2024-04-15T13:22:00-05:00 2023-12-31 410746749 CLIFTONLARSONALLEN LLP 901 NORTH GLEBE ROAD SUITE 200 ARLINGTON VA 22203 990 2023-01-01 521681375 BOARDSOURCE BOAR 2023492500 750 9TH STREET NW 520 WASHINGTON DC 200014590 MONIKA KALRA VARMA PRESIDENT & CEO 2023492500 2024-04-11 1 MONIKA KALRA VARMA XXX-XX-XXXX 0 ROBERT WILLIAMS P01345960 5712279500 2024-04-11 2 AAL1 IAL1 2023 2023-04-26 12:10:37Z MONIKA KALRA VARMA 750 9TH STREET NW 520 WASHINGTON DC 200014590 4163304 0 X WWW.BOARDSOURCE.ORG X 1990 DC TO INSPIRE AND SUPPORT NONPROFIT BOARDS AND EXECUTIVES TO LEAD JUSTLY AND WITH PURPOSE. 11 11 23 12 0 0 719558 756323 2730753 2829706 65597 276351 288042 262559 3803950 4124939 0 0 0 0 2123368 2638997 0 0 263746 1873034 2056414 3996402 4695411 -192452 -570472 10860434 10111728 2686126 2230378 8174308 7881350 X TO INSPIRE AND SUPPORT NONPROFIT BOARDS AND EXECUTIVES TO LEAD JUSTLY AND WITH PURPOSE. BOARDSOURCE ENVISIONS A FUTURE WHERE THE NONPROFIT COMMUNITY HAS THE LEADERSHIP TO FULFILL ITS PURPOSE AND CREATE A WORLD WHERE ALL CAN THRIVE. 0 0 1262229 SECTOR LEADERSHIP INITIATIVES:BOARDSOURCE'S RESEARCH AND LEADERSHIP CALLS ATTENTION TO THE IMPORTANCE OF STRONG BOARDS, CREATING AWARENESS AND ACTION AROUND CHALLENGES FACING NONPROFIT LEADERS AND IDENTIFYING OPPORTUNITIES TO UNLEASH GREATER IMPACT FOR THE SECTOR AS A WHOLE. BOARDSOURCE'S LEADERSHIP ALSO FOCUSES ON IDENTIFYING AND INTERPRETING TRENDS IMPACTING NONPROFIT LEADERSHIP PERFORMANCE AND EFFECTIVENESS AND GENERATING EVIDENCE-BASED RECOMMENDATIONS FOR BOARD PRACTICE. OF PARTICULAR IMPORTANCE IS BOARDSOURCE'S WORK TO UNDERSTAND AND ADDRESS THE LACK OF RACIAL AND ETHNIC DIVERSITY ON NONPROFIT BOARDS, WHICH WE BELIEVE IS ESSENTIAL TO THE SOCIAL SECTOR'S ABILITY TO ADVANCE THE PUBLIC GOOD AND CREATE A MORE JUST AND EQUITABLE SOCIETY, AND WE CONTINUE TO PROMOTE AND EXPAND THESE CONVERSATIONS. BOARDSOURCE BELIEVES IT IS TIME FOR REAL CHANGE IN THE WAY THAT BOARDS UNDERSTAND AND EMBODY THEIR LEADERSHIP ROLE, WHICH HAS LED US TO DO DEEP THINKING ABOUT WHAT IT WOULD TAKE TO CHANGE. WE ARE AMPLIFYING OUR EFFORTS TO ENGAGE WITH AUDIENCES WITHIN THE NONPROFIT COMMUNITY TO CIRCULATE LEADERSHIP PRACTICES THAT BEST MEET THE NEEDS OF EACH ORGANIZATION AND THE CHALLENGES THEY FACE. 1217751 1846637 EDUCATIONAL PROGRAMS FOR MEMBERS:BOARDSOURCE SUPPORTS THE TECHNICAL SUPPORT AND EDUCATIONAL NEEDS OF NONPROFIT LEADERS, BOARDS, AND ORGANIZATIONS THROUGH A SET OF MEMBERSHIP PROGRAMS DESIGNED FOR NONPROFIT ORGANIZATIONS AND INDIVIDUAL LEADERS (INCLUDING PROGRAMS WITH GROUP ACCESS TO INDIVIDUAL MEMBERSHIP SUPPORT FOR FOUNDATIONS, FEDERATED NETWORKS, AND CORPORATIONS). THESE PROGRAMS PROVIDE OPEN ACCESS TO BOARDSOURCE'S ONLINE LIBRARY OF BOARD LEADERSHIP AND GOVERNANCE RESOURCES, AS WELL AS TECHNICAL ASSISTANCE FROM AN ON-STAFF GOVERNANCE SPECIALIST. BOARDSOURCE ALSO OFFERS THE BOARD SUPPORT PROGRAM, WHICH PROVIDES MORE IN-DEPTH SUPPORT FOR NONPROFIT BOARDS INCLUDING AN ANNUAL BOARD SELF-ASSESSMENT AND A BOARD ORIENTATION CERTIFICATE PROGRAM. 453191 789507 ASSESSMENT SERVICES:BOARDSOURCE'S ASSESSMENT SERVICES HELP ORGANIZATIONS IDENTIFY CORE ISSUES IN THEIR BOARD PERFORMANCE AND DEVELOPMENT. IN 2023, BOARDSOURCE DELIVERED OVER 1,000 BOARD SELF ASSESSMENTS AND CHIEF EXECUTIVE ASSESSMENTS. 162034 193562 PROFESSIONAL DEVELOPMENT:BOARDSOURCE'S PROFESSIONAL DEVELOPMENT PROGRAMS PROVIDE LEADERSHIP DEVELOPMENT AND LEARNING PROGRAMMING FOR CONSULTANTS TO BOARDS. BOARDSOURCE'S PROFESSIONAL DEVELOPMENT PROGRAMS FOR CONSULTANTS REACHED SEVERAL HUNDRED INDIVIDUALS IN 2023. 89541 148279 LIBRARY OF RESOURCES:BOARDSOURCE'S LIBRARY OF NONPROFIT BOARD LEADERSHIP RESOURCES INCLUDES PUBLICATIONS AND TOOLS ON A BROAD RANGE OF TOPICS RELEVANT TO NONPROFIT EXECUTIVES, BOARD LEADERS, AND PRACTITIONERS. IN 2023, HUNDREDS OF THOUSANDS OF NONPROFIT LEADERS FROM ACROSS THE COUNTRY AND AROUND THE GLOBE ACCESSED INFORMATION ON BOARDSOURCE.ORG AS WELL AS VIEWED AND/OR DOWNLOADED ONLINE RESOURCES. 251575 341841 3184746 1 1 0 1 0 0 0 0 0 1 1 0 0 1 1 1 1 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 24 0 1 23 1 0 0 0 0 0 0 0 0 0 0 0 0 X 11 11 0 0 0 0 0 0 0 1 0 0 0 1 1 1 1 1 1 1 1 0 AL AK AZ AR CA CO CT FL GA HI IL KS KY LA ME MD MA MI MN MS MO NH NJ NM NY NC ND OH OK OR PA RI SC TN UT VA WA WV WI DC X X JOAN PAYNE 2023492535 750 9TH STREET NORTHWEST SUITE 520 WASHINGTON DC 20001 MARK SHAMLEY CHAIR 3.00 X X 0 0 0 JULIA WILSON CHAIR - UNTIL 9/2023 3.00 X X 0 0 0 KEVIN WALKER VICE CHAIR 3.00 X X 0 0 0 KEITH LIEDERMAN TREASURER 4.00 X X 0 0 0 TERRI LEE FREEMAN SECRETARY - STARTING 09/2023 3.00 X X 0 0 0 CAROL GOSS SECRETARY, TERM ENDED 12/2023 3.00 X X 0 0 0 JAMIE ALLISON BOARD MEMBER 1.00 X 0 0 0 SILVIA ARGUETA BOARD MEMBER 2.00 X 0 0 0 KYLE CALDWELL BOARD MEMBER 2.00 X 0 0 0 STEPHANIE HULL BOARD MEMBER 2.00 X 0 0 0 GENE TAKAGI BOARD MEMBER 2.00 X 0 0 0 SHERECE WEST-SCANTLEBURY BOARD MEMBER 2.00 X 0 0 0 MONIKA KALRA VARMA PRESIDENT & CEO 40.00 X 320201 0 21346 JOAN PAYNE VP, FINANCE 25.00 X 121563 0 4863 JUDY RECKELHOFF CHIEF OF STAFF 40.00 X 182599 0 15938 STELLA FORD ASSOCIATE VP, FND RELATIONS 40.00 X 157086 0 17210 ANGELYN FRAZER-GILES DIR. GOVERNANCE NETWORKS & INNOVATION 40.00 X 124995 0 5501 DANI ROBBINS DIR. GOVERNANCE STRATEGY 40.00 X 127047 0 3905 MINA SHIN DIR. MEMBER ENGAGEMENT & MARKETING 40.00 X 125149 0 7577 ANDREW DAVIS FORMER ASSOCIATE VP, MEMBER EDU. 40.00 X 165699 0 9671 1324339 0 86011 9 1 1 0 BOARD MEMBER CONNECT 7268 MOUNTAIN ASH DR SE SUITE B GRAND RAPIDS MI 49546 BOARD MATCHING CONSULTING SERVICES 171699 MEDIA CAUSE INC PO BOX 190432 SAN FRANCISCO CA 94119 MARKETING SERVICES 155320 2 756323 756323 MEMBERSHIP DUES 900099 1846637 1846637 ASSESSMENTS 900099 789507 789507 PROF. DEV. PROGRAMS 900099 193562 193562 2829706 242423 242423 77690 77690 2057 -31871 33928 33928 33928 218515 70236 148279 148279 UNEMPLOYMENT REFUND 900099 36590 36590 36590 4124939 2977985 0 390631 X 467973 214288 182847 70838 1830673 1391500 392608 46565 55728 41136 12190 2402 106595 72168 29053 5374 178028 119581 46982 11465 18507 12431 4884 1192 29908 29908 49450 49450 575268 386408 151813 37047 1909 1282 504 123 87777 72416 12348 3013 192710 129443 50856 12411 11766 11766 365066 245215 96341 23510 49297 33113 13009 3175 42099 31014 3379 7706 11230 11230 54228 36425 14311 3492 45354 30464 11969 2921 SITE LICENSES & REGISTR 260950 175280 68865 16805 STAFF DEVELOPMENT 131353 88230 34664 8459 DUES & SUBSCRIPTIONS 47134 31660 12439 3035 SHIPPING/POSTAGE/PRINTI 16972 16972 65436 43954 17269 4213 4695411 3184746 1246919 263746 330 330 5181782 866573 208150 203500 146922 114780 92211 58392 253395 284238 1227217 551251 666819 675966 3196615 7162779 1114210 745170 10860434 10111728 271552 250824 1148536 1120614 1266038 858940 2686126 2230378 X 7493571 7347792 680737 533558 8174308 7881350 10860434 10111728 -570472 277514 0 X 0 1 X 1 0 X 533082 721118 6545137 719558 756323 9275218 533082 721118 6545137 719558 756323 9275218 484092 8791126 432717 398862 140852 172382 320113 1464926 2233 4263 14492 36590 57578 10797722 15160538 0.81420 0.74790 X SCHEDULE A, PART II, LINE 10, EXPLANATION OF OTHER INCOME: OTHER REVENUE - 2019 AMOUNT: $ 2,233. 2020 AMOUNT: $ 4,263. 2022 AMOUNT: $ 14,492. 2023 AMOUNT: $ 36,590. RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 0 0 0 3261992 3261992 313100 78275 0 0 388647 303130 349820 313100 1354697 2032046 210 276 1006 1492 97162 75783 87455 78275 338675 508013 210 276 1006 1492 344200 14565 358765 362898 -18698 344200 343622 19276 362898 330198 13424 343622 298280 31918 330198 0.08000 0.92000 0 0 1227217 551251 675966 675966 RIGHT OF USE ASSET - OPERATING LEASE 745170 745170 LEASE LIABILITY: OCCUPANCY 858940 858940 X 4582090 277514 109401 386915 4195175 -70236 -70236 4124939 4875048 109401 70236 179637 4695411 0 4695411 PART V, LINE 4: THE JUDITH O'CONNOR MEMORIAL FUND: AN ENDOWMENT THAT GENERATES EARNINGS TO SUPPORT A LECTURESHIP WHICH WILL HONOR OUTSTANDING LEADERS AND THINKERS IN THE NONPROFIT SECTOR FOR THEIR ACHIEVEMENTS IN NONPROFIT LEADERSHIP OR THEIR CONTRIBUTION TO THE FIELD OF NONPROFIT GOVERNANCE, AND SCHOLARSHIPS TO ATTEND THE BOARDSOURCE LEADERSHIP FORUM. PART X, LINE 2: BOARDSOURCE IS EXEMPT FROM FEDERAL TAXES UNDER INTERNAL REVENUE CODE SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE (IRC) AS A SECTION 501(A) ORGANIZATION. THE INTERNAL REVENUE SERVICE HAS DETERMINED THAT BOARDSOURCE IS A PUBLICLY SUPPORTED ORGANIZATION. BOARDSOURCE'S INCOME TAX RETURNS ARE SUBJECT TO REVIEW AND EXAMINATION BY FEDERAL AND STATE AUTHORITIES. BOARDSOURCE IS NOT AWARE OF ANY ACTIVITIES THAT WOULD JEOPARDIZE ITS TAX-EXEMPT STATUS. PART XI, LINE 4B - OTHER ADJUSTMENTS: COST OF GOODS SOLD -70,236. PART XII, LINE 2D - OTHER ADJUSTMENTS: COST OF GOODS SOLD 70,236. X X X X X 1 0 0 0 0 0 0 0 0 MONIKA KALRA VARMA PRESIDENT & CEO 314201 0 6000 0 0 0 10349 0 10997 0 341547 0 0 0 JUDY RECKELHOFF CHIEF OF STAFF 172599 0 10000 0 0 0 7314 0 8624 0 198537 0 0 0 ANDREW DAVIS FORMER ASSOCIATE VP, MEMBER EDU. 114279 0 0 0 51420 0 3464 0 6207 0 175370 0 0 0 STELLA FORD ASSOCIATE VP, FND RELATIONS 147086 0 10000 0 0 0 4843 0 12367 0 174296 0 0 0 PART I, LINE 4A NAME: ANDREW DAVIS, DESCRIPTION: FORMER ASSOCIATE VICE PRESIDENT OF MEMBER EDUCATION AND OUTREACH, CURRENT YEAR AMOUNT: $51,420. PLAN DESCRIPTION: PAYMENT PURSUANT TO A SEVERANCE COMMITMENT CONTRACT. FORM 990, PART VI, SECTION A, LINE 8B NO COMMITTEES HAVE THE AUTHORITY TO ACT ON BEHALF OF THE BOARD. FORM 990, PART VI, SECTION B, LINE 11B THE FORM 990 IS INITIALLY REVEWED BY THE VICE PRESIDENT OF FINANCE AND THE PRESIDENT & CEO. IT IS THEN REVIEWED IN FINAL DRAFT FORM BY THE AUDIT COMMITTEE, WHO APPROVES THE RETURN AND RECOMMENDS APPROVAL TO THE BOARD. THE FULL BOARD OF DIRECTORS REVIEWS AND, ONCE APPROVED BY THE BOARD OF DIRECTORS, IT IS FILED WITH THE INTERNAL REVENUE SERVICE. FORM 990, PART VI, SECTION B, LINE 12C THE AUDIT COMMITTEE REVIEWS THESE STATEMENTS ANNUALLY AND REPORTS TO THE FULL BOARD OF DIRECTORS. IF A CONFLICT IS DISCLOSED, THE COMMITTEE REFERS THE MATTER TO THE BOARD OF DIRECTORS FOR ANY REQUIRED BOARD ACTION. AS ADMINISTERED BY THE PRESIDENT & CEO, EACH DIRECTOR AND OFFICER WILL BE ASKED TO COMPLETE A CERTIFICATION OF AGREEMENT WITH THE POLICY AND DISCLOSURE OF ANY KNOWN CONFLICTS OF INTEREST UPON HIS OR HER ELECTION OR REELECTION TO THE BOARD AND ANNUALLY THEREAFTER. AS ADMINISTERED BY THE EMPLOYEE IN CHARGE OF HUMAN RESOURCES, EACH SENIOR STAFF MEMBER WILL BE ASKED TO COMPLETE SUCH A CERTIFICATION UPON HIS OR HER EMPLOYMENT AND ON AN ANNUAL BASIS THEREAFTER. UPON RECOGNIZING THE POSSIBILITY OF A CONFLICT OF INTEREST, THE DIRECTOR, OFFICER OR STAFF MEMBER WILL INFORM THE BOARD CHAIR OR THE CHAIR OF THE AUDIT COMMITTEE BY LETTER OR EMAIL OF THE NATURE OF THE POTENTIAL CONFLICT. FORM 990, PART VI, SECTION B, LINE 15 PRIOR TO DETERMINING A COMPENSATION INCREASE FOR THE PRESIDENT & CEO, A COMPENSATION ANALYSIS IS COMPLETED. IN 2023, THIS ANALYSIS WAS COMPILED BY AN EXTERNAL H/R FIRM, NONPROFIT HR, USING COMPARABLE SALARY DATA FROM THREE SALARY SURVEYS. ADDITIONALLY, COMPARABLE ORGANIZATION SALARY AND BENEFIT INFORMATION IS COMPILED FROM THE FEDERAL FORM 990 OF SIMILAR ORGANIZATIONS TO USE AS A REFERENCE. THE COMPENSATION ANALYSIS IS PROVIDED TO THE VICE CHAIR, WHO CHAIRS THE COMPENSATION AND EVALUATION COMMITTEE, AS WELL AS THE COMPENSATION AND EVALUATION COMMITTEE. THEY PROVIDE ANY RECOMMENDATIONS TO THE FULL BOARD ON A SALARY INCREASE FOR THE PRESIDENT & CEO. THIS IS TYPICALLY COMPLETED DURING THE EXECUTIVE SESSION OF A BOARD MEETING OR THROUGH CONFIDENTIAL EMAIL. ANY INCREASE IN COMPENSATION FOR THIS POSITION REQUIRES APPROVAL OF THE BOARD. ANY INCREASES IN COMPENSATION FOR OFFICERS & KEY EMPLOYEES REQUIRES APPROVAL OF THE BOARD. ALTHOUGH MS. PAYNE IS TREATED AS AN OFFICER FOR PURPOSES OF THE 990 AS THE TOP FINANCIAL OFFICIAL, SHE IS NOT A LEGAL OFFICER OF THE CORPORATION AND THEREFORE HER COMPENSATION IS NOT SUBJECT TO BOARD APPROVAL BUT IS REVIEWED AND APPROVED BY THE CEO IN A MANNER THAT IS CONSISTENT WITH THE REST OF THE STAFF. THE LAST TIME THAT BOARDSOURCE HAD EMPLOYEES OTHER THAN THE CEO WHO WERE CLASSIFIED AS OTHER THAN TEMPORARY OFFICERS OR KEY EMPLOYEES AND WHO RECEIVED A COMPENSATION ADJUSTMENT WAS IN 2012. FORM 990, PART VI, SECTION C, LINE 19 THE PAST 5 YEARS OF FINANCIAL STATEMENTS ARE AVAILABLE ON THE BOARDSOURCE WEBSITE. THE CONFLICT OF INTEREST POLICY AND GOVERNING DOCUMENTS ARE AVAILABLE UPON REQUEST. FORM 990, PART IX, LINE 11G OUTSOURCED PROFESSIONAL FEES: PROGRAM SERVICE EXPENSES 386,408. MANAGEMENT AND GENERAL EXPENSES 151,813. FUNDRAISING EXPENSES 37,047. TOTAL EXPENSES 575,268.