The Community Foundation of Louisville Inc.

“A draft of the return is reviewed first by internal management. After internal management has reviewed the return and any changes are made a draft is provided to the finance committee for review and a copy is provided to the entire board. Once the comments from the board are reviewed the final draft of the return is prepared and signed by the chief financial officer.”

“Each board member, volunteer and staff member is requested to provide annually to the president of the foundation a list of offices and directorships he or she holds in charitable and business organizations, and to identify his or her place of employment or principal business activity. Board members, volunteers and staff members should also disclose a conflict of interest: - prior to voting on or otherwise discharging his or her duties. - prior to entering into any contract which comes before the board or any committee; - as soon as possible after the individual learns of a conflict of interest in any other context. Disclosure should be made to the board chair, president of the foundation, or in the case of a committee, to the chairperson of that committee. The minutes of the meeting should reflect that appropriate disclosure was made, and that the interested party abstained from voting.”

“The organization has a compensation committee that annually reviews industry survey information to determine a fair and reasonable compensation for the officers and key employees. The president's and officers' compensation is then approved by the compensation committee. Compensation for all employees is approved by the compensation committee and board.”

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

“The process has not changed from prior year. The community foundation of louisville is audited as part of the community foundation of louisville combined group. The community foundation of louisville is included in the community foundation of louisville combined financial statements. The organization has an audit committee that oversees the audit of the financial statments and the selection of the independent auditor for the combined group.”