Putnam County Community Foundation Inc

“The putnam county community foundation has members which are defined in the bylaws. A member of the pccf is any person who contributes annually to the community foundation, either financially or by services rendered, has established a fund, or is recognized in the donor honor roll. There are three honorary classes of membership with varying levels in each that are based upon financial contribution: annual, cumulative, and founders club. All members have equal voting rights.”

“The powers and duties of the members are described in section 3.3 of the bylaws as follows: the members of this corporation shall 1)elect members of the board of directors as provided in section 5 3 ; 2) upon request of the board of directors, consult and advise with the board; 3) explain the purposes and operation of the corporation to the general public and seek to promote the corporation's growth; 4) advise the board of directors and the staff of the corporation of the resources, needs, problems and conditions existing in the community; 5) help the corporation, its directors, and staff in its activities and contacts in the community. In addition, the bylaws specify that three board members are appointed as follows: one member named by the greencastle city council for a three year term. The foundation board of directors may submit a list of candidates for their consideration. ; one member designated by the mayor of the city of greencastle for a three year term. ; and one member selected by the putnam county council for a three year term. The foundation board of directors may submit a list of candidates for their consideration.”

“Other than election of board members and approval of and changes to the by-laws, all powers, duties and function of the corporation conferred by the articles and incorporation, these by-laws, indiana statutes, common law, court decision or otherwise, are exercised, performed or controlled by the board of directors.”

“The 990 is reviewed by the full board prior to filing the return. A copy of the return is posted on the foundation's website.”

“Each employee, committee member, and director of the putnam county community foundation is charged with the responsibility to put the interests of the foundation and the community above personal interest. On occassion, a decision maker's other involvements - business interests, family relationships or political or other charitable activities - make it impossible for him or her to provide disinterested advice to the charity. Especially when the matter affects the financial interest of a decision maker, this duality of loyalties may become a conflict of interest. Affiliations of any of the above individuals will be disclosed annually in writing and maintained on file. Decisions about contracts, grants or scholarships shall further the mission and be in the best interest of the community foundation. Conflicts shall be disclosed verbally at meetings. In general, decision-makers shall recuse themselves from discussion if they have an interest in a matter before the board or committee. Decision makers shall abstain from voting in decisions where they have a conflict of interest. The decision making process and reasons for abstentions and recusals shall be clarely noted in the minutes.”

“The single most important responsibility of the board of directors is hiring, supporting, supervising, and compensating the executive director. The executive director shall be evaluated annually by the entire board of directors. Each board member submits an individual evaluation to the president on or before the date of the board meeting in october. The president compiles information and reviews it with the executive committee in november. Also reviewed is comparison salary informatoin for indiana and united states community foundations. The executive committee completes the summary report. At a board members only meeting, the president gives a report of discussion and decision of the executive committee to the entire board of directors in december. The president then meets with the executive director and shares evaluation information.”

“The ethical and operational standards manual includes governing documents, the policies of the corporation, the 990 and audited financial statements, and is available for inspection by the public at any time. In addition, the corporation makes its governing documents, conflict of interest policy, 990, and audited financial statements available on its website.”

“Sfas 136 adjustment -199,404. Change in split interest agreements 182,266.”

“The procedures that the finance committee takes annually did not change in the current year.”