Then Fuller Center For Housing has as its primary objective to provide a reasonable and competitive total compensation opportunity to employees consistent with market-based compensation practices for individuals possessing the experience and skills needed to improve the overall performance of the Organization.
The Organization’s compensation program is designed to:
_ Encourage the attraction and retention of high-caliber executives and employees.
_ Provide a competitive total compensation package, including benefits.
_ Reinforce the goals of the Organization by supporting teamwork and collaboration.
_ Ensure that pay is perceived to be fair, reasonable and equitable.
_ Be flexible to reward individual accomplishments as well as organization success.
_ Balance the need to be competitive with the limits of available financial resources.
_ Ensure that compensation complies with state and federal laws and regulations.
While The Fuller Center For Housing focused on comparable nonprofit organizations in our area to benchmark pay, we also understand that the market for talent at both the general and executive levels may be broader than this group. Market information from two additional market segments, private foundations, and published not-for-profit compensation surveys may be used as supplements.
In addition, The Fuller Center For Housing may also collect other published survey data, when appropriate, for for-profit organizations for specific functional competencies such as finance and human resources.
Together with this data from the comparable local organizations, data from these market segments are used to form a “market composite” to assess the competitiveness, fairness and appropriateness of compensation paid by The Fuller Center For Housing to its executives and other employees.
In general, The Fuller Center For Housing positions total compensation, including benefits, within the range of the market. The Fuller Center For Housing attempts to be flexible within this range so that compensation can be above or below the median based on experience, performance, and business need to attract and retain specific talent.
The Fuller Center For Housing’s compensation strategy and implementation is administered by the Board of Directors, which may create a compensation committee from time to time to which these duties may be delegated. The Board or committee is responsible for establishing and maintaining a competitive compensation program for the organization and coordinating an annual review by an independent consulting firm (or an internal determination) to evaluate the Organization’s executive compensation against the competitive market. The evaluation is then reviewed to ensure that the compensation levels set by the Board of Directors falls within a reasonable range of competitive practices for comparable positions amount similarly situated nonprofit, tax-exempt organizations.
Following this review, the Board or committee reviews and approves, for officers, base salaries and annual incentive opportunity adjustments (if any), and objectives and goals for the upcoming year. The Board then is presented with salaries for approval at the first available meeting of the Board, at which time salaries are set based on the parameters of this policy.
The foregoing represents the current compensation policy of The Fuller Center For Housing as adopted and approved by its Board of Directors as of the __ day of _____________, 20__.
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