Petco Love Fka the Petco Foundation

“The executive committee of the board is the chair, vice chair, president, secretary, and treasurer. The committee shall have all authority of the board except as outlined in the bylaws.”

“The following board members have a business relationship with petco love: susanne kogut, whitney miller, jack stout, justin tichy, joe venezia, and jenny wolski.”

“Line 3 explanation - and part vii, section a: petco animal supplies, inc. ("petco"), an unrelated corporation, provides management services to petco love under a resource sharing and services agreement. The parties believe that the sharing of petco's resources and services allows petco love to carry out its charitable mission most efficiently. Petco love reimburses petco for the costs of the certain resources and services, including compensation, reasonably attributable to petco love in accordance with the agreement. The executive committee of the petco love board of directors annually reviews the compensation of the president and the senior management team of the organization, including a review of comparative data for similar peer organizations, and determines reasonable compensation warranted after review and discussion of materials. Compensation amounts are due to petco along with other service fees under the terms of the resource sharing and services agreement. Calendar year 2024 payments totaled $7,356,154. For the calendar year 2024 the following petco employees provided services as officers of petco love on a compensated basis and these amounts are included in the above total: susanne kogut president/executive director reportable compensation $416,858 other compensation $8,878 caroline childress cfo reportable compensation $223,858 other compensation $4,345”

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

“Form 990 is prepared by an outside tax preparer and reviewed by management of the organization and reviewed and approved by the audit committee. Prior to the filing of the form 990, a final copy is presented to the board of directors for review and comment.”

“Petco love's conflict of interest policy applies to directors, officers, key persons, and committee members. Covered individuals must disclose any financial interests in proposed or ongoing transactions. The board or a committee, without the interested party, determines if there is a conflict. If a conflict is found, the interested person cannot participate in discussions or votes related to the transaction. The board or committee may appoint a disinterested party to investigate alternatives and will decide if the transaction is fair and in the organization's best interest. All disclosures, determinations, and votes are documented in meeting minutes. Individuals receiving compensation from petco love cannot vote on matters related to their own compensation. Annual disclosure statements are required, and periodic reviews are conducted to ensure compliance with charitable purposes and tax-exempt requirements.”

“Governing documents, conflict of interest policy, and financial statements are made available to the public upon request. Copies of previously filed returns are made available on the organization's website.”

“An unrelated orgnization, petco animal supplies, inc. ("petco"), is a common paymaster for related and unrelated entities (as defined in form 990, schedule r). The compensation for the officers of the filing organization is reimbursed to petco. Under the services agreement, the parties have carefully maintained and continue to maintain separate corporate identities, existences, operations, finances, and headquarters. Petco love's board retains control over the organizations governance, policies, budget and contract approval, mission, and programs to preserve the independence and tax-exempt status of the organization.”

“Reversal of grant expenses 500,799.”

“The beginning date of the fiscal year reported is may 5, 2024. However, due to electronic filing requirements that would not accept the date, we have adjusted for filing purposes to april 28, 2024. This 990 is consistent with our fiscal year and our audit. To file with a different fiscal year that is not recognized as our fiscal year would be confusing to the reader and inconsistent with all prior 990 filings of the organization. Therefore, we have adjusted as any differences in this filing would be immaterial to the financial positions as presented.”