2023-03-13T10:48:01-05:00 2022-12-31 410746749 CLIFTONLARSONALLEN LLP 901 NORTH GLEBE ROAD SUITE 200 ARLINGTON VA 22203 990 2022-01-01 521681375 BOARDSOURCE BOAR 2023492500 750 9TH STREET NW 520 WASHINGTON DC 200014590 MONIKA KALRA VARMA PRESIDENT & CEO 2023492500 2023-03-10 1 MONIKA KALRA VARMA 999009999 0 ROBERT WILLIAMS P01345960 5712279500 2023-03-10 3 AAL1 IAL1 2022 2023-04-26 12:10:37Z MONIKA KALRA VARMA 750 9TH STREET NW 520 WASHINGTON DC 200014590 3881647 0 X WWW.BOARDSOURCE.ORG X 1990 DC TO INSPIRE AND SUPPORT NONPROFIT BOARDS AND EXECUTIVES TO LEAD JUSTLY AND WITH PURPOSE. 8 8 21 9 0 0 6545137 719558 2529182 2730753 71413 65597 279386 288042 9425118 3803950 0 0 0 0 1692273 2123368 0 0 407087 1370321 1873034 3062594 3996402 6362524 -192452 10359989 10860434 1631202 2686126 8728787 8174308 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 1047950 1675968 EDUCATIONAL PROGRAMS FOR MEMBERSBOARDSOURCE 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. AT THE END OF 2022, THERE WERE 590 MEMBER ORGANIZATIONS IN THE BOARD SUPPORT PROGRAM, 70 FEDERATED MEMBERS, 32 CORPORATE MEMBERS, 14 FOUNDATION MEMBERS, AND 1500 INDIVIDUAL LEADERS PARTICIPATING ACROSS ALL MEMBERSHIP PROGRAMS. 750982 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. 419313 752744 ASSESSMENT SERVICESBOARDSOURCE'S ASSESSMENT SERVICES HELP ORGANIZATIONS IDENTIFY CORE ISSUES IN THEIR BOARD PERFORMANCE AND DEVELOPMENT. IN 2022, BOARDSOURCE CONDUCTED APPROXIMATELY 425 BOARD ASSESSMENTS AND 187 CHIEF EXECUTIVE ASSESSMENTS. 240732 302041 PROFESSIONAL DEVELOPMENTBOARDSOURCE'S PROFESSIONAL DEVELOPMENT PROGRAMS PROVIDE LEADERSHIP DEVELOPMENT AND LEARNING PROGRAMMING FOR CONSULTANTS TO BOARDS. BOARDSOURCE'S PROFESSIONAL DEVELOPMENT PROGRAMS FOR CONSULTANTS REACHED MORE THAN 190 INDIVIDUALS IN 2022. ADDITIONALLY, IN 2022 BOARDSOURCE HOSTED A 3-DAY EXECUTIVE RETREAT FOR NONPROFIT CEOS TO ENGAGE IN OPEN AND HONEST DISCUSSIONS AROUND IMPACTS TO AN ORGANIZATION'S MISSION AND CREATING ACTION PLANS TO ADDRESS KEY OPPORTUNITIES AND CHALLENGES FACING BOARD LEADERSHIP. THE EVENT CONVENED 36 NONPROFIT CEOS IN A COLLABORATIVE ENVIRONMENT FOR AN INVALUABLE PEER LEARNING EXPERIENCE LED BY SEASONED NONPROFIT GOVERNANCE PROFESSIONALS. 66489 166765 LIBRARY OF RESOURCESBOARDSOURCE'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 2022 ALONE, MORE THAN 651,000 INDIVIDUALS ACCESSED INFORMATION ON BOARDSOURCE.ORG AND MORE THAN 366,000 ONLINE RESOURCES WERE VIEWED AND/OR DOWNLOADED BY NONPROFIT LEADERS FROM ACROSS THE COUNTRY AND AROUND THE GLOBE. 307221 468806 2525466 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 22 0 1 21 1 0 0 0 0 0 0 0 0 0 0 0 0 X 8 8 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 X X JOAN PAYNE 2023492535 750 9TH STREET NW SUITE 520 WASHINGTON DC 20001 ANNE WALLESTAD PRESIDENT & CEO (UNTIL 06/2022) 40.00 X 276622 0 11836 JUDY RECKELHOFF CHIEF OF STAFF 40.00 X 171932 0 14848 ANDREW DAVIS ASSOCIATE VP, MEMBER EDU. 40.00 X 151860 0 12964 STELLA FORD ASSOCIATE VP, FND RELATIONS 40.00 X 147267 0 14653 JOAN PAYNE VP, FINANCE 25.00 X 118563 0 4743 MONIKA VARMA PRESIDENT & CEO (FROM 08/2023) 40.00 X 103791 0 534 TAKITA BATTLE DIR. OF CORP. & FED. PARTN 40.00 X 118202 0 14331 JULIA WILSON BOARD CHAIR 3.00 X X 0 0 0 MARK SHAMLEY VICE CHAIR 3.00 X X 0 0 0 KIETH LIEDERMAN TREASURER 4.00 X X 0 0 0 CAROL GOSS SECRETARY 3.00 X X 0 0 0 TERRI LEE FREEMAN BOARD MEMBER 3.00 X 0 0 0 KEVIN WALKER BOARD MEMBER 3.00 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 JUDY VREDENBURGH BOARD MEMBER (UNTIL 12/2022) 2.00 X 0 0 0 1088237 0 73909 7 0 1 0 DOCMATION LLC 3000 NORTHWOOKS PKWY STE 150 ATLANTA GA 30071 SOFTWARE CONSULTING SERVICES 510250 MEDIA CAUSE INC PO BOX 190432 SAN FRANCISCO CA 94119 MARKETING SERVICES 163040 2 719558 719558 MEMBERSHIP DUES 900099 1675968 1675968 ASSESSMENTS 900099 752744 752744 PROF. DEV. PROGRAMS 900099 302041 302041 2730753 65597 65597 106785 106785 244462 77697 166765 166765 HONORARIUMS 900099 14492 14492 14492 3803950 2897518 0 186874 X 516088 238451 220071 57566 1335467 840067 338968 156432 41651 25755 11032 4864 95358 56287 28025 11046 134804 78674 40545 15585 12734 2435 10299 25699 25699 548154 473862 45684 28608 53425 31323 15979 6123 193421 128868 46671 17882 9298 9298 365095 214055 109200 41840 45945 26938 13742 5265 95532 83898 7330 4304 432 432 61661 36152 18443 7066 43056 25244 12878 4934 SITE LICENSES & REGISTR 261231 153160 78134 29937 STAFF DEVELOPMENT 96895 56550 29143 11202 DUES & SUBSCRIPTIONS 36474 21385 10909 4180 SHIPPING/POSTAGE/PRINTI 21768 21768 2214 1296 665 253 3996402 2525466 1063849 407087 330 330 5783922 5181782 407000 208150 68065 146922 144633 92211 249379 253395 1163842 497023 200217 666819 3506443 3196615 0 1114210 10359989 10860434 339014 271552 1106489 1148536 185699 1266038 1631202 2686126 X 8277092 7493571 451695 680737 8728787 8174308 10359989 10860434 -192452 -362027 0 X 0 1 X 1 0 X 2956421 533082 721118 6545137 734050 11489808 2956421 533082 721118 6545137 734050 11489808 1689442 9800366 459544 432717 398862 140852 172382 1604357 3966 2233 4263 10462 13104627 16378973 0.74790 0.74620 X SCHEDULE A, PART II, LINE 10, EXPLANATION OF OTHER INCOME: OTHER REVENUE - 2018 AMOUNT: $ 3,966. 2019 AMOUNT: $ 2,233. 2020 AMOUNT: $ 4,263. RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 1006 1006 3995396 3996402 349820 87455 0 0 6345842 388647 303130 349820 7387439 11081159 4911 210 276 1006 6403 116885 97162 75783 87455 377285 565928 4911 210 276 1006 6403 362898 -18698 344200 343622 19276 362898 330198 13424 343622 298280 31918 330198 309515 -11235 298280 0.08000 0.92000 0 0 1163842 497023 666819 666819 RIGHT OF USE ASSET - CAPITAL LEASE 2989 RIGHT OF USE ASSET - OPERATING LEASE 1111221 1114210 LEASE LIABILITY: OCCUPANCY 1266038 1266038 X 3624942 -362027 105322 -256705 3881647 -77697 -77697 3803950 4179421 105322 77697 183019 3996402 0 3996402 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 -77,697. PART XII, LINE 2D - OTHER ADJUSTMENTS: COST OF GOODS SOLD 77,697. X X X X X 1 0 0 0 0 0 0 0 0 ANNE WALLESTAD PRESIDENT & CEO (UNTIL 06/2022) 180328 0 20000 0 76294 0 7153 0 4683 0 288458 0 0 0 JUDY RECKELHOFF CHIEF OF STAFF 157432 0 14500 0 0 0 6887 0 7961 0 186780 0 0 0 ANDREW DAVIS ASSOCIATE VP, MEMBER EDU. 139860 0 12000 0 0 0 4595 0 8369 0 164824 0 0 0 STELLA FORD ASSOCIATE VP, FND RELATIONS 135267 0 12000 0 0 0 2632 0 12021 0 161920 0 0 0 PART I, LINE 4A FORMER CEO ANNE WALLESTAD RECEIVED A SEVERANCE PAYMENT OF $76,294 PER EMPLOYMENT 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 DRAFT 990 IS REVIEWED BY THE ENTIRE BOARD OF DIRECTORS BEFORE IT IS SIGNED AND FILED. 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. THE AUDIT COMMITTEE (EXCEPT THE POTENTIALLY CONFLICTED DIRECTOR, IF HE OR SHE SERVES ON THE COMMITTEE) WILL REVIEW THE MATTER TO DETERMINE IF AN ACTUAL CONFLICT EXISTS AND RESOLVE IT USING THE FOLLOWING PROCESS. FORM 990, PART VI, SECTION B, LINE 15 PRIOR TO DETERMINING A COMPENSATION INCREASE FOR THE PRESIDENT & CEO, A COMPENSATION ANALYSIS IS COMPLETED. IN 2022, 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. IN ADDITION TO THE PROCESS DESCRIBED ABOVE, A SEARCH FIRM WAS UTILIZED IN DETERMINING STARTING SALARY WHEN THE NEW CEO WAS HIRED IN AUGUST 2022. 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 CHIEF OF STAFF, MS. RECKELHOFF, WAS ENACTED AS A TEMPORARY OFFICER OF THE ORGANIZATION DURING THE SIX-WEEK VACANCY OF THE PRESIDENT & CEO. DURING THIS VACANCY, NO ADJUSTMENTS TO MS. RECKELHOFF'S COMPENSATION WERE MADE. 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 PAST 5 YEARS AUDITS ARE AVAILABLE ON OUR WEBSITE. THE CONFLICT OF INTEREST POLICY AND GOVERNING DOCUMENTS ARE AVAILABLE UPON REQUEST. FORM 990, PART IX, LINE 11G CREDIT CARD PROCESSING FEES: PROGRAM SERVICE EXPENSES 52,707. MANAGEMENT AND GENERAL EXPENSES 3,850. FUNDRAISING EXPENSES 1,475. TOTAL EXPENSES 58,032. OUTSOURCED PROFESSIONAL FEES: PROGRAM SERVICE EXPENSES 421,155. MANAGEMENT AND GENERAL EXPENSES 41,834. FUNDRAISING EXPENSES 27,133. TOTAL EXPENSES 490,122.