Descanso Gardens Foundation

“Bylaws article 3 section 3 terms of office: added sentence to this section: the committee on trustees may recommend extending the term of a trustee by one year in the event of extraordinary circumstances. Such extension shall require approval of the board via affirmative majority vote in the presence of a quorum. Bylaws article iv section 4.12 executive director and director of finance compensation: removed director of finance compensation from board review. Bylaws article iii section 3.02 number of trustees: number of trustees was fixed at twenty-two (22).”

“The information used to prepare form 990 is gathered with the assistance of the executive director, cfo, and the director of development. The above data is then presented for compilation to the agency's outside cpa. Prior to filing the prepared form 990, the form is reviewed by the above listed parties and also by the audit committee. Once the form is approved by the above parties, the full board receives a copy of the form 990 prior to filing with the irs.”

“The organization annually receives a signed conflict of interest disclosure statement from each active board member and members of senior staff. The disclosures are reviewed, and if necessary, are further discussed until a determination is made as to whether a conflict of interest exists. The organization will take appropriate action, dependent on the outcome of the above referenced discussion.”

“The board compensation committee reviews and approves the compensation of the executive director to assure that it is just and reasonable. Review and approval occur independently, without the participation of the interested person. The committee uses comparability data from similar organizations' 990s, compensation studies, and other relevant market data during the review. This review and approval occurs initially upon the hiring of the executive director, whenever the term of employment is renewed or extended, and whenever compensation is modified. Separate review and approval is not required if a modification of compensation extends to substantially all employees. Approval of the chief financial officer's initial compensation offer uses the same process. Subsequent increases in compensation, which are in line with other staff increases, are at the discretion of the executive director.”

“The organization makes its governing documents, conflict of interest policy and financial statements available to the public upon request. In addition, the audited financial statements and form 990 are posted on the organization's website.”

“PLEDGE WRITEOFFS -5,000.”