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FORM 990, PART VI, SECTION B, LINE 11 | THE AUDIT COMMITTEE REVIEWS THE FORM 990 AFTER WHICH IT IS REVIEWED BY THE TRUSTEES BEFORE FILING. |
FORM 990, PART VI, SECTION B, LINE 12C | A CONFLICT OF INTEREST FORM IS COMPLETED BY EACH FOUNDATION TRUSTEE AT THE BEGINNING OF EACH FISCAL YEAR. |
FORM 990, PART VI, SECTION B, LINE 15 | THE COMPENSATION OF CERTAIN EMPLOYEES OF THE AMERICAN ASSOCIATION OF PETROLEUM GEOLOGISTS (AAPG) IS ALLOCATED TO THE AMERICAN ASSOCIATION OF PETROLEUM GEOLOGISTS FOUNDATION (AAPGF) BASED ON THEIR TIME SPENT ON FOUNDATION MATTERS. THE AAPG EXECUTIVE DIRECTOR'S COMPENSATION IS REVIEWED AND ESTABLISHED BY THE AAPG EXECUTIVE COMMITTEE. BACKGROUND INFORMATION FROM NATIONAL AND REGIONAL SALARY SURVEYS ARE PROVIDED TO THE EXECUTIVE COMMITTEE. THE AAPGF TRUSTEES ARE MADE AWARE OF THE PERCENTAGE OF THE EXECUTIVE DIRECTOR'S SALARY ALLOCATED TO AAPGF AND INCLUDED IN AAPGF'S ANNUAL FINANCIAL PLAN. THE FINANCIAL PLAN IS REVIEWED BY THE TRUSTEES AND APPROVED ANNUALLY BEFORE THE START OF EACH FISCAL YEAR. THE PROCESS UTILIZED TO DETERMINE THE SALARY LEVELS OF KEY STAFF IS SIMILAR TO THE PROCESS USED FOR THE EXECUTIVE DIRECTOR AS SALARY STUDIES ARE USED FOR BOTH LOCAL AND NATIONAL. AAPG RECEIVES LOCAL SALARY INFORMATION FROM A HUMAN RESOURCES CONSULTANT WHO MAINTAINS A LOCAL SALARY DATABASE. THE TRUSTEES DO NOT APPROVE THE SALARIES OF KEY STAFF MEMBERS, BUT THE EXECUTIVE DIRECTOR PROVIDES THIS INFORMATION TO THE TRUSTEES, AND THE SALARY AND BENEFIT LEVELS ARE INCLUDED IN AAPGF'S ANNUAL BUSINESS AND FINANCIAL PLAN. |
FORM 990, PART VI, SECTION C, LINE 18 | THE CONFLICT OF INTEREST POLICY IS NOT MADE PUBLIC AT THIS TIME. HOWEVER, A COPY OF THE FORM WILL BE INCLUDED ON THE FOUNDATION'S WEBSITE IN THE NEAR FUTURE. |
FORM 990, PART VI, SECTION C, LINE 19 | THE GOVERNING DOCUMENTS ARE LOCATED IN THE FOUNDATION'S OFFICE WHICH IS OPEN TO THE PUBLIC. |
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