The Pittsburgh Foundation

“Evan frazier and david malone - business relationship. William strickland and claudette lewis - business relationship.”

“The pittsburgh foundation's draft form 990 is reviewed and approved by the audit committee. Upon approval, the audit committee reports to the full board. The completed form 990 is available on the foundation's website.”

“In the first meeting of each year the executive assistant asks every board member, both current and emeritus, to complete and return the following forms to help the foundation keep their records, assist members execute their fiduciary responsibilities, and ensure compliance with governing policies, processes and procedures. 1. Board member data sheet (contact information) 2. Conflict of interest 3. Irs required disclosures 4. Conflict of interest declaration when the completed forms are returned, the executive assistant updates the foundation's database with any changes to contact information and conflicts of interest. A summary of conflicts is then provided to the foundation's program committee for review and discussion. The executive assistant keeps the original forms, which are dated and signed by each board member, on file. The foundation also attempts to ensure the information is correct during the program and policy committee meetings where each committee member receives a list of their conflicts, as reflected in the foundation's database. They are asked at that time to make any changes necessary. Program staff will forward those revisions, if any, to the executive assistant who makes the changes in the foundation's database.”

“The process begins with a collection of comparable total compensation data from council on foundation's compensation survey, and the larger community foundation compensation and benefits survey, which collects and summarizes compensation and benefit data from the 30 largest community foundations, sorted by both asset size and geographical location. An intermediate sanctions review package is prepared for the executive committee of the board to review. In addition to including a comparable salary analysis, the package outlines the ceo and vice presidents compensation to facilitate the executive committee's determination as to whether their compensation and benefits are reasonable and appropriate compared to market standards and to ensure that no one is receiving an excess benefit. At the conclusion of the review process the compensation packages are approved by the foundation's independent executive committee of the board. In the case of the ceo, the board chair also conducts an annual performance review of the ceo including collecting 360 feedback from key staff and board members.”

“The pittsburgh foundation makes its governing documents, and conflict of interest policy available upon request. Financial statements are made available to the public by posting them on their website.”

“The value shown in column (f), estimated amount of other compensation, includes the portion of the current year's accumulated benefit obligation that is attributable to benefits accrued during the year under the pittsburgh foundation's defined benefit pension plan. Effective december 31, 2014, the pittsburgh foundation froze all benefit accruals under its noncontributory defined benefit pension plan. The foundation expects to make no contributions to the plan in 2015.”

“The pittsburgh foundation works to improve the quality of life in the pittsburgh region by evaluating and addressing community issues, promoting responsible philanthropy, and connecting donors to the critical needs of the community.”

“As disclosed in schedule l, the foundation unknowingly and without willful neglect paid an investment fee (compensation) from a donor advised fund to an investment advisor who was related to the donor. Upon discovery of the payment, the funds were immediately returned to the foundation. Processes and procedures are in place to prevent future occurrences of this nature.”

“Change in value of perpetual trust held by others 16,331,727. Pension valuation -1,761,692. Grant refunds 100,088.”

“The foundation's financial statements are audited by an independent accounting firm. In addition, the foundation has a committee that assumes the responsibility for oversight of the audit of its financial statements and selection of its independent accountant. This process has not changed from the prior year.”