Lenawee Community Foundation

“On july 28, 2016 the lenawee community foundation revised its bylaws to increase the maximum number of board members over the age of 21 from 13 to 16; to note that planned gifts for lenawee united way would go to the successor organization, which is the lenawee community foundation; to assure that donors' trustees, custodians or agents administer contributions 'according to the gift acceptance policy, and investment & spending policy in effect-; and to change the fiscal year of the foundation to the calendar year.”

“The form 990 was emailed to the entire board of directors on april 28 with an opportunity for review, questions or input. On may 8 the executive committee reviewed and approved the form 990 for submission to the irs. The form 990 will be ratified by the full board at its bi-monthly meeting on may 25, 2017.”

“Each member of the board of directors signs a conflict of interest statement and provides a list of disclosures where there may be a potential conflict of interest. Foundation directors abstain from voting when there is a possible conflict of interest, and it is documented in the minutes of the meeting.”

“The president and ceo's compensation is determined by conducting a formal written and verbal evaluation to determine if goals have been met;reviewing the budget to determine funds available for salaries; obtaining data on changes to the national cost of living; and reviewing comparable salaries as surveyed by the council of michigan foundations, the national council on foundations, and a local salary and benefits survey. The executive committee conducts the formal evaluation of the president & ceo, reports on this evaluation to the full board of directors, and makes a recommendation for the salary adjustment. The full board votes on any changes in salary.”

“Compensation for all employees other than the president & ceo, was determined by the president & ceo, after formal written and verbal evaluations, review of the monies available in the budget approved by the board, review of the cost of living adjustment, and reviewing comparable salaries for the positions in local, state and national surveys.”

“Governing documents, the conflict of interest policy, and financial statements are available to interested parties upon request. Additionally, the foundation includes a statement of financial position and a statement of activities in the annual report, and states that individuals can contact the foundation office to receive a full copy of the annual audit.”

“Expenditures related to agency activity 675,774 direct expenses related to fund raising 20,940 revenue related to agency activity -1,254,295 direct expenses related to fundraising -20,940 total -578,521”