Little City Foundation

“The tax return is reviewed by the controller and cfao, then by the executive director and board.”

“In support of little city foundation's commtment to operating with legal and ethical integrity, little city foundation has a conflict of interest policy that applies to all staff and board members, their famiy members and agency volunteers. Members of the board and staff members are under a continuing obligation to disclose any actual or potential conflict of interest as soon as it is known or reasonably should be known. Disclosure statements for board members are to be provided to the president of the board with copies to the executive director, disclosure statements for staff are to be provided to the executive director or in the case of the execut1ve director, are to be prov1ded to the president of the board. When there is reason to believe there is an actual or potential conflict of interest, the board of directors will determine the appropriate organizational response. Where the actual or potential conflict involves a staff member other than the executive director, the executive director is responsible for reviewing the matter and taking appropriate action as necessary to protect the interests of little city foundation. The executive director shall report to the president the results of any review and the action taken. The president, in consultation with the executive committee, shall determine if any further board review or action is required. Where an actual or potential conflict exists between the interests of little city foundation and a director or staff member with respect to a specific proposed action or transaction, little city foundation shall refrain from the proposed action or transaction until such time as the proposed action or transaction has been approved by disinterested members of the board of directors. The director or staff member who has an actual or potential conflict should disclose that conflict before the board of directors takes action on the matter. A director or staff member who has an actual or potential conflict of interest with respect to a proposed action or transaction of little city foundation shall not participate in any way in, or be present during, the deliberations and decision making of little city foundation with respect to such action or transaction. The disinterested members of the board of directors may approve or disapprove the proposed action or transaction after deliberation and consideration of the best interests of little city foundation. Action by the disinterested members of the board of directors shall be pursuant to the voting procedures outlined in the little city foundation by-laws.”

“On an annual basis, an independent consultant provides compensation survey results to select board members on the human resources subcommittee of the od&g committee and to the executive committee. Survey results are used to establish the compensation level for the executive director and key employees. The survey results, recommendations from compensation consultants and compensation decisions of the board members are documented and maintained.”

“The governing documents, conflict of interest policy and financial statements are avaiable upon request for the same period of disclosure as set forth in irc section 6104(d).”

“Increase in value of beneficial interest in irrevocable trust 38,079. Excess of assets acquired over liabilities 6,234,482.”

“The process has not changed from previous years.”