Minneapolis Parks Foundation

“The organization has an executive committee which is composed of the board chair, vice chair, secretary, treasurer, immediate past chair, finance committee chair, development committee chair, governance committee chair, one at-large director and the executive director. The executive committee has the authority of the board of directors in the management of business of the foundation in the interval between meetings of the board of directors.”

“In december 2024, the foundation approved amended bylaws which clarified the two categories of ex officio directors and the rights and responsibilities of each. Category "a" ex officio directors include two commissioners of the minneapolis parks and recreation board (mprb) approved by the president of mprb, the executive director of the foundation, and the chair of the foundation, and these ex officio directors have the voting rights and fiduciary responsibilities of directors. Category "b" ex officio directors include the superintendent of mprb, the mayor of the city of minneapolis, and the executive director of the foundation, and these ex officio directors shall not have the voting rights or fiduciary responsibilities of directors.”

“A draft of the form 990 is reviewed by management and by the finance committee of the board. A draft is then given to the full board of directors, who reviews and approves it at a meeting before the form 990 is submitted to the irs.”

“A draft of form 990 is reviewed by management and by the finance committee of the board. A draft is then given to the full board of directors who review and approve it at a meeting held prior to the form 990's submission to the irs.”

“The foundation's conflict of interest policy applies to "responsible persons," as defined in the policy as directors, members of committee with the authority of the board, and officers. Responsible persons receive a copy of the conflict of policy once a year and then complete a conflict of interest disclosure form. These forms are reviewed by the executive director. In addition, when a conflict of interest arises at a board or committee meeting, the person with the conflict is required to disclose all facts about the conflict at the meeting. The board or committee reviews each conflict during the meeting and decides how to proceed on the decision. The person with the conflict does not vote on the matter and may be required to leave the room during the vote. The disclosure, review, and decision are recorded in the meeting's minutes.”

“The executive director's compensation was reviewed and determined by the executive committee, using compensation data from comparable organizations state-wide and across the nation. The deliberation was held in executive session (no staff) and was documented with a letter from the chair to the executive director, with a copy to the staff member who handles payroll. The process described here was last completed in 2024.”

“The organization does not makes its governing documents, conflict of interest policy, and financial statements available to the public upon request.”

“Change in funds held for others -3,281,804.”

“The process has not changed from the prior year.”