The Forbes Funds

“Business relationship: maxwell king and kate dewey.”

“The organization's bylaws provide for five directors. At all times, three directors elected by the pittsburgh foundation shall be nominated by the directors of the corporation, subject to approval of the pittsburgh foundation. In addition, two directors shall be elected by the directors of the forbes funds.”

“The pittsburgh foundation has the authority to approve all modifications to the articles of incorporation of the forbes funds regarding all mergers, consolidations, divisions, sales of substantially all assets and any dissolution or liquidation. The pittsburgh foundation may remove from office any director elected by the pittsburgh foundation. The pittsburgh foundation has the authority to approve amendments to the bylaws.”

“The organization does not have any committees with authority to act on behalf of the governing body.”

“The organization provides its board members with an electronic copy of the form 990 for review before it is filed. Prior to distribution, the form 990 is reviewed by the president of the forbes funds in conjunction with the pittsburgh foundation.”

“The organization requires each trustee to file a written declaration with the forbes funds stating affiliations and potential conflicts of interest upon joining as a trustee and once each year thereafter.”

“The process for determining compensation of the organization's president includes a negotiation of salary between the board and the president, and a committee review of performance. President evaluation and compensation: beginning in the 4th quarter of every year, the board chair solicits rounded feedback about the president's performance for that year from the members of the forbes fund board. The board chair then summarizes the rounded feedback and circulates the summary back to the board by the end of november with a recommendation for compensation. The president also submits a self-assessment to the board chair by the end of november. The board chair conducts a performance review for the president in december. Based on the results of the performance evaluation and consistent with both the organization's ability to pay as well as a review of the benchmark and comparable compensation data for similar positions from similar community foundations, the board chair may recommend changes to both the base salary and the variable compensation for the president. The hr department of the pittsburgh foundation prepares an intermediate sanctions review for the president position and other key employees, and submits the findings to the board chair for their review and approval during the 4th quarter of every year. The board chair requests both local and national benchmark data and the comparison data is shared with the board.”

“The organization makes its governing documents, conflict of interest policy, and financial statements available to the public upon request.”

“Ccat interpretation training: program service expenses 10,534. Management and general expenses 1,815. Fundraising expenses 0. Total expenses 12,349. Codefest application: program service expenses 4,834. Management and general expenses 833. Fundraising expenses 0. Total expenses 5,667. Economic impact: program service expenses 1,706. Management and general expenses 294. Fundraising expenses 0. Total expenses 2,000. Evaluation assessment: program service expenses 1,066. Management and general expenses 184. Fundraising expenses 0. Total expenses 1,250. Executive in residence: program service expenses 47,862. Management and general expenses 8,248. Fundraising expenses 0. Total expenses 56,110. Nonprofit planning: program service expenses 917. Management and general expenses 158. Fundraising expenses 0. Total expenses 1,075. Executive coaching: program service expenses 4,265. Management and general expenses 735. Fundraising expenses 0. Total expenses 5,000. Fiscal management: program service expenses 38,494. Management and general expenses 6,634. Fundraising expenses 0. Total expenses 45,128. Finance consultant: program service expenses 46,641. Management and general expenses 8,038. Fundraising expenses 0. Total expenses 54,679. Generative research: program service expenses 25,121. Management and general expenses 4,329. Fundraising expenses 0. Total expenses 29,450. Lean certification training: program service expenses 17,684. Management and general expenses 3,048. Fundraising expenses 0. Total expenses 20,732. Marketing/branding: program service expenses 37,959. Management and general expenses 6,542. Fundraising expenses 0. Total expenses 44,501. Policy writing: program service expenses 1,919. Management and general expenses 331. Fundraising expenses 0. Total expenses 2,250. Research/training: program service expenses 65,660. Management and general expenses 11,315. Fundraising expenses 0. Total expenses 76,975. Upprize initiative support: program service expenses 13,730. Management and general expenses 2,366. Fundraising expenses 0. Total expenses 16,096. Upprize project mgmt/outreach: program service expenses 14,586. Management and general expenses 2,514. Fundraising expenses 0. Total expenses 17,100.”

“Grant cancellations 98,758.”

“The board of directors assumes responsibility for oversight of the audit. This process has not changed from the prior year.”