Community Foundation for Greater New Haven

“The board of directors shall consist of eleven citizens of the united states and residents of the city of new haven, connecticut, or vicinity, selected for their knowledge of the charitable or educational needs of the community. It is a cardinal principle of the foundation that it shall be conducted in the interests of the whole community without regard to race, color, religion, sex or creed, and that to the greatest possible extent all interests, classes and creeds shall be represented on the board of directors. No person holding a salaried public office shall be a member of said board of directors; and if any member of the board of directors shall be appointed or elected to any salaried public office, such member shall thereupon and without any action or proceedings whatsoever cease to be a member of the board of directors. No executive officer of a trustee shall be a member of the board of directors. The board of directors shall be selected, appointed and classified as follows: class 1 - one member by the chief executive of the city of new haven, connecticut. Class 2 - one member by the president or other chief executive officer of the new haven chamber of commerce. Class 3 - one member by the judge of the probate court for the district of new haven, connecticut. Class 4 - one member by the trustees' committee. Class 5 - one member by the president or other chief executive officer of yale university. Class 6 - one member by the president of the new haven county bar association. Class 7 - one member by the trustees' committee. Class 8 - one member by the board of directors by majority vote of all the members serving at the time of such appointment. Class 9 - one member by the board of directors by majority vote of all the members serving at the time of such appointment. Class 10 - one member by the board of directors by majority vote of all the members serving at the time of such appointment. Class 11 - one member by the board of directors by majority vote of all the members serving at the time of such appointment. All appointments of members of the board of directors shall be made at least thirty days before and not more than ninety days before the expiration of the term of office of the particular member of the committee whose position such appointment is designed to fill.”

“Trustee banks provide governance decisions relative to the spending policy calculation for the funds held at each respective bank.”

“The 990 and audited financial statements are reviewed by the audit committee and board of directors before release and submission to the service and the general public.”

“All staff and board members must sign the conflict of interest policy annually to update any existing affiliations.”

“A compensation analysis was performed by an outside consulting firm. The analysis was adopted by the finance committee of the board. The duet performance system is a performance-based system created by an outside consulting company that provides individual and organizational performance indicators for all staff. The ceo performance is reviewed by the board of directors.”

“Financial statements are available on the website or upon request. Governing documents and the conflict of interest policy are available upon request.”

“Change in value of split interest agreements 23,036.”

“The organization has an audit committee that assumes responsibility for the oversight of the audit and selection of an independent accountant. This process has not changed in the current year.”

“The form is being amended to reflect revised compensation information, changes in unrelated business income due to filing of form 990-t and a change in form 926. This has resulted in changes to the following: 990 - part 1 lines 7a and 7b, part v lines 3a and 3b, part vii section a column d, part viii lines 3 and 7d and part ix lines 5 and 7. 990t form 926 for patron capital, v l.p. Part ii lines 5 and 7, part iii and part iv line 9.”