The Board will secure date that documents compensation levels and benefits for similarly qualified individuals in comparable positions at similar organizations. This data may include the followings:
- Salary and benefit compensation studies by independent sources.
- Written job offers for positions at similar organizations.
- Documented telephone calls about similar positions at both nonprofit and for-profit organizations; and
- Information obtained from the IRS Form 990 filings of similar organizations.
To approve the compensation for the CEO the board document how it reached its decisions, including the data on which it relied, in minutes of the meeting during which the compensation was approved. Documentation will include:
- A description of the compensation and benefits and the date it was approved;
- The members of the board who were present during the discussion about compensation and benefits, and the results of the vote;
- A description of the comparability data relied upon and how the data was obtained; and
- Any actions taken (such as abstaining from discussion and vote) with respect to consideration of the compensation by anyone who is otherwise a member of the board but who had a conflict of interest with respect to the decision on the compensation and benefits.
