Cicp Foundation Inc.

“The bylaws were amended to provide for a seven member executive committee and cicp foundation board effective 2015.”

“The 990 will be reviewed by the full cicp foundation board at its july 2015 meeting.”

“Each director, officer, and staff member annually receives a conflict of interest questionnaire through which he or she is asked to confirm or report the following: (i) that he or she has read and understands cicp foundation's conflict of interest policy (which imposes upon directors, officers, and staff a continuing, affirmative duty to report any personal ownership, interest, or relationship that might affect his or her ability to exercise impartial, ethical, and business-based judgments in fulfilling their responsibilities to cicp foundation); (ii) that he or she is in compliance with the policy; (iii) that he or she is reporting (with his or her completed questionnaire) all actual or potential conflicts of interest that arise as a result of his or her role with cicp foundation, and each position that he or she holds as a director, trustee, officer, or employee of any other nonprofit organization; and (iv) that he or she will report promptly any changes in the information reported in his or her questionnaire or in any other matters that might affect compliance with the policy. The executive assistant to the ceo collects and reviews the questionnaires as they are returned, alerts the ceo and cfo to any conflicts that have been reported, and makes sure that all who are required to complete a conflict questionnaire have done so. When an individual reports an actual, potential, or perceived conflict of interest, cicp foundation follows the procedures outlined in its policy for disclosure of conflicts to the applicable body of decision-makers and recusal of individual(s) with conflicts from the decision-making process. Pursuant to the policy, the cicp foundation board is responsible for the oversight of, and action regarding, all disclosures and/or failures to disclose.”

“Compensation for cicp foundation's ceo (who is employed by central indiana corporate partnership, inc.) is determined as described in the cicp form 990. The process (as also described in the cicp form 990) is as follows: the president/ceo of cicp, david l. Johnson, is also the president of the biocrossroads initiative. His performance and compensation is reviewed, analyzed and set by two groups: (1) the cicp executive committee, and (2) the biocrossroads executive committee. The two-part review process begins with the biocrossroads executive committee, which uses a distinct set of comparables to the compensation of other executives in similar positions in other organizations, as well as a separate review of compensation for the role of president of biocrossroads (as further described in the following paragraph), to arrive at a salary figure. This figure is allocated as a part of the compensation for the role of president/ceo of cicp and effectively determines fifty percent (50%) of johnson's overall salary. The process then moves to the cicp executive committee. There is an overlap of cicp members who are on both the biocrossroads executive committee and the cicp executive committee. The cicp executive committee undergoes and completes its own compensation review process (as described in more detail in the following paragraph), and then, taking into account the salary figure from the biocrossroads executive committee, determines the compensation for the role of president/ceo of cicp and johnson's resulting overall compensation. Several key employees are reviewed by their respective executive committees or designated subcommittees, which includes cicp's ceo, on an annual basis. Each individual submits a written self-assessment to the appropriate committee prior to the meeting at which compensation is addressed. The committee receives a list of compensation comparables from the cicp cfo. The list compares each employee's compensation against that of other executives in similar positions in other organizations and presents the compensation history for the individual. At the meeting, the individual may review the self- assessment with the committee. The committee then reviews the list of comparables and determines any compensation adjustment to be made. The chairman of the reviewing committee and one other member meet with the individual and review the conclusions of the group regarding performance and compensation adjustment, if any. The compensation terms and results of the meeting are documented and forwarded to cicp's cfo and ceo. The documentation reflects (i) the date on which the compensation was approved, (ii) the members of the committee who were present and voted on the compensation terms, (iii) the comparability data that was obtained, reviewed, and relied on by the committee (and how the data was obtained and used), and (iv) any recusal or withdrawal by a member of the committee who had a conflict of interest with respect to the compensation (the last point is an unlikely scenario).”

“The organization makes its governing documents, conflict of interest policy, and financial statements available to the public upon request.”

“Website: www.cicpindiana.com the website listed is that of the foundation's supported organization and only a portion of the information on the site describes the foundation's programs.”

“Other expenses: compensation arrangement: central indiana corporate partnership, inc. (cicp) is affiliated with cicp foundation, inc., a 501(c)(3) corporation and bc initiative, inc., (bci) a for profit c corporation. Cicp employs all who work for the three entities. Based on information provided by the foundation and bci, cicp allocates salary and benefit costs to the foundation and bci and is regularly reimbursed for those costs. Administrative expenses incurred by cicp for the benefit of the other two entities also are reimbursed. Similarly, if either of the other two entities incurs expenses that are allocated to cicp, cicp provides reimbursement.”

“Committee oversight of audit: the board of directors assumes responsibility for oversight of the audit of its financial statements and selection of an independent auditor. The process has not changed from the prior year.”

“Basis of accounting: modified cash basis as employed by cicp and cicp foundation for the consolidated financial audit is as follows: cicp and cicp foundation recognize cash receipts that are designated for current year operations when received. Thus, multi-year pledges are not recorded as income until the cash is received. Cash received for multi-year grants is recorded as deferred income and is recognized as income when associated expenses have been incurred. Expenses are accounted for using the gaap accrual method.”