The Findlay-Hancock County Community Foundation

“The board was provided a copy of the form 990 to review except for schedule b prior to filing the form 990. The board was given the opportunity to ask questions and provide comments about the form 990 to the chief financial officer and/or the president.”

“Annually officers, trustees, committee members, and employees are provided a copy of the foundation's "conflict of interest, confidentiality, and ethical principles policy". Each person that receives the policy is asked to sign a statement of affirmation regarding the policy and complete a questionnaire disclosing any conflict of interest. All questionnaires are reviewed by the board chair, president, and the finance officer for any possible conflicts.”

“Line 15a: the board of trustees actively monitors and evaluates the president. The board chair and vice chair comprise the personnel committee. The personnel committee reviews salary and benefit reports and surveys from the council on foundations and forms 990 of similar nonprofits. Every three years the organization hires a consultant to conduct a salary review. Base salary considers the contribution of each position to the foundation's overall goals. It also reflects the competitive compensation philosophy in the context of the foundation's role as a community and philanthropic leader. The foundation targets salary range midpoints to the market average for each specific market in which it competes. Relative internal values for positions are determined through the use of the following methodology: *scope & impact - the breadth of the job and impact of the actions of the imcumbent within and outside the foundation. *latitude of action - the extent to which the position gives the incumbent freedom to make decisions and authority to take actions without prior approval of the supervisor. *working relationships - the extent to which effective contacts with people inside and outside the foundation are essential to performance in the position. *decision making - the complexity of decisions required, the number of factors the decision maker must take into account, the level of individuals involved, the time pressures, the consequences or impact of the decision, and the frequency with which decisions have to be made. *knowledge and skill - the extent to which professional qualifications, experience, and skills are required to carry the responsibilities of the position. *market analysis - the actual pay for jobs of similar scope and content in the selected market. Compensation is deemed "reasonable" if the amount paid would ordinarily be paid for like services by like enterprises under the circumstances. Line 15b: the same sources of information noted above are utilized to determine reasonable compensation and benefits for other employees. The board approves compensation as part of the annual budget process.”

“The organization's consolidated audited financial statements are provided to anyone who requests them. The organization's annual report which is mailed to fund representatives and a large number of donors includes a condensed consolidated statement of financial position and statement of activities. The board approves the operating budget for the following year in november. Quarterly, both the finance & investment committee and the board review internally prepared financial statements and year-to-date actual compared to year-to-date budgeted operating amounts. Quarterly the finance & investment committee meets with the organization's investment advisor to review investment results. The organization has a policy regarding the public availability of its governing documents and conflict of interest policy.”

“Line 9 - other changes in net assets include the following amounts not -2,259,143. Reported on form 990 parts viii & ix: change in value of split interest agreements - ($2,235,503), returned grants - $8,360, writedown of promissory note - ($32,000).”

“The audit committee is in charge of the oversight of the audit and selection of an indepedent accountant. The audit committee did not change its oversight process or selection process. The audit committee hired a new audit firm in 2009 for the 2009 through 2011 audits. In 2012 a two year extension of the audit engagement was approved. The prior audit firm had performed the organization's audits for the prior nine years.”