Stewardship of what is entrusted to us
Financial decisions at 1322 Foundation are guided by prudence, transparency and alignment with the Foundation's charitable mission.
Board oversight
- The Board of Directors reviews and approves the annual budget.
- Spending outside the approved budget requires Board approval.
- Disbursements require two authorized signers.
- Compensation of officers and staff is reviewed against independent market data each year.
Conflicts of interest
Directors, officers and staff disclose any financial interest in a matter before the Board, and interested persons do not vote on it. The Foundation follows the private foundation rules against self-dealing, and transactions with related parties are documented in Board minutes.
Grantmaking
Grants are made only to churches and charitable organizations whose work aligns with our mission and statement of faith. Grants to organizations outside the United States follow the additional due-diligence and reporting procedures that federal law requires of private foundations.
Reporting
The Foundation files an annual Form 990-PF with the Internal Revenue Service and keeps its financial records in accordance with nonprofit accounting standards. Copies of its annual returns are available on request, as federal law provides.
Requests: [email protected]