Community Foundation for Greater Buffalo Inc.

“The board of the community foundation delegated responsibility for an in-depth review of the form 990 to the executive committee which carried out the review. After executive committee review and prior to the filing of the return, a complete copy of the return was made available to each member of the board for their review.”

“Each director, principal officer, key employee, and member of a committee with board-delegated powers annually signs a statement which affirms that he or she is aware of and understands the community foundation 's conflict of interest policy and has agreed to comply with the policy. The policy clearly describes the procedures for addressing any actual or possible conflicts of interest and includes the consequences of violating the policy. The meeting minutes contain the names of persons who disclosed or were found to have an actual or possible conflict of interest. Such person is required to leave the meeting during the discussion of, and the vote on, the transaction or arrangement involving the conflict of interest. The minutes will include the names of persons present for discussions and votes relating to the transaction, the content of the discussion and a record of any votes taken in connection with the proceedings.”

“Several factors are involved and weighed in the compensation decision for each employee including, prior year compensation, work quality, achievement of annual goals, change in status (such as a promotion), comparison to local and national survey data and other factors specific to each situation. During 2015, a task force of the board led the effort to complete a comprehensive compensation review to ensure competitive positioning for the foundation. The task force hired an independent consultant to assist them in conducting the review which benchmarked the salary structure of all positions within the foundation. The goals of the review included, but were not limited to, the following: (1) maintain a compensation program (salary and benefits) that is comparable to other similar western new york organizations and other community foundations of similar size, structure and activities, (2) preserve employee satisfaction by providing a competitive compensation program, (3) demonstrate fiscal responsibility by managing the compensation program appropriately, (4) recommend a strategy for addressing the maintenance of current and future salary equity for employees, (5) ensure that compensation increases are tied to performance.(see schedule j, part iii - supplemental information).”

“The community foundation's audited financial statements are posted on the foundation's website. All of these documents are available upon request.”

“During 2015, the community foundation formally initiated two new programs: 1) impact investing (see part iii, line 4c) and 2) the racial equity roundtable (see schedule o, description for part iii, line 4d).”

“All payroll and human resources functions have been outsourced to the alcott group - a professional employment organization. This contract establishes a co-employment relationship between the foundation and the alcott group. Under this relationship, the alcott group assumes responsibility for risk management, personnel management, human resource compliance and payroll and employee tax compliance. All payroll tax filings for the foundation's employees are filed by and included as part of the alcott group.”

“Current year change in value of the beneficial interest in perpetual trust -1,088,438. Pass through partnership k-1 -7,469. Change in other receivables 25,163.”

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