The Joan and Harold Feinbloom Supporting

“Stephen and david feinbloom, board members, are sons to joan feinbloom, president.”

“Employees of rochester area community foundation perform certain administrative functions for the organization.”

“Our finance committee members of rochester area community foundation, an affiliated organization, are each emailed a copy of the form 990 prior to the 990 being filed. They are given approximately two weeks to review the document. During that time they ask the senior vice president and cfo any questions or concerns they have about the 990. The senior vice president and cfo addresses and resolves all questions and issues on the 990. The individual finance committee members submit their approval by email. Once approved by all finance committee members, the form 990 is emailed to the board of directors for their review. The form 990 is discussed at the next board meeting prior to the form 990 being filed. It is a separate agenda item for the board meeting, giving the members an opportunity to discuss any questions that they might have.”

“Officers, directors, key employees and staff are required annually to complete a "conflict of interest" form. This form asks the individual to disclose all current positions or relationships in which they are involved or which may pose a potential conflict of interest, and shall further disclose any subsequently established relationship that may be perceived to be a potential conflict of interest. It is our policy that throughout the year at board and committee meetings that all conflicts of interest, including potential interests, shall be disclosed, and that directors and committee members shall refrain from voting upon or participating in any board or committee action involving the entity with which there may be a conflict, by leaving the room during such vote or action.”

“The treasurer retired six months after the start of the year on 9/30/2022 so the organization had a revised performance review process. The senior vice president and cfo provides compensation history and salary/benefit comps from local and national peers to the executive committee. An executive session of the executive committee is followed by a meeting with board member to share performance review. Chair prepares salary recommendation for executive committee. Full executive committee ratifies salary recommendation; chair communicates in writing to the treasurer and senior vice president and cfo”

“The governing documents, conflict of interest policy and financial statements of the organization are available to the public on request. In addition, our financial statements and form 990 are available on our website www.racf.org.”

“Transfer of assets to rochester area community foundation (note 1). -5,787,407.”

“The audit committee is responsible for the review and approval of the audited financial statements.”

“The joan and harold feinbloom supporting foundation, inc. (feinbloom) is a supporting organization of the rochester area community foundation upon which a consolidated financial statement audit is performed. The information provided is presented as if feinbloom had issued separate financial statements.”

“Rochester area community foundation is a supported organization. The purpose of the transfer was to establish the joan and harold feinbloom fund. The joan and harold feinbloom supporting foundation, inc. Was established under section 509(a)(3) of the internal revenue code (irc) to operate solely for supporting the activities of the community foundation. In consultation with the feinbloom family, the board approved a resolution to formally dissolve the joan and harold feinbloom supporting foundation in january 2023. In conjunction therewith, the assets of the joan and harold feinbloom supporting foundation were transferred out of the supporting foundation to the joan and harold feinbloom fund which is a field of interest endowment fund, maintained by the rochester area community foundation. Jennifer leonard, simeon banister and amy vars are all also officers on the rochester area community foundation board.”