The Associated Press Foundation for Journalism Inc

“The sole member of organization is the associated press, a new york not-for-profit corporation.”

“The associated press, sole member, has the right to elect or appoint board members of the organization's board of directors.”

“The foundation's bylaws provide that the associated press, as the sole member, has certain powers reserved to it as provided in the foundation's bylaws such as the appointment of directors and amendments to the bylaws or certificate of incorporation.”

“The organization does not have any committees with authority to act on behalf of the board in 2024.”

“The organization has its form 990 prepared by an independent accounting firm and reviewed by management. After review and approval by management, the form 990 is electronically shared with the full board prior to filing with the internal revenue service.”

“The organization's conflict of interest policy applies to directors, officers, committee members, and key employees. Annually, all applicable individuals will complete a conflict of interest disclosure statement. In connection with any proposed transaction or arrangement that raises an actual or possible conflict of interest, an interested person must disclose the existence and nature of his or her financial interest and must be given the opportunity to disclose all material facts to the board. After disclosure of the financial interest and all material facts, and after any discussion among the disinterested members of the board and the interested person, the interested person must leave the board meeting while the determination of a conflict of interest is discussed and voted upon. The remaining board members must decide if a conflict of interest exists. The minutes of the board meetings contain the names of the persons who disclosed the conflict, the board members who voted on the transaction, and the decision made surrounding the conflict.”

“The compensation of the executive director was established based on comparability data from an independent compensation study of similarly situated organizations with respect to size, budget, and mission. Given the organization was in its formative stage in 2024, compensation was reviewed and approved by the ex-officio directors at the time of hire, none of whom had a conflict of interest. The executive director compensation was via the sole member, the associated press' payroll in 2024.”

“The organization makes its form 990 and form 1023 available for public inspection as required under section 6104 of the internal revenue code. The return is posted on guidestar.org and other similar types of websites. In addition, the financial statements, conflict of interest policy, articles of incorporation, and by-laws are available upon written request or by calling the organization directly.”

“The full board of the organization assumes responsibility for the oversight of the audit of its financial statements and selection of an independent accountant.”