Fairfield County'S Community Foundation

“Fairfield county's community foundation has its form 990 prepared by an outside accounting firm and has established the following review process to ensure that the information reported is complete and accurate. When the form 990 has been prepared, reviewed by management and the audit committee, and is ready to be filed with the irs, it is submitted electronically to members of the board of directors for any comments prior to its submission. The board members are given 10 days to review the prepared form 990 and provide their comments. Any comments are then grouped and summarized by the cfo and provided to the president for review. Each issue is documented and addressed until the return is finalized and approved for filing.”

“Fccf has in place a conflict of interest policy which it annually monitors and enforces. The board mandates that all foundation board members, committee members and staff annually sign a conflict of interest policy and disclose any potential or actual conflicts that may exist. The signed conflict of interest policy is submitted to the ceo/president, who reviews the signed attestations for potential or actual conflicts. If a potential or actual conflict of interest exists, it is the responsibility of each board member, committee member and staff person to inform the president of any dual or conflicting roles they may have or have knowledge of, if such are not otherwise made known in the foregoing process. It is then the responsibility of the president to inform the chairperson of the board and/or affected committee chairs of the dual or conflicting roles, for discussion and resolution by the board at its next scheduled meeting. If a conflict of interest is determined to exist, the interested person will not be allowed to vote or be a part of any decisions about any such transactions that have to do with the conflict until such time as there is no longer a conflict.”

“Fccf has established a written compensation policy whereby the executive committee reviews compensation annually for the ceo and key employees in a process that is free of conflict of interest. The executive committee, which functions as a compensation committee, reviews appropriate and adequate data to determine the reasonableness of compensation being considered. The executive committee uses information and studies to set an appropriate compensation level for its ceo and president. The executive committee uses similar data to review and approve compensation recommendations for key employees as well. The executive committee's compensation recommendation is documented and includes the date the recommendation is reached, the members present and voting, the terms of the compensation that were approved, and the comparable data used to make the recommendation. Compensation for the ceo and key employees was last reviewed and approved by the compensation committee in june 2024.”

“Fairfield county's community foundation makes its form 990 available for public inspection as required under section 6104 of the internal revenue code. The return is posted on guidestar.org, and the organization's website. In addition, the governing documents, financial statements, and the conflict of interest policy are available for inspection at the foundation's offices and copies are available upon written request or by calling the organization directly.”

“Fairfield county's community foundation (the "community foundation"), partners with our community to create a fairfield county where every person has an equitable opportunity to thrive. The overarching goal of the community foundation is to close the opportunity gap in fairfield county. This means eliminating disparities in income, education, employment, housing and health. To do this transformative work, the community foundation fosters and facilitates the coming together of the public, private and nonprofit sectors. As a community leader, the community foundation is advisor and catalyst for effective philanthropy, creates and manages charitable funds and addresses community needs with strategic grantmaking, partnerships and initiatives. The community foundation provides: - personalized philanthropic advisory services, grant services and financial stewardship to fund holders. - community leadership and strategic, collaborative initiatives to address key regional issues, such as education, affordable housing, health, economic opportunity and other areas, with an emphasis on older youth, women and girls and immigrants. - grants, counsel and professional development/leadership and other training to local nonprofits. - research on nonprofits and causes, due diligence and consultation with agencies and monitoring and evaluation of grant programs and foundation initiatives.”

“Change in value of split-interest agreements 3,420.”

“The foundation has an audit committee that oversees the audit of its financial statements and selection of an independent auditor. The process has not changed from the prior year.”