Santa Barbara Foundation

“The finance and audit committees of the santa barbara foundation board reviewed the final form of the 990 prior to filing the form with the irs. In addition, prior to filing the 990, a copy of the final form 990 was distributed to each voting member of the board.”

“Trustees, committee members and staff complete a conflict of interest policy annually. Committee and board members recuse themselves before actions are taken during meetings if they have a conflict of interest. They will also complete a conflict of interest form (to abstain from voting) to validate their conflict of interest.”

“The 2018 ceo compensation was set by the board at an executive session, based on comparable data from various sources such as the council on foundation salary survey, the guidestar compensation report and/or other applicable surveys and information, including information obtained from professional consultants. A performance evaluation was conducted by the board and consolidated by the board chair. The process and decision are recorded in a document that is maintained confidentially by the cfo. While previously the board employed ad hoc task forces to address varying aspects of compensation and make recommendations to the board, the board established a permanent compensation committee by resolution dated april 11, 2019. Pursuant to its charter, this committee now (a) conducts an annual review of the ceo's performance and assesses the reasonableness of the ceo's total compensation in relation to the marketplace, including by using comparability data; (b) solicits board input regarding the ceo's performance; (c) develops and recommends for board approval any changes in the ceo's total compensation; (d) develops and recommends for board approval any changes in the ceo's employment agreement, severance and/or retention agreement, if any are in effect; (e) works collaboratively with the ceo to recommend for board approval the ceo's annual performance goals; and (f) documents the foregoing. The 2018 compensation of the cfo was approved by the board based on comparable data and documented. The compensation committee described in the foregoing paragraph now has the responsibility to assess, determine and document the reasonableness of total compensation ranges of the cfo and all employees with total compensation ranges at or over $150,000. When appropriate, the committee selects and engages professionals to gather and review in advance, appropriate market comparability data on the amount and form of compensation paid for comparable positions by other comparable employers. For compensation of the covered employees in 2018, this committee confirmed the reasonableness of such compensation at its meeting on october 17, 2019. Such employees for 2018 held the following positions: chief financial officer; chief revenue & business development officer; chief strategy officer; director of development; director of investments; director of donor relations; director of grantmaking.”

“Annual audited financial statements are available on the foundation's website. Articles of incorporation, by-laws and conflict of interest policy are available upon request.”

“Change in value of crt and trust -2,349,439.”

“There has been no change in the current tax year to the oversight or selection process of the audit and independent accountant.”