Lagrange County Community Foundation Inc.

“When the draft copy is received from the CPA firm, the Foundation's office staff forwards a copy to the audit committee for review. The audit committee is comprised of the executive director, the Executive Committee and a local CPA, who is not on the Board of Directors and has no relationship with the Foundation, other than volunteering to serve on the audit committee. These individuals may contact the CPA directly with questions. The audit committee submits a written report to the Executive Director, who shares the report with the Executive Committee. The Executive Committee then makes a recommendation to the Board for approval. The Board also receives a copy of the return prior to filing with the IRS.”

“All employees and board members are required to complete a conflict of interest policy annually. Additionally, they are required to complete and sign a disclosure statement that enumerates all professional and personal affiliations to any/all organizations. The Executive Assistant reviews the signed statements. If there is a conflict, the member(s) abstain from voting. All of this is documented in the board minutes.”

“Line 15a The staff gathers prior or current year (whichever is available or most current) information from the following: (1) Compensation summary for Indiana community foundations from Indiana Grantmakers Alliance website. (2) Council of Foundations Grantmakers Salary and Benefit Report. (3) Indiana Department of Workforce Development Occupations & Starting Wages Report and Indiana Economic Growth Region. (4) Northeast Indiana community foundation region of 11 counties do a regional survey of salaries and benefits of all staff. This report is not done every year, but when available is very useful. The preceding documenatation is presented to the Executive Committee along with the proposed budget. The Committee reviews the data and makes a recommendation to the Independent board and the independent board approves/rejects the proposals. A copy of the board minutes, compensation summary reports and proposed budget (with salary proposal) is kept for records. Line 15b The organization did not compensate any other officers or key employees. Therefore, this question was answered no in accordance with the instructions.”

“LaGrange County Community Foundation, Inc. makes its governing documents, conflict of interest policy and financial statements available to the public immediately upon request through the Foundation's office. Additionally, the financial information is made available in its annual report, which is widely distributed to the public via mailings and other means of disbursement, as well as on the Foundation's website.”

“The organization has an executive committee made up of the officers of the board. The executive committee may exercise all powers and authority of the board of directors in the management of the business and affairs of the corporation between meetings of the board of directors except for adopting or approving the articles of incorporation, merger or consolidation, sale of assets, or the bylaws of the corporation.”

“Change in value of trusts 6,249.”

“The organization has a committee that assumes responsibility for oversight of the audit of its financial statements and selection of an independent accountant. This process has not changed since the prior year.”