World Vision Inc

“The Organization has an executive committee with authority to act on behalf of the governing body. The committee includes the board chair, vice chair, and standing committee chairs. The committee is chaired by the board chair. It may act on behalf of the board between meetings. In addition to responsibilities and limitations on its authority outlined in the bylaws, the committee may not change the bylaws nor appoint/terminate or accept a resignation from the president. The committee serves the board by overseeing relationships with other organizations (including any subsidiary or supporting corporations), public affairs, and the board's annual evaluation of the president and his or her compensation.”

“Form 990 is prepared by an independent CPA firm. It is provided to the entire Board of Directors after it is reviewed by management. The Board of Directors reviews Form 990 and raises any questions to management for resolution. Form 990 is then filed electronically with the IRS and posted to World Vision's web site.”

“World Vision has a written Conflict of Interest Policy. Annually all employees complete a disclosure form identifying transactions and relationships which may be a conflict of interest. Management reviews all disclosed conflicts and determines whether any conflict exists. Any conflicts are raised for review to a committee which includes the CFO, Internal Audit and Legal. Whatever action deemed necessary by this committee is taken, sometimes in consultation with the President. Internal Audit provides a summary report to the Board of Directors via the Audit Committee. There is a similar process for the Board of Directors to submit a conflict of interest disclosure form annually. The Board of Directors disclosures are reviewed by management. Any issues are taken to the Board of Directors for resolution, excluding the Board member for whom the conflict exists.”

“The Board of Directors mandates the compensation philosophy for the entire organization. The President's salary is reviewed on an annual basis. The Board's Executive Committee will formally evaluate the president based on performance and organizational goals after seeking documented input from each member of the Board, as well as, the Senior Leadership Team. The Board also determines any compensation adjustments and documents that approval process. In addition, for the purposes of a compensation review, the Board convenes a compensation committee from the members to periodically contract with compensation consulting firms to conduct an independent review of executive compensation. Once the data is gathered and analyzed by the committee, the recommended compensation package for the President is presented to the full Board for approval. The process for determining the compensation grade levels for the Senior Leadership Team of World Vision Inc. is managed by the Compensation Manager and contemporaneously documented. All senior leadership positions are evaluated and matched to market data of both for-profit and nonprofit organizations where similar positions exist. The President approves the specific salary of the COO, CFO, and Senior Vice President of Human Resources within the appropriate grade level and within World Vision salary administration guidelines based upon recommendation of the Compensation Manager and Compensation Grading Committee. The COO and CFO are responsible to approve the grade levels as well as specific salary amounts for the Senior Leadership Team members who report up to them in accordance with World Vision salary administration guidelines and based on the recommendation of the Compensation Manager and Compensation Grading Committee. In addition, periodic audits and reviews are conducted utilizing an outside consultant to validate that compensation levels of the Senior Leadership Team are consistent with our compensation philosophy and current market data.”

“World Vision posts the audited financial statements on its website. If the requestor does not have access to the internet the organization will mail a copy. The governing documents and the conflict of interest policy are available upon request.”

“Pension Actuarial Gain 7,950,777. Change in Value of Split Interest Agreements 843,959.”

“The Organization's Board assumes responsibility for oversight of the audit of its financial statements and selection of its independent accountant. This process has not changed since the prior year.”