Orange County Community Foundation

“A draft of the tax return is reviewed by the vp of finance and the president. Recommended changes are discussed with the preparer and reflected on the return. The revised draft is emailed to the audit committee for their review and comments received are discussed with the paid preparer and reflected on the return as deemed appropriate. The board receives a copy of the return prior to filing and any comments received are reflected on the return as deemed appropriate.”

“All board members, officers, and key employees are covered under orange county community foundation's conflict of interest policy and annually complete a conflict of interest form. In addition, the first agenda item for all board and board committee meetings is a declaration regarding any potential conflict based on the agenda. Any potential conflict is discussed at that time. Board members with a conflict are not permitted to vote or act on a related topic that would give rise to a conflict.”

“Compensation approval for the president includes the following: evaluations are completed by each member of the board; the independent compensation committee reviews the results of the evaluations and the comparability data obtained to determine compensation. The compensation committee then makes a recommendation to the board for approval. The approval is documented in the board minutes. This process was last completed june 9, 2015. Compensation for the vice president of finance is reviewed in detail by the compensation and finance committees and approved by the board. Comparable data is obtained and the approval process is documented. This process was last completed on june 9, 2015. Comparability data is reviewed for all positions to ensure compensation is within an acceptable range. In addition, annual performance evaluations are completed for all employees.”

“Form 990 is available on the organization's website and upon request. Form 1023 and 990t are available upon request.”

“The audited financial statements are available on the organization's website and upon request. The governing documents and conflict of interest policy are available upon request, and are emailed to the requestor.”

“K-1 pass through income -47,445. K-1 trust capital gains book/tax difference -2,908,343. K-1 trust investment income book/tax difference -9,393,558.”

“The orange county community foundation is accredited through the community foundations national standards board. National standards for u.s. Community foundations accredition represents operational effectiveness to foster excellence in community philanthropy.”