Cantigny Foundation

“Cantigny foundation has retained kemper sports management, inc., an unrelated professional service provider, to operate and manage the cantigny golf and food and beverage operations under cantigny foundation's supervision and control. All of kemper's services must be performed in a manner that furthers the foundation's charitable and tax-exempt purposes, as determined in the sole discretion of the foundation, and that principle shall at all times override any profit motive of kemper sports management, inc. The agreement has a seven-year term with options for extension and certain early termination rights. The facilities remain the assets of the foundation, and the revenues and most expenses continue to be the foundation's; however, the employees of the golf and food and beverage operations are kemper employees.”

“The form 990 is prepared by an independent accounting firm, grant thornton advisors llc, in conjunction with management. After form 990 has been completed, the president & ceo reviews the document. If the president & ceo is satisfied that the return has been accurately completed in accordance with irs instructions, the return is reviewed for irs compliance by the foundation's legal counsel. Before filing the return, the significant 990 components and form changes are summarized for the audit committee of the board of directors, which reviews the draft return before it is shared with the full board of directors. The president & ceo and the tax preparer discuss and review the 990 tax return with management, and a copy of the return is provided to the board of directors in advance of filing.”

“Annually, the foundation's conflict of interest policy and annual disclosure statements are distributed to all benefit-eligible employees and board members. Conflict of interest disclosure statements must be completed each year by all benefit-eligible employees and directors and returned to the vice president of human resources (compliance officer) for review. If the compliance officer determines there is in fact a conflict of interest involving an employee, the matter is disclosed to the board of directors. Conflicts identified involving a board member are referred to legal counsel. Additionally, throughout the year, any third-party interactions that may give rise to the appearance of a conflict of interest must be reported to the compliance officer within one week of occurrence.”

“The ceo makes salary recommendations for officers and key employees to the board of directors based on performance evaluations, cost of living changes, market comparability data and budget constraints. Profiles are prepared for each officer and key employee including the individual's current salary, performance summary, market comparability data, and recommended salary for the following year. The board reviews the profiles and approves/disapproves the recommendations. Human resources prepares a profile for the ceo position; however, no salary recommendation is made. The board reviews the ceo profile, which includes market comparability, and discusses it along with performance and budget and agrees on an annual salary for the ceo. The board communicates in writing via email to human resources the salary increase for the ceo. The compensation process described above is done on an annual basis.”

“The foundation's conflict of interest policy and governing documents are available to the public upon request. The foundation's financial statements are available upon request and located on its website.”

“Other fees: program service expenses 3,365,991. Management and general expenses 1,345,528. Fundraising expenses 0. Total expenses 4,711,519.”

“Purchase card and accurals adjustment 184,007.”