The Fuller Foundation

“During 2017, the organization amended various provisions in its bylaws, including the removal of the requirement to appoint a chief operating officer. Since the organization has a currently appointed chief operating officer, the position is included in form 990, part vii.”

“The president and board chair of fuller theological seminary shall each be a director of the fuller foundation during such a period of time as he or she holds such office. Additionally, the fuller theological seminary board of trustees shall select additional voting members of the board of the fuller foundation (selected directors"), so long as the seminary president, the seminary board chair, and the selected directors together constitute 49% (or such smaller numbr which is the largest possible percentage that does not exceed 49%) of the total number of directors of the fuller foundation.”

“The coo oversees the internal accounting team that provides documentation to the outside tax preparer, who prepares the form 990 and signs the returns as paid preparer. Once a draft of the form 990 has been received from the outside tax preparer, the internal accounting staff and coo perform a review. The coo releases a copy to the audit committee for review and approval, which was formally reviewed with the audit committee after the form 990 was filed.”

“The organization has a written conflict of interest policy, and all officers and employees are required to disclose annually any interests that could give rise to conflicts. This policy is monitored by the audit committee of the board. Officers and key employees are required to disclose any potential conflicts of interest. In 2017, directors began providing written affidavits regarding the absence or existence of any potential conflicts of interest. In the event that a potential conflict of interest did occur, the board of directors would review the circumstances creating the potential conflict in accordance with california corporations code section 5233.”

“In determining the compensation of the organization's executive director, the process includes a detailed review and approval by an independent board committee. When it is determined to be needed, detailed comparability data is sought in the determination of the compensation. Adjustments to compensation are reviewed periodically by the independent board committee. A new executive director was hired in 2017 and his compensation was based on estimated market conditions. In determining the compensation of the organization's other officers or key employees, the process includes a detailed review and approval by an independent board committee using recommendations by executive management. Recommendations are made based on items such as the employee's performance, cost of living changes, and comparisons to similar organizations. Performance reviews and compensation adjustments are evaluated annually.”

“The fuller foundation makes its governing documents, conflict of interest policy, and financial statements available upon request.”

“The services of the fuller foundation benefit and carry out the charitable purposes of christian based and other charitable organizations. This includes direct support of fuller theological seminary, other christian based organizations, other charitable organizations, and various designated, restricted, or endowment funds. The foundation fulfills its purposes through the administration and management of charitable trusts, charitable funds, donor advised funds, and gift annuity type accounts. Program related distributions include gifts and grants to the seminary and a broad base of charitable organizations, including gifts from donor advised funds. Gifts and grants are predominately to u.s. Based irs determined 501(c)(3) charities. Select grants and gifts are made to foreign organizations that have been determined to be organized for exclusively charitable purposes. Other activities include providing trust fiduciary services to other charitable organizations with a christian mission.”

“Change in value split interest agreements -2,772,935. Unrelated business income not recorded on books -30,640. Change in asset value of retirement benefit plan -972.”