Cicp Foundation Inc.

“The 990 will be reviewed by the cicp foundation board members at their july 2020 meeting. The return will be filed some time after the 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'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); (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, 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 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 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 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: david l johnson serves solely as the president and ceo of cicp on a full time basis. His performance and compensation is reviewed, analyzed and set by the cicp executive committee. The cicp executive committee undergoes and completes its compensation review process (as described in more detail in the following paragraph) and determines the compensation for the role of the president/ceo of cicp. Several key employees are reviewed by their respective executive committees or designated subcommittees on an annual basis, uncluding 2019. Each year each key employee 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 as well as the compensation history for the individual. At the meeting, the individual may review the self-assessment with the committee. The information provided is used to determine 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. The documentation usually 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.”

“All required federal employment tax returns for cicp foundation are filed by central indiana corporate partnership under the compensation arrangment as referenced for form 990, part ix, line 24(a).”

“Other expenses: compensation arrangement: central indiana corporate partnership, inc. (cicp) is affiliated with cicp foundation, inc., and 16tech community corporation (16tech), 501(c)(3) corporations, bc initiative, inc., (bci), cleantech systems solutions (css) and ascend indiana strategies (ais), for profit c corporations. Cicp employs all who provide services to the six entities. Based on information provided by cicp foundation, ais, 16tech, css, and bci, cicp allocates salary and benefit costs to the foundation, ais, 16tech, css, and bci, and is regularly reimbursed for those costs. Cicp has a shared services agreement with cicp foundation. Cicp employees may work on programs funded through cicp foundation. In most cases the time spent would be allocated to cicp foundation and reimbursed to cicp. Employee time spent on for-profit affiliated entities is always reimbursed.”

“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 foundation for the consolidated financial audit is as follows: cicp foundation recognizes 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.”