2011-11-15T09:12:36-07:00 2011-06-30 990 2010-07-01 351019477 Heifer Project International HEIF 5019072600 1 World Avenue Little Rock AR 722022863 Robert Bloom 5019072600 2011-11-14 2010 2016-02-24 21:20:13Z Heifer International Pierre Ferrari 1 World Avenue Little Rock AR 722022863 130326976 0 X WWW.HEIFER.ORG X 1953 AR Since 1944, heifer has helped 15.5 million families in more than 125 countries move toward greater self-reliance through the gifts of livestock, plants and training in environmentally-sound agriculture. 19 19 322 1000 0 0 115047381 124772558 1568905 1472117 191228 39300 1489785 1312194 118297299 127596169 59217275 60963887 0 0 18873207 20236280 1097600 1269753 23847691 34466932 35136588 113655014 117606508 4642285 9989661 161735482 180139760 24262927 23496352 137472555 156643408 The organization's mission is to work with communities to end hunger and poverty and care for the earth. 0 0 70691818 5574733 0 International Development: Sustainability: Heifer provides gifts of food and income-producing livestock, as well as education and information about their care and feeding, to families and communities in need so that they may become self-reliant and establish sustainable livelihoods with enhanced access to food and income. Heifer works in partnership with local organizations and each family is expected to Pass on the Gift of livestock and knowledge through the gift of the first female offspring and training to another family in need, multiplying the gift and thus benefiting entire communities. 14352074 0 1472117 International Development Programs: Education: Heifer works to educate people of all ages in the United States and elsewhere around the world about the root causes, the contributors to and the challenges of global hunger and poverty, and to teach them how to become part of the solution. Heifer learning centers empower people to experience, through learning, what it feels like to be poor and hungry and provides programs and lessons that inspire them to take some action toward ending hunger and poverty. 1093552 0 0 International Development: Agro-ecology: Heifer provides gifts of seeds, grains and trees and teaches farmers and families geographically appropriate and resource-sound agricultural practices that enhance and increase crop productivity and are good for the environment. Heifer works with local organizations to increase farmer's access to markets to improve economic benefit and increase personal gain from what they grow. This allows farmers to enhance food security and sovereignty, increase local food options and availability and provide safe and affordable locally grown foods. Heifer's work is guided in its approach by its 12 Cornerstones, including Passing on the Gift, accountability, sharing and caring, gender and family focus, genuine need and justice and full participation. All contribute to Heifer's values-based and holistic approach to giving people a hand up, not a hand out to a better, richer life. 0 0 0 86137444 1 1 0 0 0 0 0 0 0 0 1 0 0 1 1 1 1 1 0 1 1 1 0 1 1 0 0 1 0 1 1 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 0 1 343 0 1 322 1 0 1 AL AM BL BR CA CB CM GG GH GT HA HO ID IN KE MI MX MZ NP NU PE PL RO RP RS RW SG SL TH TZ UG UP VM ZA ZI 0 0 0 0 0 0 0 0 X 19 19 0 0 1 0 0 1 0 1 1 0 0 1 1 1 1 1 1 1 0 0 AK AL AR AZ CA CO CT DC DE FL GA HI IA ID IL IN KS KY LA MA MD ME MI MN MO MS MT NC ND NE NH NJ NM NV NY OH OK OR PA RI SC SD TN TX UT VA VT WA WI WV WY X X Robert Bloom 5019072600 1 World Avenue Little Rock AR 72202 Douglas Smith 1 X 0 0 0 Dr Donald Hammond 1 X 0 0 0 Charles Stewart 50 X X 180558 0 23416 Efrain Diaz Arrivillaga 1 X 0 0 0 Adrew Bartlett 1 X 0 0 0 Kathleen Campanella 1 X 0 0 0 Fu Changxiu 1 X 0 0 0 Norman Doll 1 X 0 0 0 Ladislav Hetenyi Phd 1 X 0 0 0 Franklin Ishida 1 X 0 0 0 Skirma Kondratas 1 X 0 0 0 Steve Mondora 1 X 0 0 0 Dr Johnson Nkuuhe 1 X 0 0 0 Susan Sanders 1 X 0 0 0 Gary Tabasinske 1 X 0 0 0 David Tracey 1 X 0 0 0 Marcia Williams 1 X 0 0 0 Julia Hall Wilson DVM 1 X 0 0 0 Arlene Withers 1 X 0 0 0 Susan B Fulton 1 X 0 0 0 June Kim 1 X 0 0 0 Pierre Ferrari 50 X 43612 0 5932 Jo Luck 50 X 148186 0 20538 Steve Denne 50 X 194161 0 33563 Robert Bloom 50 X 0 0 0 James Neal 50 X 164534 0 21954 Steve Stirling 50 X 163091 0 30485 James DeVries 50 X 158671 0 26290 Sahr Lebbie 50 X 114465 0 25275 Mahendra Lohani 50 X 106572 0 24460 Oscar Castaneda 50 X 105689 0 20732 Leesa Ferguson 50 X 100373 0 11959 Deborah Keene 50 X 100796 0 15313 Pietro Turilli 50 X 32126 0 5728 Cathy Sanders 50 X 40583 0 8602 Jesus Pizarro Rodriguez 50 X 73086 0 12488 Thomas Peterson 50 X 106413 0 23270 1832916 0 310005 11 0 1 0 Premier Staffing 10901 Financial Centre Parkway Little Rock AR 72211 Provides temporary staffing 816486 Craver Mathews Smith Co 4121 Wilson Blvd Arlington VA 22203 Fundraising Consultant 695250 Donor Services Group LLC 6715 Sunset Blvd Los Angeles CA 90064 Consults on direct response advertising 576061 Blackbaud 2000 Daniel Island Drive Charleston SC 29492 Fundraising software consulting 517272 Deloitte and Touche LLP PO Box 7247-6446 Philadelphia PA 19170 Professional Accounting and Audit 504332 21 48628 0 35364 0 441773 124246793 2449748 124772558 Education Revenue 611710 981845 981845 0 0 Educational Study Tours 611710 458023 458023 0 0 Conference Center 611710 32249 32249 0 0 0 0 0 0 1472117 31306 0 0 31306 0 0 0 0 0 0 0 0 313881 0 0 0 313881 0 313881 0 0 313881 2295646 127220 2080247 334625 215399 -207405 7994 0 0 7994 34947 35364 8563 26384 0 26384 0 0 0 0 0 0 611233 307372 303861 0 0 303861 International Misc Revenue 900099 567940 567940 0 0 Livestock and Agricultural 110000 57907 57907 0 0 42221 42221 0 0 668068 127596169 2140185 0 683426 1419064 1419064 0 0 59544823 59544823 0 0 2272094 1185288 687945 398861 0 0 0 0 13589935 7846281 2422300 3321354 1442218 876331 240028 325859 1825014 1042387 357534 425093 1107019 623404 211629 271986 0 0 0 0 357125 160199 151524 45402 954603 639823 314780 0 0 0 0 0 1269753 1269753 0 0 0 0 6390189 2262545 518323 3609321 3163612 408274 72488 2682850 399033 274597 66306 58130 1135331 175055 604748 355528 0 0 0 0 1477436 851167 292673 333596 2157325 1588149 201011 368165 0 0 0 0 273136 175325 33759 64052 659408 0 659408 0 0 0 0 0 3190186 1794315 362089 1033782 409869 248306 94787 66776 Printing and other media expenses 6592839 2271787 62717 4258335 Postage, shipping and freight 5846494 1839292 39978 3967224 Bank and Credit Card Fees 898524 98838 35941 763745 Communication 460938 253099 88811 119028 Equipment 309677 205251 19418 85008 460863 353844 83176 23843 117606508 86137444 7621373 23847691 X 10990008 4432146 84455 6473407 12256207 20347215 35998208 37795352 752334 1369732 3049549 3655964 0 0 0 0 0 0 722892 756961 1176573 631983 79454559 21935879 59953991 57518680 1705734 152781 0 0 0 0 0 46119994 57911092 161735482 180139760 5511708 5383542 0 0 0 0 18380000 17430000 0 0 0 0 0 0 0 0 371219 682810 24262927 23496352 X 63102238 65491562 18725077 31662989 55645240 59488857 137472555 156643408 161735482 180139760 X 9989661 9181192 X 0 1 1 X 0 X 109693083 134198293 102831459 115047381 124772557 586542773 0 0 0 0 0 0 0 0 0 0 0 0 109693083 134198293 102831459 115047381 124772557 586542773 42850000 543692773 2121550 785383 721382 472442 345187 4445944 1111 -2957 930 1950 0 1034 1641160 1643001 2767391 2768216 2685829 11505597 602495348 9352494 0.90240 0.94619 X Program Service Revenue $1,472,117 Gain on Securities Sales $215,399 Special Events $26,384 Merchandise Net Income $303,861 Miscellaneous Income $668,068 RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 0 11973520 11973520 0 45181022 7470464 37710558 0 64023 24275 39748 0 12086222 8649933 3436289 0 10149772 5791207 4358565 57518680 INTEREST IN NET ASSETS OF HEIFER INTERNATIONAL FOUNDATION 57911092 57911092 0 REFUNDABLE ADVANCES 682810 682810 127596169 117606508 9989661 114833 0 0 0 9066359 9181192 19170853 137163076 114833 0 0 9452074 9566907 127596169 0 0 0 127596169 117606508 0 0 0 0 0 117606508 0 0 0 117606508 SchD_P10_S00_L02 Schedule D, Part X, Line 2 In June, 2006, the FASB issued guidance, Accounting for Uncertainty in Income Taxes, now codified with ASC Topic 740, Income Taxes providing guidance for recognizing and measuring tax positions in a tax return that may affect amounts reported in the financial statements. The Organization adopted this guidance for the fiscal year ended June 30, 2010 and noted no uncertain tax positions requiring adjustment to the financial statements to comply with the provisions of this guidance. SchD_P11_S00_L08 Schedule D, Part XI, Line 8 Change in interest in net assets of Heifer International Foundation $9,452,074 Foreign currency translation adjustment ($385,715) SchD_P12_S00_L02d Schedule D, Part XII, Line 2d Change in interest in net assets of Heifer International Foundation 1 Sub-Saharan Africa 12 318 Program Services Heifer provides gifts of food and income producing livestock, as well as education and information about their care and feeding. 21600145 East Asia and the Pacific 6 135 Program Services Heifer provides gifts of food and income producing livestock, as well as education and information about their care and feeding 7326819 Europe (including Iceland and Greenland) 9 53 Program Services Heifer provides gifts of food and income producing livestock, as well as education and information about their care and feeding 4350598 North America (including Canada and Mexico, but not the United States) 2 11 Program Services Heifer provides gifts of food and income producing livestock, as well as education and information about their care and feeding 1903817 Russia and the newly independent States 2 37 Program Services Heifer provides gifts of food and income producing livestock, as well as education and information about their care and feeding 3438256 South America 4 53 Program Services Heifer provides gifts of food and income producing livestock, as well as education and information about their care and feeding 7308515 South Asia 4 49 Program Services Heifer provides gifts of food and income producing livestock, as well as education and information about their care and feeding 4489255 Central America and the Caribbean 4 31 Program Services Heifer provides gifts of food and income producing livestock, as well as education and information about their care and feeding 3552685 43 687 53970090 Europe (including Iceland and Greenland) The purpose of the grant is to provide general support for institutional strengthening of Heifer partner organization 157000 Wire Transfer 0 Fair Market Value East Asia and the Pacific The purpose of grant is to provide general support for institutional strengthening of Heifer partner organization 82700 Wire Transfer 0 Fair Market Value Europe (including Iceland and Greenland) The purpose of grant is to provide general support for institutional strengthening of Heifer partner organization 375000 Wire Transfer 0 Fair Market Value Europe (including Iceland and Greenland) The purpose of grant is to provide general support for institutional strengthening of Heifer partner organization 200000 Wire Transfer 0 Fair Market Value East Asia and the Pacific The purpose of grant is to provide general support for institutional strengthening of Heifer partner organization 300000 Wire Transfer 0 Fair Market Value North America (including Canada and Mexico, but not the United States) The purpose of grant is to provide general support for institutional strengthening of Heifer partner organization 23771 Wire Transfer 0 Fair Market Value Sub-Saharan Africa East Africa Dairy Development subcontractor 2797619 WIre Transfer 0 Fair Market Value Sub-Saharan Africa Grant for East Africa Dairy Development subcontractor 403584 Wire Transfer 0 Fair Market Value Sub-Saharan Africa Grant for East Africa Dairy Development subcontractor 439013 Wire Transfer 0 Fair Market Value Sub-Saharan Africa Grant for East Africa Dairy Development subcontractor 796046 Wire Transfer 0 Fair Market Value 9 1 1 0 0 0 0 0 SchF_P01_S00_L02 Schedule F, Part I, Line 2 Heifer Project International (HPI) monitors grants in accordance with the letter of agreement between HPI and grantee. The grantee is required to submit financial and progress reports every year according to a format provided by HPI. The grantee shall maintain separate financial statements and records for the activities kept in accordance with generally accepted accounting principles. Written receipts for all expenses and other supporting documents are required to be kept on file for at least six years after the end of the grant period. SchF_P04_S00_L01 Schedule F, Part IV, Line 1 Heifer International is not required to file Form 926 X X X X X X X 1 CRAVER MATHEWS SMITH 1900 Campus Commons Dr Reston VA 20191 CONSULTS WITH HEIFER INTERNATIONAL IN-HOUSE MARKETING STAFF ON DIRECT RESPONSE MARKETING STRATEGIES 0 26787580 693000 26094580 DONOR SERVICES GROUP LLC 6715 SUNSET BLVD LOS ANGELES CA 90064 CONSULTS ON TELEMARKETING AND TELEVISION DIRECT RESPONSE ADVERTISING 0 517462 536114 -18652 MISSION ADVANCEMENT PARTNERS 4808 SCOTER LANE MCKINNEY TX 75070 CONSULTS ON CAPITAL CAMPAIGN STRATEGY 0 0 38000 -38000 27305042 1267114 26037928 All States CHICAGO QUILT AUCTION 61120 35364 25756 0 0 0 0 0 0 HARVEST FESTIVAL 7431 0 7431 0 0 0 0 0 0 0 68551 35364 33187 0 0 0 0 0 0 0 33187 1 Angelic Organics Learning Center 6400 S Kimbark Chicago IL 60637 364288904 501(c)(3) 375578 0 FMV Build Capacities of limited-resource individuals and community-based organizations in Rockford and Chicago to develop sustainable projects that increase self-reliance, improve quality of life and shape a healthy and just local food system Third Sector New England Inc 89 South Street Boston MA 02111 042261109 501(c)(3) 148089 0 FMV Encourage, educate and empower New London's residents to participate in the transformation of their food systems to be healthful, universally accessible and sustainable Northeast Organic Farming Association New York 249 Highland Avenue Rochester NY 14620 030259137 501(c)(3) 110164 0 FMV Creating a sustainable regional food system. Cawaco Resource Conservation and Development 1731 1st Avenue Suite 200 Birmingham AL 35203 631027283 501(c)(3) 100272 0 FMV Support rural grassroots organization to plan and implement food systems projects Cedar Grove United Methodist Church PO Box 138 Cedar Grove NC 27231 562007642 92720 0 FMV Funds socially-disadvantaged youth in a community supported agriculture gardening program. Rural Coalition 1012 14th Street NW Suite 1100 Washington DC 20005 521203899 501(c)(3) 91250 0 FMV Enable the National Immigrant Farming Initiative to become a farmer-centered organization that strengthens the capacity of immigrants, refugees, and farm workers to farm successfully, advance sustainable farming and food systems, and promote inclusion for themselves in US agriculture and food systems. Janus Youth Programs 707 NE Couch Street Portland OR 97232 237345990 501(c)(3) 81700 0 FMV Urban agriculture program focused on hunger reduction, employment and economic independence Rural Resources 2870 Holly Creek Road Greenville TN 37745 621546161 501(c)(3) 53629 0 FMV Educating local youth in the preservation and improvement of agricultural land, the preservation of rural heritage, and developing a locally sustainable system of producing and marketing agricultural products. Tri-County Community Coalition 500 South Idaho Street Pine Bluff AR 71601 000000000 49507 0 FMV Heifer and the Tri County Community Coalition will involve 744 families between Jefferson, Lincoln, and Grant counties in various agriculture-training activities in this project. Those families involved in gardening will raise and harvest vegetables and flowers, sell through farmer markets and local grocers and share produce with others. They will also increase their income through the value-added processing and marketing of vegetables and livestock. Participants will also learn about nutrition and food preparation through the Expanded Food and Nutrition Education Program (EFNEP), and receive training and education that introduces basic horticulture practices and animal husbandry, promotes entrepreneurship in agro-business enterprise and teaches leadership skills. Kanenhi io lonkwaienthonhakie PO Box 205 Akwesasne NY 13655 000000000 44930 0 FMV Assisting families in Mohawk community to raise buffalo, beef cattle, pigs, poultry and a variety of traditional crops; to improve farmers market, build awareness in the community on the importance of food sovereignty, and bring back Native traditions that support improved nutrition. Huerto de la Familia - Family Garden 3575 Donald Street Portland OR 97405 043765788 501(c)(3) 38955 0 FMV Cultivate community integration and economic self-sufficiency by offering opportunities and training in organic gardening, farming and the development of food-based micro-enterprises. Delta Sprouts PO Box 603 Lake Village AR 71653 010911382 38915 0 FMV Investing in livestock, learning centers and farmers markets in three counties in SE Arkansas which struggle with high poverty, poor nutrition, unemployment, decreased population from economic flight, and limited jobs due to lack of education. McIntosh County Sustainable Environment and Economic Development PO Box 2355 Darien GA 31305 582556194 501(c)(3) 38125 0 FMV Cultivate the assets of youth and local growers as central determiners in the exploration, planning and economic viability of local food systems toward moving people out of poverty. Red Bird Mission 70 Queendale Center Beverly KY 40913 610674373 501(c)(3) 37117 0 FMV Provide impoverished families in the Appalachian region of SE Kentucky with livestock, education, opportunities, and training for livestock enterprises. Winegrass Farmers Cooperative 6742 Goat Hill Road Samson AL 36340 113707241 33150 0 FMV Connect youth to community, land, good food, and opportunities through farming. CDC 5812 INC PO Box 26086 New Orleans LA 70126 208080177 501(c)(3) 25675 0 FMV Use gardening and other agricultural experiences to provide academic, leadership and life skills to inner city youth The South Rankin County Farmers Association AAL 133 East Petros Rd Pearl MS 39208 000000000 12525 0 FMV Support 35 minority and limited resource farmers in rural Rankin County by re-establishing diversified livestock and fruits and vegetables. Project members will receive genetically improved goats, chickens, worms, hogs, beef cattle and bees. Through youth programs, adolescents will have an opportunity to raise and show livestock and vegetables in conjunction with the 4-H program. Adult participants will focus on increasing marketing outlets, improving the environment and protecting water and soil resources. New Community Farming Cooperative PO Box 206 Carson MS 39427 000000000 10400 0 FMV Improve the income and nutrition of 22 families by promoting minority land retention and fostering community food security. Participating families will receive 50 heifers, 6 bulls, 35 goat nannies, 5 goat billies, 300 chickens, 15 gilts, 2 boars, 20 bee hives, 1,000 catfish fingerlings and 300 blueberry plants. New Community Co-op members will provide youth and first-time livestock farmers with an opportunity to begin raising and marketing genetically improved livestock and produce. Training will include techniques in sustainable agriculture, farm diversification and soil and water conservation. Clinch Valley Beekeepers Association PO Box 736 Sneedville TN 37869 000000000 6090 0 FMV To educate and promote the benefits of beekeeping to new beekeepers. 11 8 SchI_P01_S00_L02 Schedule I, Part I, Line 2 Heifer Project International (HPI) monitors grants in accordance with the letter of agreement between HPI and grantee. The grantee is required to submit financial and progress reports every year according to a format provided by HPI. The grantee shall maintain separate financial statements and records for the activities kept in accordance with generally accepted accounting principles. Written receipts for all expenses and other supporting documents are required to be kept on file for at least six years after the end of the grant period. X X X X X 0 0 0 0 0 0 0 0 0 Steve Denne 194161 0 0 0 0 0 0 0 33563 0 227724 0 0 0 Charles Stewart 180558 0 0 0 0 0 0 0 23416 0 203974 0 0 0 James Neal 164534 0 0 0 0 0 0 0 21954 0 186488 0 0 0 Steve Stirling 163091 0 0 0 0 0 0 0 30485 0 193576 0 0 0 James DeVries 158671 0 0 0 0 0 0 0 26290 0 184961 0 0 0 Jo Luck 148186 0 0 0 0 0 0 0 20538 0 168724 0 Thomas Peterson 106413 0 0 0 0 0 0 0 23270 0 129683 0 0 0 City of Little Rock Arkansas(Heifer Project International) Public Facilities Board 800311736 2008-12-05 5700000 For the purpose of financing and refinancing capital improvements 0 0 0 City of Little Rock Arkansas (Heifer Project International) Public Facilities Board 800311736 2008-12-05 4300000 For the purpose of financing and refinancing capital improvements 0 0 0 City of Little Rock Arkansas (Heifer Project International) Public Facilities Board 800311736 2009-02-02 9300000 For the purpose of financing and refinancing capital improvements 0 0 0 570000 0 5700000 0 0 0 33640 0 0 5666360 0 0 2010 0 0 1 1 410000 0 4300000 0 0 0 25377 0 0 4274623 0 0 2011 0 0 1 1 890000 0 9300000 0 0 0 30903 0 0 8068971 0 1200126 0 0 0 1 0 0 0 0 1 0 0 0 1 0 0 0 0 1 0 0 0 1 0 0 0 0 1 0 0 0 1 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 X 294 2080247 Value at time of receipt X Livestock 4 360780 Fair Market Value X Hay 1 2768 Fair Market Value X Miscellaneous 6 5953 Fair Market Value 0 0 1 0 F990_P06_S0A_L04 Form 990, Part VI, Section A, Line 4 Resolved to modify Bylaw, Article III, Board of Directors: Section 3.2 Membership of the Board of Directors, as follows: The Board of Directors shall include: A. Five (5) Covenant Agency Directors; one appointed by the Church of the Brethren, and four appointed by the Covenant Agency Committee; and B. Seven (7) At-Large Directors who shall hold board specific skill sets; and C. Five (5) At-Large Directors one of whom shall reside in each of the following international program areas of the corporation: Africa, Latin America/Caribbean, Asia/South Pacific, North America, and Central Eastern Europe, and D. The Chair and Vice-Chair of Heifer International Foundation. F990_P06_S0A_L07a Form 990, Part VI, Section A, Line 7a According to the articles of incorporation and bylaws of Heifer Project International, the Board of Directors shall include "Five Covenant Agency Directors; one appointed by the Church of the Brethren". F990_P06_S0B_L11a Form 990, Part VI, Section B, Line 11a An initial draft of Heifer International's Form 990 was completed by its internal staff, with assistance from an external accounting and advisory firm engaged to provide a third party review. The draft was then circulated for further review, via electronic mail, to a group of four (4) Heifer International Board Members. A telephonic meeting was held on November 10, 2011, during which Heifer International's internal staff presented the draft to the group, and accepted comments and questions. While this group did review and provide comments and questions, Heifer International's Board relied upon Heifer International's internal staff to properly complete the Form 990. Heifer International staff then made adjustments and modifications to the draft and, with continuing assistance from the external firm, finalized its Form 990. Once the Form 990 was final it was delivered to all Heifer International Board Members via electronic mail, and then e-filed with the Internal Revenue Service. F990_P06_S0B_L12c Form 990, Part VI, Section B, Line 12c Heifer has had a code of conduct in place since March of 2000 for its Board of Directors, and the code of conduct contains a conflict of interest section. Heifer has had a conflict of interest policy in place for its employees since December of 2001. Board members are required to annually disclose interests that could give rise to conflicts. Employees are encouraged to report suspected conflicts of interest to their supervisors or to human resources. In addition, Heifer provides an anonymous confidential reporting outlet for use in reporting behavior or activities that appear to violate heifer policies. Both the board and senior management address conflicts of interest on a case-by-case basis as they arise. F990_P06_S0B_L15 Form 990, Part VI, Section B, Line 15 In accordance with governance policies and procedures, the president and CEO's performance is reviewed annually. Merit increases, base salary adjustments and or bonuses are considered as part of that review and monitoring process. The Heifer Board of Directors utilizes an independent analysis conducted by an outside consulting firm to assist in the analysis and subsequent recommendations for compensation adjustments. The approach used by the consulting firm utilizes market data obtained from two highly regarded national compensation surveys of not for profit organizations and data on total cash compensation for CEOs of nine organizations with comparable mission, scope and operating budget based on information obtained from IRS form 990s. Each member of the Heifer Board of Directors has the opportunity to complete and submit a performance evaluation form for the CEO. The results are compiled and reviewed with the CEO by the executive committee of the board during their spring meeting. The executive committee then presents, for approval, its findings and recommendations to the full Board of Directors during the spring board meeting. These findings and recommendations include adjustments to compensation if warranted and supported by organizational funding availability and independent market analysis. F990_P06_S0C_L19 Form 990, Part VI, Section C, Line 19 Audited financial statements are available upon request; other select documents are made available for inspection at Heifer Project International headquarters in Little Rock, Arkansas. F990_P11_S00_L05 Form 990, Part XI, Line 5 Change in interest in net assets of Heifer International Foundation $9,452,074 Foreign currency translation adjustment ($385,715) Unrealized gain on investments $114,833