FORM 990, PART V, LINE 13A |
SC |
FORM 990, PART VI, SECTION A, LINE 2 |
DAVID DOUGLAS'S DAUGHTER IS R RUSSEL POWELL PR. |
FORM 990, PART VI, SECTION A, LINE 7B |
THE ANNUAL BUDGET IS REVIEWED AND PRESENTED BY THE FINANCE COMMITTEE TO THE BOARD OF DIRECTORS. THE BOARD REVIEWS AND APPROVES THE BUDGET. |
FORM 990, PART VI, SECTION B, LINE 11B |
IN ADDITION TO THE FINANCE COMMITTEE REGULAR DUTIES, THE CHAIR WILL CALL A MEETING AS NECESSARY IN ORDER TO DISCHARGE ITS RESPONSIBILITIES ABOUT THE ANNUAL AUDIT AND APPROVAL OF FORM 990. THE MEMBERS OF THE FINANCE COMMITTEE REVIEWING THE AUDIT OR REVIEW AND 990 WILL BE PERSONS SERVING ON THE ORGANIZATION'S BOARD WHO HAVE NO EXISTING FINANCIAL, FAMILY OR OTHER PERSONAL TIES TO MANAGEMENT OF THE ORGANIZATION. NO STAFF MEMBERS OF THE ORGANIZATION WILL BE ELIGIBLE TO SERVE ON THE FINANCE COMMITTEE. THE ASSISTANT DIRECTOR WILL SERVE AS AN ADVISOR TO SUPPORT THE ACTIONS OF THE FINANCE COMMITTEE. THE FINANCE COMMITTEE'S RESPONSIBILITIES WILL INCLUDE: 1. SELECTING THE AUDIT FIRM TO CONDUCT AN INDEPENDENT AUDIT OF THE ORGANIZATIONS FINANCIAL STATEMENTS. 2. REVIEWING AND APPROVING THE AUDIT SCOPE AND FEES. 3. REVIEWING AND APPROVING ANY PROPOSED INVOLVEMENT OF THE AUDIT FIRM IN ACTIVITIES OTHER THAN THE ANNUAL AUDIT. 4. ENSURING A DIRECT LINE OF COMMUNICATIONS WITH THE ORGANIZATION'S AUDITOR. 5. PROVIDING OVERSIGHT OF MANAGEMENT'S PERFORMANCE WITH RESPECT TO REQUIRED AND RECOMMENDED FINANCIAL RESPONSIBILITIES AND DISCLOSURES. 6. CONSIDER AND REVIEW, WITH MANAGEMENT AND THE AUDITORS, THE ADEQUACY OF THE ORGANIZATION'S RISK MANAGEMENT METHODOLOGY AND INTERNAL CONTROLS, INCLUDING COMPUTERIZED INFORMATION SYSTEM CONTROLS AND SECURITY. 7. PROVIDING OVERSIGHT OF THE ORGANIZATION'S CONFLICT OF INTEREST POLICY AND KEEPING THE BOARD APPRISED OF ANY CHANGES REQUIRED IN THE POLICY OR ITS IMPLEMENTATION. 8. REVIEWING THE ADEQUACY OF FINANCIAL REPORTS PROVIDED BY THE BOARD AND MAKING RECOMMENDATIONS FOR THEIR IMPROVEMENT. 9. REVIEWING AND ADDRESSING THE MANAGEMENT LETTER AND AUDITOR'S COMMENTS. 10. REVIEW ANY SERIOUS DIFFICULTIES OR DISPUTES WITH MANAGEMENT ENCOUNTERED DURING THE COURSE OF THE AUDITS. 11. REVIEW OTHER MATTERS RELATED TO THE CONDUCT OF THE AUDITS THAT ARE COMMUNICATED TO THE COMMITTEE UNDER GENERALLY ACCEPTED AUDITING STANDARDS. 12. REVIEW THE FORM 990 PRIOR TO ITS SUBMISSION TO STATE AND FEDERAL OFFICES. 13. REVIEW PUBLISHED DOCUMENTS CONTAINING THE ORGANIZATION'S FINANCIAL STATEMENTS CONSIDER WHETHER THE INFORMATION CONTAINED IN THESE DOCUMENTS IS CONSISTENT WITH THE INFORMATION CONTAINED IN THE FINANCIAL STATEMENTS. 14. INITIATE AN INVESTIGATION INTO ANY MATTER BROUGHT TO ITS ATTENTION WITHIN THE SCOPE OF ITS DUTIES, WITH THE POWER TO RETAIN OUTSIDE COUNSEL FOR THIS PURPOSE IF, IN ITS JUDGMENT, THAT IS APPROPRIATE THE COMMITTEE WILL PROMPTLY REPORT ANY SUCH ACTIONS TO THE EXECUTIVE COMMITTEE. 15. MAKE RECOMMENDATIONS TO THE BOARD BASED ON THE COMMITTEE'S REVIEW ACTIVITIES. |
FORM 990, PART VI, SECTION B, LINE 12C |
TO ENSURE THE SOCIETY OPERATES IN A MANNER CONSISTENT WITH CHARITABLE PURPOSES AND DOES NOT ENGAGE IN ACTIVITIES THAT COULD JEOPARDIZE ITS TAX-EXEMPT STATUS, PERIODIC REVIEWS SHALL BE CONDUCTED WHETHER COMPENSATION ARRANGEMENTS AND BENEFITS ARE REASONABLE, BASED ON COMPETENT SURVEY INFORMATION AND THE RESULT OF ARM'S LENGTH BARGAINING. WHETHER PARTNERSHIPS, JOINT VENTURES, AND ARRANGEMENTS WITH MANAGEMENT SOCIETY'S CONFORM TO THE SOCIETY'S WRITTEN POLICIES, ARE PROPERLY RECORDED, REFLECT REASONABLE INVESTMENT OR PAYMENTS FOR GOODS AND SERVICES, FURTHER CHARITABLE PURPOSES AND DO NOT RESULT IN IMPERMISSIBLE PRIVATE BENEFIT OR IN AN EXCESS BENEFIT TRANSACTION WHEN CONDUCTING THE PERIODIC REVIEWS AS PROVIDED FOR IN ARTICLE VI, THE SOCIETY MAY, BUT NEED NOT, USE OUTSIDE ADVISORS. IF OUTSIDE EXPERTS ARE USED, THEIR USE SHALL NOT RELIEVE THE GOVERNING BOARD OF ITS RESPONSIBILITY FOR ENSURING PERIODIC REVIEWS ARE CONDUCTED. |
FORM 990, PART VI, SECTION B, LINE 15A |
THIS POLICY ON THE PROCESS OF DETERMINING COMPENSATION FOR THE SOUTH CAROLINA HISTORICAL SOCIETY (SCHS) APPLIES TO THE COMPENSATION OF THE FOLLOWING PERSONS EMPLOYED BY THE ORGANIZATION: THE ORGANIZATION'S EXECUTIVE DIRECTOR NO OTHER OFFICERS OR KEY EMPLOYEES OF THE ORGANIZATION ARE INCLUDED IN THIS POLICY. THE EXECUTIVE DIRECTOR DETERMINES STAFF SALARIES BASED ON JOB SKILLS NEEDED, EXPERIENCE, AND EDUCATION REQUIREMENTS IN COMPARISON WITH OTHER SIMILAR ORGANIZATION POSITION AND WHAT THE SCHS CAN AFFORD TO PAY. THE EXECUTIVE DIRECTOR DETERMINES THE ASSISTANT DIRECTOR'S SALARY WITH REVIEW BY THE BOM PRESIDENT TAKING INTO CONSIDERATION APPROPRIATE COMPARABLE DATA. THE PROCESS INCLUDES ALL OF THESE ELEMENTS: (1) REVIEW AND APPROVAL BY THE EXECUTIVE COMMITTEE; (2) USE OF DATA AS TO COMPARABLE COMPENSATION; AND (3) CONTEMPORANEOUS DOCUMENTATION AND RECORDKEEPING. 1. REVIEW AND APPROVAL. THE COMPENSATION OF THE PERSON IS REVIEWED AND APPROVED BY THE EXECUTIVE COMMITTEE OF THE ORGANIZATION, PROVIDED THAT PERSONS WITH CONFLICTS OF INTEREST WITH RESPECT TO THE COMPENSATION ARRANGEMENT AT ISSUE ARE NOT INVOLVED IN THIS REVIEW AND APPROVAL. 2. USE OF DATA AS TO COMPARABLE COMPENSATION. THE COMPENSATION OF THE PERSON IS REVIEWED AND APPROVED USING DATA AS TO COMPARABLE COMPENSATION FOR SIMILARLY QUALIFIED PERSONS IN FUNCTIONALLY COMPARABLE POSITIONS AT SIMILARLY SITUATED ORGANIZATIONS. 3. CONTEMPORANEOUS DOCUMENTATION AND RECORDKEEPING. THERE IS CONTEMPORANEOUS DOCUMENTATION AND RECORDKEEPING WITH RESPECT TO THE DELIBERATIONS AND DECISIONS REGARDING THE COMPENSATION ARRANGEMENT. |
FORM 990, PART VI, SECTION C, LINE 19 |
THE PUBLIC MAY ACCESS FINANCIAL INFORMATION BY REQUESTING INFORMATION FROM THE ADMINISTRATIVE OFFICE OF THE SOCIETY. |