The Asia Foundation

“The organization's bylaws were updated during september 2014. Previously, board trustees could serve two four-year terms and only be re-elected for a third term after at least a one year period away from the board. The updated bylaws grant a waiver of the one year waiting period by approval of the board to allow for uninterrupted service from the trustee.”

“An external public accounting firm and the asia foundation staff work together to gather the required tax information necessary to complete the form 990. The tax firm prepares an initial draft return and reviews the initial draft return with senior management. After items are discussed and reviewed, recommended changes are reflected in the return and a draft form 990 is prepared. A final form 990 is then distributed to the board of trustees for their final review, comments and approval prior to being filed with the irs.”

“The asia foundation requires each trustee, principal officer, and member of a committee with governing board delegated powers to annually sign a statement which affirms each person has received a copy of the conflict of interest policy, has read and understood the policy, has agreed to comply with the policy, and understands the foundation is a non-profit organization and in order to maintain its federal tax exemption it must engage primarily in activities which accomplish one or more of its tax exempt purposes. Additionally, the statement requires the individuals to provide information with respect to related parties and to disclose whether there are any conflicts of interest. The asia foundation also requires periodic review of transactions and relationships to ensure that there are no conflicts of interest. The foundation keeps records of the statements. The executive vice president receives and reviews all conflict of interest disclosure forms and reports any significant or sensitive disclosures to the ceo and board audit committee chair. The audit committee decides appropriate further action, if necessary.”

“Compensation of ceo and cfo is reviewed annually against current compensation benchmark data, and any and all changes are approved by the compensation committee of the board of trustees. Each december, or in the case of a new appointment, prior to an offer of employment, the chief human resources officer and the executive vice president, using benchmark salary survey data, prepare recommendations for the board of trustees compensation committee. The committee reviews the recommendations and makes a final determination. The chairman of the board of trustees then notifies the ceo and cfo of any changes in compensation and the effective date. The ceo and cfo do not participate in the process. Compensation for employees at the vice presidential and senior management level fall within the guidelines of the annual foundation compensation program. Each december, the foundation's chief human resources officer reviews compensation data. Based on movement within the comparative market, the chief human resources officer makes a salary increase budget recommendation to the ceo. Once the budget is approved, employee salaries are determined in accordance with the foundation's compensation program guide for managers. Subsequent salary increases, if any, are effective in the first pay period of january. Compensation was last reviewed in december 2014.”

“The asia foundation's audited financial statements are published on its website and are provided upon request. Governing documents and conflict of interest policy are available upon request.”

“Forty volunteers served on the board of directors during the year. Additionally, volunteers served as emerti members of the board of directors, members of the president's leadership council, members of the board of directors for taf's foreign controlled entities, lotus circle advisors and hosts or host committee members in the young lotus circle.”

“This line reflects only the 2013 forms w-2 required to be filed for us tax purposes. In total, the asia foundation had 819 employees worldwide. Of these, 107 were us-based and the other 712 were employees working overseas.”

“Foreign currency fluctuation 8,598. Change in post-retirement benefit obligation -43,552. Grants refunded 708,298. Sale of interest in lazard alternative strategies fund, llc -6,957.”