2025-05-13T15:14:45-05:00 2024-06-30 410746749 CLIFTONLARSONALLEN LLP 1188 PADRE DRIVE STE 101 SALINAS CA 93901 990 2023-07-01 237098729 NAVAL POSTGRADUATE SCHOOL FOUNDATION INC NAVA 8316562339 PO BOX 2316 MONTEREY CA 93942 RICH PATTERSON CEO 8316562339 2025-05-13 1 1 KIELY HOLCOMB CPA P01430569 8317596300 2025-05-13 2023 2025-03-06 01:10:19Z X RICH PATTERSON PO BOX 2316 MONTEREY CA 93942 14472820 0 X WWW.NPSFOUNDATION.ORG X 1970 CA TO SUPPORT, PROMOTE AND ADVANCE THE MISSION OF THE NAVAL POSTGRADUATE SCHOOL. 30 30 11 135 0 0 3758664 11648468 0 0 449791 -129207 -514783 -525189 3693672 10994072 132997 271611 0 0 1207629 1543123 0 0 943685 2251321 1744196 3591947 3558930 101725 7435142 10003346 19813289 587229 927847 9416117 18885442 X THE FOUNDATION AT THE NAVAL POSTGRADUATE SCHOOL IS A NONPROFIT 501 (C) (3) ORGANIZATION WHOSE MISSION IS TO SUPPORT, PROMOTE AND ADVANCE THE MISSION OF THE NAVAL POSTGRADUATE SCHOOL BY WORKING WITH SCHOOL LEADERSHIP TO IDENTIFY STRATEGIC INSTITUTIONAL PRIORITIES, AND BY RAISING, MANAGING AND DISBURSING PRIVATE GIFTS THAT PROVIDE THE MARGIN OF EXCELLENCE FOR CONTINUING EDUCATIONAL AND INTELLECTUAL DISCOURSE IN AREAS OF STRATEGIC CONSEQUENCE AT THE NATION'S PREEMINENT NATIONAL DEFENSE RESEARCH UNIVERSITY. THIS MISSION IS ACCOMPLISHED THROUGH FOUR DISTINCT PILLARS: RESEARCH FUNDING, INSTITUTIONAL ADVANCEMENT, COMMUNITY OUTREACH AND STUDENT AND FACULTY RECOGNITION. THE FOUNDATION IS COMMITTED TO SERVING THE STUDENTS, FACULTY, STAFF AND COMMUNITY OF THE NAVAL POSTGRADUATE SCHOOL. 0 0 303125 0 14923 PEOPLE THE NAVAL POSTGRADUATE SCHOOL (NPS) FOUNDATION SUPPORTS THE 2,500+ STUDENTS AND THEIR FAMILIES AT NPS, ALONG WITH NEARLY 1,000 FACULTY, STAFF MEMBERS, AND MEMBERS OF THE SURROUNDING COMMUNITY. THE NPS STUDENT BODY CONSISTS OF 88% ACTIVE-DUTY SERVICE MEMBERS FROM ACROSS THE U.S. ARMED SERVICES, ALONG WITH OVER 200 INTERNATIONAL STUDENTS FROM APPROXIMATELY 50 PARTNER NATIONS.THE NPS FOUNDATION SUPPORTS PROGRAMS THAT IMPROVE QUALITY OF LIFE FOR NPS STUDENTS AND THEIR FAMILIES, HELPING THEM BUILD COMMUNITY, RELATIONSHIPS AND STRENGTHEN THE FAMILY UNIT DURING THEIR TIME IN MONTEREY.IN FY24, THE FOUNDATION OPERATED AND SUPPORTED 15 RECREATION CLUBS WITHIN THE NPS COMMUNITY. MEMBERSHIP IN THESE CLUBS IS FREE FOR STUDENTS, ALUMNI, FACULTY, STAFF, AND THEIR FAMILIES. THESE CLUBS PLAY A KEY ROLE IN FOSTERING A SENSE OF COMMUNITY, PARTICULARLY FOR STUDENTS AND THEIR FAMILIES WHO ARE TYPICALLY AT NPS FOR 12-24 MONTHS. THEY OFFER OPPORTUNITIES FOR STUDENTS AND THEIR FAMILIES TO QUICKLY CONNECT WITH OTHERS WHO SHARE THEIR INTERESTS.MORE THAN 900 NPS COMMUNITY MEMBERS PARTICIPATE IN THESE CLUBS, WHICH ALSO WELCOME FAMILY MEMBERS AT NO CHARGE. IN FY24, THE FOUNDATION CONTRIBUTED $98,096.09 TO SUPPORT THESE CLUBS, WHICH COVER A WIDE RANGE OF ACTIVITIES INCLUDING CHESS, CYBER, CYCLING, DRONES, FLYING, GOLF, INTERNATIONAL (INCLUDING LANGUAGE CIRCLES), MAKERS, RUNNING, SAILING, SKYDIVING, SOCCER, VEHICLES AND WINE.THE NPS FOUNDATION & ALUMNI ASSOCIATION RUNS THE NPS ALUMNI ASSOCIATION, ORGANIZING REGIONAL SOCIAL AND NETWORKING EVENTS FOR ITS MEMBERS. IN FY24, THE FOUNDATION SUPPORTED THE FIRST INTERNATIONAL NPS ALUMNI SYMPOSIUM IN SINGAPORE, WHICH FEATURED WELCOME RECEPTIONS AND A FORMAL DINNER HONORING DISTINGUISHED GRADUATES. THE FOUNDATION CURRENTLY HAS OVER 10,000 MEMBERS, INCLUDING MORE THAN 1,770 CURRENT STUDENTS. IN FY24, THE FOUNDATION ALLOCATED $194,861.86 TO SUPPORT THE ALUMNI ASSOCIATION. 1085121 271611 0 RESEARCHTHE FOUNDATION HAS INVESTED $813,510 AND HUNDREDS OF HOURS IN THE DESIGN, DEVELOPMENT, AND HOSTING OF ATHENA FOR PARTNERS, A COLLABORATIVE RESEARCH APPLICATION. ATHENA ENABLES RESEARCHERS, SPONSORS, AND LEADERS ACROSS NPS AND THE NAVAL EDUCATION ENTERPRISE TO ACCESS AND QUERY INFORMATION STORED IN VARIOUS DATABASES USING KEYWORDS, TOPICS OF INTEREST, SERVICE PRIORITIES AND OTHER FILTERS. IN FY24, ATHENA ADDED OVER 250 USERS AND INGESTED OVER 800,000 DEFENSE INFORMATION RESOURCES INTO THE DATABASE.IN FY24, MORE THAN $70,000 WAS AWARDED IN GRANTS TO FACULTY AND STUDENTS. THE FOUNDATION ALSO FUNDS AWARDS AND GRADUATION RECEPTIONS, CONTRIBUTING AN AVERAGE OF $8,000 PER QUARTER AND OVER $32,000 ANNUALLY.IN FY24, THE FOUNDATION SPONSORED THREE RESEARCH FELLOWSHIPS AT NPS, SUPPORTING RESEARCH IN SECURITY STUDIES. THESE FELLOWSHIPS CONTRIBUTED TO CURRICULUM ENRICHMENT AND INTRODUCED FRESH IDEAS INTO NPS CLASSROOMS. IN FY24, THE FOUNDATION PROVIDED $177,604 TO SUPPORT THIS PROGRAM. 800224 0 0 INSTITUTIONIN FY24, THE NPS FOUNDATION INVESTED $228,452 IN THE PLANNING AND DEVELOPMENT OF THE NAVAL INNOVATION CENTER (NIC) AT NPS. THE FOUNDATION REMAINS A COMMITTED PARTNER TO NPS AND THE DEPARTMENT OF THE NAVY TO ADVOCATE FOR AND FUND THE DEVELOPMENT OF THE NIC, WHICH WILL SERVE AS CENTER FOR ADVANCED WARFIGHTING SOLUTIONS UP TO THE CLASSIFIED LEVEL. THE NIC WILL ENHANCE NPS EDUCATION, RESEARCH AND SOLUTION DEVELOPMENT, AND SERVE AS A RESOURCE FOR THE ENTIRETY OF THE DEPARTMENT OF DEFENSE, DEPARTMENT OF THE NAVY AND THE NAVAL RESEARCH AND DEVELOPMENT ENTERPRISE.THE FOUNDATION CONTINUES TO SUPPORT NPS COMMUNITY OUTREACH EVENTS, INCLUDING THE ANNUAL RAPID INNOVATION DESIGN CHALLENGE, WHICH AIMS TO INSPIRE THE NEXT GENERATION OF STEM PROFESSIONALS. THE FOUNDATION ALSO SUPPORTS NPS INSTITUTIONAL ADVANCEMENT WITH A FOCUS ON COMMUNICATION OUTREACH, STRENGTHENING RELATIONSHIPS WITH ALUMNI, DONORS AND EXTERNAL STAKEHOLDERS. THESE EFFORTS INCLUDE ORGANIZING HIGH-VISIBILITY EVENTS, STRATEGIC COMMUNICATION CAMPAIGNS AND BUILDING PARTNERSHIPS WITH INDUSTRY AND GOVERNMENT AGENCIES TO HIGHLIGHT NPS RESEARCH AND ACADEMIC EXCELLENCE. BY FOSTERING THESE RELATIONSHIPS, THE FOUNDATION HELPS ENHANCE NPS' VISIBILITY AND INFLUENCE IN BOTH NATIONAL AND INTERNATIONAL DEFENSE COMMUNITIES. 2188470 1 1 0 0 0 0 0 0 0 0 1 1 0 0 0 1 1 0 0 0 0 0 0 0 1 0 0 0 1 1 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 1 19 0 1 11 1 0 0 0 0 0 0 0 0 0 0 0 0 X 30 30 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 0 1 1 0 CA X RICH PATTERSON 8316562427 PO BOX 2316 MONTEREY CA 93942 CRAIG JOHNSON SECRETARY 2.00 X X 0 0 0 SUSAN MONTGOMERY TREASURER 2.00 X X 0 0 0 HANK PLAIN CHAIRMAN 2.00 X X 0 0 0 MICHAEL MORGAN TRUSTEE 2.00 X 0 0 0 GARY COUGHLAN TRUSTEE 2.00 X 0 0 0 RICHARD ELSTER TRUSTEE 2.00 X 0 0 0 KAREN HARGROVE TRUSTEE 2.00 X 0 0 0 PAUL GREGORY TRUSTEE 2.00 X 0 0 0 DANIEL OLIVER TRUSTEE 2.00 X 0 0 0 DAVID RICE TRUSTEE 2.00 X 0 0 0 ANDREW ROSENBERG TRUSTEE 2.00 X 0 0 0 ANTON MARANO TRUSTEE 2.00 X 0 0 0 WILLIAM TYLER III TRUSTEE 2.00 X 0 0 0 THOMAS PRESCOTT TRUSTEE 2.00 X 0 0 0 LEONARD RIGGS JR TRUSTEE 2.00 X 0 0 0 ROBERT SKINNER TRUSTEE 2.00 X 0 0 0 EVAN ALLEN TRUSTEE 2.00 X 0 0 0 NORMAN WESLEY TRUSTEE 2.00 X 0 0 0 CHRIS FUSSELL TRUSTEE 2.00 X 0 0 0 KENNETH BEALL TRUSTEE 2.00 X 0 0 0 LISA LAPIN TRUSTEE 2.00 X 0 0 0 STEVEN LERMAN TRUSTEE 2.00 X 0 0 0 HANS USLAR TRUSTEE 2.00 X 0 0 0 WILLIAM O'DONNELL JR TRUSTEE 2.00 X 0 0 0 JAMES CAREY TRUSTEE 2.00 X 0 0 0 ROBERT JAUNICH TRUSTEE 2.00 X 0 0 0 MARK KAUFMAN TRUSTEE 2.00 X 0 0 0 ANDREW PAUL TRUSTEE 2.00 X 0 0 0 DAN LYNCH TRUSTEE 2.00 X 0 0 0 JOHN MICEK TRUSTEE 2.00 X 0 0 0 RICHARD PATTERSON CEO 40.00 X 247612 0 141983 TODD LYONS VP, RESEARCH 40.00 X 191721 0 13326 439333 0 155309 2 0 1 0 0 50 1863140 96481 9688797 150890 11648468 213456 213456 2171580 2514243 -342663 -342663 -342663 231090 1863140 806072 -574982 -574982 193303 158433 34870 34870 OTHER INCOME 611710 9555 9555 ADMINISTRATIVE FEES 900099 5368 5368 14923 10994072 14923 0 -669319 30409 30409 241202 241202 422204 147771 21110 253323 933587 700535 70854 162198 45498 33071 3717 8710 54713 33306 5661 15746 87121 58746 6259 22116 38400 38400 232920 27990 134141 70789 1187 1187 26968 18263 8705 58725 13566 9254 35905 5384 5384 62294 34556 27738 11162 11162 22115 22115 SCHOOL FUNDING EXPENSE 567487 567487 BAD DEBT EXPENSE 237557 237557 ALUMNI ASSOCIATION 194862 194862 CLUB EXPENSE 98861 98861 186274 39477 45899 100898 3558930 2188470 426775 943685 709435 1260238 26144 26175 1333922 7360021 1168888 412216 75800 76792 18292 1904324 108374 49171 1795950 6621694 8881897 10003346 19813289 587229 479847 448000 587229 927847 X 7226918 6739101 2189199 12146341 9416117 18885442 10003346 19813289 7435142 903783 1130400 0 X X 0 1 X 1 0 X 4041324 3960466 4538148 3758664 11648468 27947070 47640 23820 48155 52295 55933 227843 4088964 3984286 4586303 3810959 11704401 28174913 5888586 22286327 213904 129841 198012 207132 213456 962345 29137258 205519 0.76490 0.70790 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 2333890 259796 37688 2555998 2152617 221504 40231 2333890 2303797 -100998 50182 2152617 1973241 365995 35439 2303797 1946097 220124 192980 1973241 0.21490 0.37111 0.41399 0 0 55325 19563 35762 57535 46130 11405 1791464 42681 1748783 1795950 INVESTMENTS 8881897 F 8881897 X 12968999 903783 1186333 -76789 2013327 10955672 38400 38400 10994072 3499674 55933 55933 3443741 38400 76789 115189 3558930 PART V, LINE 4: DONOR RESTRICTED ENDOWMENT FUNDS ARE TO BE USED FOR DONOR SPECIFIED USES AND BOARD DESIGNATED ENDOWMENT FUNDS ARE TO BE USED FOR ANY USES APPROVED BY THE BOARD. PART X, LINE 2: AS A TAX-EXEMPT NONPROFIT ORGANIZATION, THE FOUNDATION IS EXEMPT FROM FEDERAL INCOME TAX UNDER SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE (IRC) AND FROM STATE FRANCHISE TAX UNDER CALIFORNIA REVENUE AND TAXATION CODE SECTION 23701(D) BUT IS SUBJECT TO TAXES ON UNRELATED BUSINESS INCOME WHEN EARNED. MANAGEMENT HAS CONSIDERED ITS TAX POSITIONS AND BELIEVES THAT ALL OF THE POSITIONS TAKEN IN ITS FEDERAL AND STATE EXEMPT ORGANIZATION TAX RETURNS ARE MORE-LIKELY-THAN-NOT TO BE SUSTAINED UPON EXAMINATION. THE FOUNDATION'S RETURNS ARE SUBJECT TO EXAMINATION BY FEDERAL AND STATE TAXING AUTHORITIES, GENERALLY FOR THREE AND FOUR YEARS, RESPECTIVELY, AFTER THEY ARE FILED. PART XI, LINE 2D - OTHER ADJUSTMENTS: DIRECT FUNDRAISING EXPENSE -76,789. PART XII, LINE 4B - OTHER ADJUSTMENTS: DIRECT FUNDRAISING EXPENSE 76,789. GOLF TOURNAMENT 1719880 1545190 174690 150890 122786 195837 WINTER BALL 374350 317950 56400 175771 160788 2094230 1863140 231090 150890 298557 356625 806072 -574982 1 1 SCHOLARSHIP AWARDS 35 63598 N/A N/A DEFENSE FELLOWS SCHOLARS 4 177604 N/A N/A PART I, LINE 2: BOARD APPROVES GRANT AMOUNTS EACH YEAR. GRANTS ARE ISSUED TO ORGANIZATIONS BASED ON THE FOUNDATION'S PROGRAM SERVICES AND TO INDIVIDUALS BASED ON DONOR REQUIREMENTS. X X 0 0 0 0 0 0 0 0 0 RICHARD PATTERSON CEO 240612 0 7000 0 0 0 15162 0 126821 0 389595 0 0 0 TODD LYONS VP, RESEARCH 191721 0 0 0 0 0 10098 0 3228 0 205047 0 0 0 X TRIPS/VACATIONS 9 105570 FMV X WINE 8 43220 FMV X GOLF MEMBERSHIP 1 1200 FMV X CUTTING BOARD 1 500 FMV X DINNERS 8 400 FMV 0 0 0 0 FORM 990, PART VI, SECTION A, LINE 1A THE BOARD MAY, BY A MAJORITY OF THE TRUSTEES THEN IN OFFICE, PROVIDED THAT A QUORUM IS PRESENT, DESIGNATE ONE OR MORE COMMITTEES, EACH CONSISTING OF TWO OR MORE TRUSTEES, TO SERVE AT THE PLEASURE OF THE BOARD. MEMBERSHIP OF TRUSTEES IN COMMITTEES IS DETERMINED BY THE BOARD CHAIR. BOARD APPROVAL WILL BE REQUIRED TO INVITE ANY NON-BOARD MEMBER TO SERVE ON ANY BOARD COMMITTEE TO WHICH THE BOARD DELEGATES AUTHORITY TO MAKE AND EXECUTE DECISIONS WITHOUT PRIOR BOARD APPROVAL. PERSONS WHO ARE NOT TRUSTEES MAY SERVE ON COMMITTEES NOT HAVING THE PREVIOUSLY REFERENCED DELEGATED AUTHORITY AT THE DISCRETION OF THE COMMITTEE CHAIR. COMMITTEES SHALL HAVE ALL THE AUTHORITY OF THE BOARD WITH RESPECT TO MATTERS WITHIN THEIR AREA OF ASSIGNED RESPONSIBILITY, EXCEPT THAT NO COMMITTEE, REGARDLESS OF BOARD RESOLUTION, MAY: (A) TAKE ANY FINAL ACTION ON ANY MATTER WHICH, UNDER THE CALIFORNIA NONPROFIT CORPORATION LAW, ALSO REQUIRES APPROVAL OF THE TRUSTEES. (B) FILL VACANCIES ON THE BOARD OF TRUSTEES OR ON ANY COMMITTEE WHICH HAS BEEN DELEGATED ANY AUTHORITY OF THE BOARD. (C) AMEND OR REPEAL THE BYLAWS OR ADOPT NEW BYLAWS. (D) AMEND OR REPEAL ANY RESOLUTION OF THE BOARD OF TRUSTEES WHICH BY ITS EXPRESS TERMS IS NOT AMENDABLE OR REPEALABLE. (E) APPOINT ANY OTHER COMMITTEES OF THE BOARD OF TRUSTEES OR THE MEMBERS OF THOSE COMMITTEES. (F) APPROVE ANY TRANSACTION (I) TO WHICH THE FOUNDATION IS A PARTY AND IN WHICH ONE OR MORE TRUSTEES HAVE A MATERIAL FINANCIAL INTEREST; OR (II) BETWEEN THIS FOUNDATION AND ONE OR MORE OF ITS TRUSTEES OR BETWEEN THE FOUNDATION AND ANY PERSON IN WHICH ONE OR MORE OF ITS TRUSTEES HAVE A MATERIAL FINANCIAL INTEREST. FORM 990, PART VI, SECTION B, LINE 11B THE AUDIT/FINANCE COMMITTEE SHALL HAVE THE RESPONSIBILITY FOR REVIEWING THE FOUNDATION'S FORM 990 (INCLUDING ALL PERTINENT SCHEDULES). AFTER THE FORM 990 HAS BEEN REVIEWED BY THE AUDIT/FINANCE COMMITTEE AND ANY REVISIONS COMMUNICATED TO THE PREPARER, IT WILL BE CIRCULATED TO THE FULL BOARD FOR REVIEW AND COMMENTS PRIOR TO FILING WITH THE IRS. FORM 990, PART VI, SECTION B, LINE 12C THE FOUNDATION REQUIRES ALL DIRECTORS, ADVISORS, VOLUNTEERS AND STAFF MEMBERS TO ANNUALLY COMPLETE A CONFLICT OF INTEREST DISCLOSURE FORM. ANY POTENTIAL CONFLICTS ARE REVIEWED BY THE EXECUTIVE COMMITTEE, WHICH ENSURES THAT APPROPRIATE ACTIONS ARE TAKEN TO MANAGE OR RESOLVE CONFLICTS. EACH DIRECTOR, ADVISOR, VOLUNTEER, OR STAFF MEMBER SHALL ANNUALLY SIGN A STATEMENT WHICH AFFIRMS SUCH PERSON: 1. HAS RECEIVED A COPY OF THE CONFLICT OF INTEREST POLICY, 2. HAS READ AND UNDERSTANDS THE POLICY, 3. HAS AGREED TO COMPLY WITH THE POLICY, 4. LISTS ALL ACTUAL AND APPARENT CONFLICTS OF INTEREST, AND 5. UNDERSTANDS THE FOUNDATION IS CHARITABLE ORGANIZATION AND IN ORDER TO MAINTAIN ITS FEDERAL TAX EXEMPTION IT MUST ENGAGE PRIMARILY IN ACTIVITIES WHICH ACCOMPLISH ONE OR MORE OF ITS TAX-EXEMPT PURPOSES. IF AT ANY TIME DURING THE YEAR THE INFORMATION IN THE ANNUAL DISCLOSURE STATEMENT CHANGES MATERIALLY, THE DIRECTOR, ADVISOR, VOLUNTEER, OR STAFF MEMBER SHALL DISCLOSE SUCH CHANGE AND REVISE THE ANNUAL DISCLOSURE FORM. THE EXECUTIVE COMMITTEE SHALL REGULARLY AND CONSISTENTLY MONITOR AND ENFORCE COMPLIANCE WITH THIS POLICY BY REVIEWING ANNUAL DISCLOSURE STATEMENTS AND TAKING SUCH OTHER ACTIONS AS ARE NECESSARY FOR EFFECTIVE OVERSIGHT. IF AN APPEARANCE OF IMPROPRIETY OR ACTUAL CONFLICT OF INTEREST EXIST, APPROPRIATE ACTIONS WILL BE TAKEN, WHICH WILL VARY DEPENDING UPON THE PARTICULAR FACTS. THE DIRECTOR, ADVISOR, VOLUNTEER, OR STAFF MEMBER INVOLVED IN THE CONFLICT SITUATION MUST WORK COOPERATIVELY WITH THE FOUNDATION TO ACHIEVE A RESOLUTION OF THE CONFLICT ISSUES IN THE BEST INTERESTS OF THE FOUNDATION. DEPENDING UPON THE NATURE OF THE CONFLICT, THIS MAY INCLUDE THE DIRECTOR, ADVISOR, VOLUNTEER, OR STAFF MEMBER BEING REMOVED FROM A POSITION OF DECISION-MAKING AUTHORITY WITH RESPECT TO THE CONFLICT SITUATION OR OTHER MORE SERIOUS ACTIONS. FORM 990, PART VI, SECTION B, LINE 15 DETERMINING REASONABLE COMPENSATION -THE FOUNDATION SHALL SATISFY THE LEGAL PRESUMPTION OF REASONABLENESS SET FORTH IN THE INTERNAL REVENUE CODE SECTION 4958 REGARDING INTERMEDIATE SANCTIONS, BY FOLLOWING THESE STEPS WHEN DETERMINING THE ANNUAL COMPENSATION FOR ANY FOUNDATION INSIDER: -COMPENSATION ARRANGEMENT SHALL BE APPROVED IN ADVANCE BY INDEPENDENT MEMBERS OF THE EXECUTIVE COMMITTEE. THIS GROUP SHALL BE COMPOSED OF PERSONS WHO DO NOT HAVE A CONFLICT OF INTEREST WITH RESPECT TO THE COMPENSATION ARRANGEMENT. THE MEMBERS OF THE GROUP CAN CHANGE DEPENDING UPON THE PERSON WHOSE COMPENSATION IS UNDER REVIEW. -BEFORE MAKING THE REASONABLE COMPENSATION DETERMINATION, THE EXECUTIVE COMMITTEE GROUP SHALL RELY UPON COMPARABILITY DATA (COMPARABILITY DATA INCLUDES COMPENSATION PAID BY COMPARABLE AND SIMILARLY SITUATED ENTITIES) IN DECIDING WHETHER TO APPROVE THE COMPENSATION. -THE EXECUTIVE COMMITTEE MEMBERS SHALL CONTEMPORANEOUSLY DOCUMENT IN WRITING ITS BASIS FOR MAKING ITS REASONABLE COMPENSATION DETERMINATION. THE FOUNDATION UTILIZES A WORKSHEET THAT IS COMPLETED BY THE GROUP WHEN IT CONVENES, AND THE WORKSHEET SHALL SERVE AS THE REQUIRED WRITTEN DOCUMENTATION FOR THE FOLLOWING: -TERMS OF THE APPROVED COMPENSATION AND THE DATE APPROVED. -MEMBERS OF THE EXECUTIVE COMMITTEE GROUP PRESENT DURING DISCUSSIONS ON THE COMPENSATION AMOUNT, THOSE WHO VOTED AND HOW THEY VOTED. -DESCRIPTION OF COMPARABILITY DATA OBTAINED AND RELIED UPON; HOW THE DATA WAS OBTAINED. -ANY ACTIONS BY AN EXECUTIVE COMMITTEE MEMBER HAVING A CONFLICT OF INTEREST (E.G., DISCLOSURE OF CONFLICT OF INTEREST; RECUSAL FROM THE DISCUSSION) -THE REASONABLE COMPENSATION DISCUSSION SHALL BE UNDERTAKEN BY THE EXECUTIVE COMMITTEE MEMBERS ANNUALLY; THE INDIVIDUAL WHOSE COMPENSATION IS BEING DISCUSSED SHALL NOT BE PRESENT DURING SUCH DISCUSSIONS. THE ACTIONS TAKEN BY THE EXECUTIVE COMMITTEE SHALL BE PRESENTED FOR FULL BOARD OF TRUSTEES APPROVAL AT ITS ANNUAL MEETING IN NOVEMBER. -THE BOARD DETERMINES AND APPROVES THE COMPENSATION OF THE EXECUTIVE DIRECTOR. THE INDIVIDUAL WHOSE COMPENSATION IS BEING DETERMINED IS NOT INCLUDED IN THE APPROVAL PROCESS. FORM 990, PART VI, SECTION C, LINE 19 THE GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS ARE AVAILABLE TO THE PUBLIC UPON REQUEST. FORM 990, PART XII, LINE 2C: THE PROCESS FOR OVERSIGHT AND SELECTION OF AN INDEPENDENT ACCOUNTANT HAS NOT CHANGED FROM THE PRIOR YEAR.