The Fuller Foundation

“The organization does not have "members" by definition of the bylaws. However, the form 990 instructions define "member" as any person (including a corporation or other legal entity) who, pursuant to a provision of the organization's governing documents, has the right to participate in the organization's governance or to receive distributions of income or assets from the organization. Accordingly, the organization has one member: fuller theological seminary.”

“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 number which is the largest possible percentage that does not exceed 49%) of the total number of directors of the fuller foundation.”

“The cfo 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, cfo, and executive director perform a review. The cfo releases a copy to the audit committee for review and approval, and then forwards to the full board for review prior to filing.”

“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. 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.”

“Change in value split interest agreements -293,490. Unrelated business income not recorded on books -36,517.”