to a lender to the organization in relation to a full or partial satisfaction of a loan made to the organization by the same lender when such loan was approved by the Board of Directors of BBBSA, including transfer of (i) mortgaged tangible or intangible assets, (ii) tangible or intangible assets subject to liens or pledge agreements, or (iii) tangible or intangible assets included in a lender's collateral for a loan to the organization.”

“The organization has no committees with authority to act on behalf of the governing body; therefore, this question has been answered "no" in accordance with the instructions to IRS Form 990.”

“The form 990 will be reviewed by the President and Treasurer and then presented to the Board for review prior to filing with the IRS.”

“The organization has a written conflict of interest policy which requires officers, directors and key employees to disclose potential conflicts of interest. Potential and actual conflicts of interest are reviewed and any members with conflicts of interest are prohibited from participating in related decisions.”

“The Organization makes its governing documents, conflict of interest policy, and financial statements available to the public upon request. The financial statements are also available on our website at www.bbbs.org.”

“Transfer of assets from related organization - 23722194;”