Montgomery County Chamber Community Foundation Inc

“The form 990 was prepared by independent tax preparers and reviewed by management prior to filing.”

“The organization has a written conflict of interest policy that must be signed by all parties (staff, board, officers, and volunteers) at the beginning of the term of services. Failure to sign does not nullify the policy. The policy states that the member must fully disclose, at the earliest opportunity, information that may result in a perceived or actual conflict of interest or information of fact that would have significance in board decision-making. In case of a comflict of interest the board member recuses him or herself from voting on the issue.”

“The foundation shares employees with the montgomery county chamber of commerce, another non-for-profit organization with which it shares common goals. For tax purposes, the two organizations are not considered related. The montgomery county chamber of commerce's compensation practices are as follows: compensation of the organization's president and ceo is decided by the board of directors. This process includes the use of comparability data. The decision is documented and is kept in the personnel file. Compensation for all other key employees and staff is determined by the ceo as written in the organization's by-laws. The process includes the use of comparability data. The last salary review occurred in august 2019.”

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

“The president, treasurer and secretary are compensated as employees of the foundation, not respective to their roles as officers on the board of directors. Montgomery county chamber of commerce (mccc) and montgomery county chamber community foundation (mcccf) have entered into a cost-sharing arrangement whereby mcccf reimburses mccc, the common paymaster for the two organizations, which issues the w-2s, for mcccf's allocable share of the compensation of certain employees for services provided for mcccf. The two organizations are not "related organizations" as that term is defined in the form 990 glossary. Part vii, section a reflects the compensation allocated to mcccf.”

“Catering & facility service: program service expenses 224,544. Management and general expenses 967. Fundraising expenses 147. Total expenses 225,658. Consulting services: program service expenses 43,825. Management and general expenses 3,024. Fundraising expenses 0. Total expenses 46,849.”