2024-05-14T21:26:21-05:00 2023-06-30 521392008 GELMAN ROSENBERG & FREEDMAN 4550 MONTGOMERY AVE SUITE 800N BETHESDA MD 208142930 990 2023-01-01 270748749 GOLDEN KEY INTERNATIONAL HONOUR SOCIETY FOUNDATION INC GOLD 6786892200 2302 PARKLAKE DRIVE 630 ATLANTA GA 30345 MELISSA LEITZELL CEO 6786892200 2024-05-14 1 MELISSA LEITZELL 999009999 0 RICHARD J LOCASTRO CPA P00288314 3019519090 3 AAL1 IAL1 2023 2023-04-26 12:10:37Z MELISSA LEITZELL 2302 PARKLAKE DRIVE 630 ATLANTA GA 30345 75282 0 X N/A X 2009 GA SEE PART III, LINE 1. 4 3 0 0 0 0 0 0 0 0 -62621 -7127 0 0 -62621 -7127 700000 150000 0 0 0 0 0 0 0 16930 7598 716930 157598 -779551 -164725 3606523 3757830 0 60000 3606523 3697830 THE MISSION OF THE FOUNDATION IS TO OPERATE EXCLUSIVELY FOR THE BENEFIT OF, TO PERFORM THE FUNCTIONS OF, AND/OR TO CARRY OUT THE CHARITABLE, EDUCATIONAL AND SCIENTIFIC PURPOSES OF THE GOLDEN KEY INTERNATIONAL HONOUR SOCIETY, INC. 0 0 150000 150000 SUPPORT FOR GOLDEN KEY INTERNATIONAL HONOUR SOCIETY, INC. 150000 1 0 0 0 0 0 0 0 0 1 0 0 0 0 1 0 0 1 0 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 X 4 3 0 0 0 0 1 1 1 1 1 0 0 1 1 1 1 1 1 0 0 0 GA X DERRICK BROWN 6786892260 2302 PARKLAKE DRIVE 630 ATLANTA GA 30345 MELISSA LEITZELL EXECUTIVE DIRECTOR 1.00 39.00 X X 0 0 0 GAIL COLE-AVENT CHAIR 1.00 1.00 X 0 0 0 SEAN FERRELL BOARD MEMBER 0.50 0.00 X 0 0 0 BENJAMIN BUCKINGHAM BOARD MEMBER 0.50 0.00 X X 0 0 0 DERRICK BROWN CFO 1.00 39.00 X 0 0 0 0 0 0 2 0 0 0 0 44929 44929 30353 82409 -52056 -52056 -52056 -7127 -52056 0 44929 150000 150000 7598 7598 157598 150000 7598 0 3606523 3757830 3606523 3757830 0 60000 0 60000 X 3606523 3697830 3606523 3697830 3606523 3757830 -164725 256032 0 X 0 1 X 1 0 X X X 1 GOLDEN KEY INTERNATIONAL HONOUR SOCIETY 581306896 10 1 150000 0 1 150000 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 0 3606523 248905 90000 7598 3757830 4381945 -775422 3606523 4387462 394516 400033 4381945 4448337 539125 600000 4387462 5008355 809982 1370000 4448337 0.00000 1.00000 0.00000 0 0 0 DUE TO IHS 60000 60000 PART V, LINE 4: THE BASIC PHILOSOPHY GOVERNING THE INVESTMENT OF THE SOCIETY'S PORTFOLIO IS THE LONG-TERM PRESERVATION OF PRINCIPAL. THE GENERAL FUND IS A BOARD-DESIGNATED QUASI-ENDOWMENT FUND. THE GENERAL FUND IS SET ASIDE FOR CURRENT AND FUTURE SCHOLARSHIPS AND SUPPORT OF THE SOCIETY AND CONTRIBUTIONS TO THE SOCIETY ARE BUDGETED ON AN ANNUAL BASIS. IN ESTABLISHING THIS POLICY, THE SOCIETY CONSIDERED THE LONG-TERM EXPECTED RETURN ON ITS INVESTMENT ASSETS, THE NATURE AND DURATION OF THE INDIVIDUAL ENDOWMENT FUNDS, SOME OF WHICH MUST BE MAINTAINED IN PERPETUITY BECAUSE OF DONOR RESTRICTIONS, AND THE POSSIBLE EFFECTS OF INFLATION. THE SOCIETY'A OBJECTIVE IS TO MAINTAIN THE PURCHASING POWER OF THE ENDOWMENT ASSETS AS WELL AS TO PROVIDE ADDITIONAL REAL GROWTH THROUGH INVESTMENT RETURN. THE SOCIETY EXPECTS A RATE OF RETURN OF 3% TO 4% ANNUALLY. ACTUAL RETURNS IN ANY GIVEN YEAR MAY VARY FROM THIS AMOUNT. 1 GOLDEN KEY INTERNATIONAL HONOUR SOCIETY INC 2302 PARKLAKE DRIVE SUITE 630 ATLANTA GA 30345 581306896 501(C)(3) 150000 0 GENERAL CONTRIBUTION 1 0 PART I, LINE 2: THE FOUNDATION IS ABLE TO MONITOR THE USE OF FUNDS THROUGH THE CLOSE WORKING RELATIONSHIP WITH THE SOCIETY, A RELATED ORGANIZATION. 0 0 0 0 0 0 0 0 0 PART I, LINE 3 GOLDEN KEY INTERNATIONAL HONOUR SOCIETY FOUNDATION RELIES ON GOLDEN KEY INTERNATIONAL HONOUR SOCIETY, A RELATED ORGANIZATION, TO DETERMINE COMPENSATION OF THE EXECUTIVE DIRECTOR. THE SOCIETY USES THE FOLLOWING METHODS TO ESTABLISH COMPENSATION OF THE EXECUTIVE DIRECTOR: - COMPENSATION COMMITTEE - COMPENSATION SURVEY OR STUDY - APPROVAL BY THE BOARD OR COMPENSATION COMMITTEE FORM 990, PART VI, SECTION A, LINE 6 GOLDEN KEY INTERNATIONAL HONOUR SOCIETY, INC. IS THE SOLE MEMBER OF THE FOUNDATION. FORM 990, PART VI, SECTION A, LINE 7A THE SOLE MEMBER HAS THE RIGHT TO ELECT AND REMOVE ALL MEMBERS OF THE FOUNDATION'S BOARD OF DIRECTORS. FORM 990, PART VI, SECTION A, LINE 7B THE SOLE MEMBER HAS THE RIGHT TO APPROVE THE ADOPTION, AMENDMENT AND/OR REPEAL OF ANY PROVISION OF THE ARTICLES OF INCORPORATION AND THE BYLAWS, AND THE ADOPTION OR RATIFICATION OF THE CORPORATION'S CAPITAL BUDGET, OPERATING BUDGET, MISSION STATEMENT, AND STRATEGIC PLAN. FORM 990, PART VI, SECTION B, LINE 11B THE FORM 990 WAS PREPARED BY THE OUTSIDE ACCOUNTANTS AND WAS REVIEWED BY SENIOR MANAGEMENT. THE BOARD RECEIVED A FINAL COPY OF THE FORM 990 BEFORE IT WAS FILED WITH THE IRS. FORM 990, PART VI, SECTION B, LINE 12C THE FOUNDATION MONITORS AND ENFORCES ITS CONFLICT OF INTEREST POLICY ANNUALLY, BY REQUIRING EACH BOARD MEMBER TO SIGN A CONFLICT OF INTEREST DISCLOSURE STATEMENT. DISCLOSURE INVOLVING DIRECTORS SHOULD BE MADE TO THE BOARD CHAIR, WHO SHALL BRING THESE MATTERS, IF MATERIAL, TO THE BOARD. THE BOARD SHALL DETERMINE WHETHER A CONFLICT EXISTS AND IS MATERIAL, AND IN THE PRESENCE OF AN EXISTING MATERIAL CONFLICT, WHETHER THE CONTEMPLATED TRANSACTION MAY BE AUTHORIZED AS JUST, FAIR, AND REASONABLE TO GKIHS. THE DECISION OF THE BOARD ON THESE MATTERS WILL REST IN THEIR SOLE DISCRETION, AND THEIR CONCERN MUST BE THE WELFARE OF GKIHS AND THE ADVANCEMENT OF ITS PURPOSE. FORM 990, PART VI, SECTION B, LINE 15 THE FOUNDATION RELIES ON A RELATED ORGANIZATION, GOLDEN KEY INTERNATIONAL HONOUR SOCIETY, INC. TO DETERMINE COMPENSATION. THE SOCIETY'S COMPENSATION SETTING PROCESS INCLUDES THE USE OF COMPARABLE SALARY SURVEYS OBTAINED THROUGH PROFESSIONAL AGENCIES TO DETERMINE THE TYPICAL RANGE OF SALARY FOR A GIVEN POSITION. THESE ARE REVIEWED ON AT LEAST AN ANNUAL BASIS. EXECUTIVE DIRECTOR COMPENSATION IS DETERMINED BY THE EXECUTIVE COMMITIEE OF THE BOARD OF DIRECTORS. THE DECISION IS THEN DOCUMENTED IN THE EXECTUTIVE LIMITATIONS REVIEW AND BOARD MINUTES. THE LAST COMPENSATION REVIEW TOOK PLACE FEBRUARY 2022. FORM 990, PART VI, SECTION C, LINE 19 THE ORGANIZATION MAKES ITS GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY AND FINANCIAL STATEMENTS AVAILABLE TO THE PUBLIC UPON REQUEST, AT THE UNITED STATES HEADQUARTERS IN ATLANTA, GA. GOLDEN KEY INTERNATIONAL HONOUR SOCIETY 2302 PARKLAKE DRIVE SUITE 630 ATLANTA GA 30345 581306896 SCHOLARSHIP GA 501(C)(3) LINE 10 N/A 0 0 1 0 0 0 0 0 0 0 0 0 0 0 1 1 0 0 0 0 GOLDEN KEY INTERNATIONAL HONOUR SOCIETY B 150000 CASH