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 limitation 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 website.”

“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 Controller, Internal Audit and Legal. Whatever action deemed necessary by this committee is taken, sometimes in consultation with the President. Legal provides a summary report to the Board of Directors via the Audit and Finance 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 organization's 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's Executive Committee periodically contracts 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 is managed by World Vision US' Director, Compensation & Performance Management 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 CFO, the Senior Vice President of Human Resources, and other leadership positions who report directly to the President within the appropriate grade level and within the Organization's salary administration guidelines based upon recommendation of the Director, Compensation and Performance Management. 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.”

“Directors, officers, key employees, highest compensated employees, and former such persons are listed in descending order of reporting per the instructions without regard to level of compensation.”

“All other revenue - Total Revenue: 1055, Related or Exempt Function Revenue: , Unrelated Business Revenue: , Revenue Excluded from Tax Under Sections 512, 513, or 514: 1055;”

“The Organization provides emergency relief and long-term community development programs in countries around the world. The Organization also engages and equips volunteers to engage in the essential ministry of advocacy, working to change policies and practices that keep children and families in poverty from living the full lives God intended. This work includes empowering children, families, and community leaders to advocate on their own behalf. World Vision serves all people, regardless of religion, race, ethnicity, or gender. The Organization strives to maximize its impact by partnering with other development groups, local organizations, churches, and governments.”

“World Vision adopted ASU 2016-02, Leases (Topic 842) for its fiscal year ended September 30, 2023 and elected to adjust comparative periods. This resulted in a $182,958 reduction to net assets as of September 30, 2022.”

“Pension plan adjustments - 134020; K-1 Loss on limited partnerships - 67; Non-operating expenses - -822442;”

“World Vision Inc makes grants to independently organized World Vision International offices located in foreign countries. Total expenditures differ to that reported on Part IX, Line 3 as a result of freight charges not being broken out by country.”