Kentuckianaworks Foundation Inc.

“The form 990 is reviewed by internal management. A copy of the form 990 is provided to the entire governing body prior to filing.”

“Annually, board members must complete a financial disclosure statement and return it to the louisville metro government. After disclosure of the financial interest and all material facts, and after any discussion with the interested person, he/she shall leave the governing board or committee meeting while the determination of a conflict of interest is discussed and voted upon. The remaining board or committee members shall decide if a conflict of interest exists. After exercising due diligence, the governing board or committee shall determine whether the kentuckianaworks foundation can obtain with reasonable efforts a more advantageous transaction or arangement from a person or entity that would not give rise to a conflict of interest. If a more advantageous transaction or arrangement is not reasonably possible under circumstances not producing a conflict of interest, the governing board or committee shall determine by a majority vote of the disinterested directors whether the transaction or arrangement is in the kentuckianaworks foundation's best interest, for its own benefit, and whether it is fair and reasonable. In conformity with the above determination it shall make its decision as to whether to enter into the transaction or arrangement.”

“No compensation is paid by the organization to the executive director. Lashala goodwin, executive director of kcac, is paid by ahead human resources and her compensation is transferred to the organization. The ceo and the cfo to the organization are paid by the parent organization, kentuckianaworks, which is an agency of metro louisville government. The methodology for determining the compensation for the ceo, cfo and the executive director of kcac do meet the requirements outlined in this question.”

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

“Administration: program service expenses 46,931. Management and general expenses 2,996. Total expenses 49,927. Other services: program service expenses 12,458. Total expenses 12,458. Contract labor: program service expenses 1,288,352. Management and general expenses 83,174. Total expenses 1,371,526.”