Greater Twin Cities United Way

“Peter frosch, dominic iannazzo, matt marsh, and rob vischer - business relationship”

“The audit committee reviews the completed form 990 with management. The governance committee reviews and approves required governance disclosures included in the form 990. The executive compensation committee reviews and approves required disclosures regarding the process followed for determining compensation of the ceo and senior management included in the form 990. Once these reviews have been performed, the completed form 990 is made available to the board prior to its filing.”

“Every year, all board members and staff are required to submit a signed conflict of interest form to the governance committee. The governance committee reviews all submissions, and if necessary, follows up on any possible conflicts. If the conflict is deemed material, a board member would be asked to step down from the board of directors, per our bylaws. In the case of staff, staff are asked to eliminate any conflicts of interest as soon as management is made aware of them.”

“The chair of the board, chair of the finance and human capital committee and a designated executive committee board member serve as the executive committee compensation task force. Together they work with the organization's human resources executive to facilitate the ceo's performance review annually. The executive committee compensation task force solicits feedback relative to the ceo's performance results against the united way's annual strategic priorities, organizational metrics and individual performance goals, as previously agreed upon by the chair of the board and ceo. The executive committee compensation task force gathers feedback from each member of the board of directors and provides a recommendation for the ceo's compensation and bonus to the executive committee of the board for approval after aggregating and communicating performance results. Market comparability data is benchmarked from an external executive compensation consulting firm. Market comparability data includes compensation ranges and supplemental benefits established for the ceo and key executives - chief financial officer, sr. Vice president of community impact, senior vice president of advancement, vice president of individual giving and donor diversification, vice president of human resources, and vice president of diversity, equity & inclusion. Market comparability data is provided to the executive compensation task force prior to making recommendations and/or approving pay and benefits decisions. The executive compensation task force determines and recommends to the executive committee of the board of directors approval of the following: - ceo's total compensation and supplemental benefits, and - ceo's performance goals and objectives for the next performance evaluation period. The chair of the executive compensation task force reports to the board of directors at the subsequent meeting the actions reported and recommendations approved by the executive committee and executive compensation task force. The executive compensation task force documents the basis for making its determination concurrently with making its decision. The executive compensation task force reviews and discusses key executives' compensation and benefits based on the ceo's performance evaluation and recommendations for these executives. The executive compensation task force obtains a resonableness opinion from the external executive compensation consulting firm. The recommendations are then reviewed with the executive committee of the board of directors.”

“The united way makes its financial statements available to the public on its website as well as upon request. Governing documents and the conflict of interest policy are available upon request.”

“The community's most pressing needs and create lasting change for people in the greater twin cities region, with a mission to unite changemakers, advocate for social good and develop solutions to address the challenges no one can solve alone. United way's efforts in housing, food, education and jobs are guided by a vision of a community where all people thrive regardless of income, race or place. As the largest non-governmental investor in human services in the state, united way touches the lives of over 500,000 people each year across the greater twin cities. Over the past century, united way has invested more than $2 billion to support human services in the nine-county region of anoka, carver, chisago, dakota, hennepin, isanti, ramsey, scott, and western washington counties.”

“United way has had a growing role in administering government funds in recent years. In 2024, united way was awarded a contract from the state of minnesota department of children, youth and families to serve as the central payment administrator for the state's early learning scholarship program. Serving in this role is consistent with united way's belief that access to quality and affordable early childcare sets the foundation for academic success, positive health outcomes, and long-term prosperity. The contract totaled $159,873,267, of which united way, as the central payment administrator, will retain $2,000,000 for reimbursement of costs incurred to administer the contract with the rest of the funds being distributed to childcare providers across the state of minnesota. The state's early learning scholarship program increases access to high-quality early childhood programs for children, ages birth to four years old, with the highest needs. To access scholarship funding, childcare providers complete an invoicing process to receive direct payments for childcare services provided to families who have been awarded early learning scholarships. Below is a financial summary of the total funds expended during the year ended december 31, 2024: total contract $159,873,267 use of funds in 2024: costs to administer grant funds $1,031,975 scholarships disbursed to providers $39,318,989 total funds expended $40,350,964 funds remaining as of december 31, 2024 $119,522,303 in its role as central payment administrator, united way is acting as an agent in distributing the scholarship funds to childcare providers. Therefore, these scholarship funds are not recorded as revenue or expense to the united way on the statement of activities. The $1,031,975 in expenses incurred to administer the scholarship funds has been recorded as grant revenue from the state of minnesota in grants and other revenues, with the corresponding expense included within supporting services on the statement of activities. Between the inception of the contract on july 1, 2024 and december 31, 2024, united way successfully: - disbursed $39,318,989 in childcare scholarship funds. - processed 10,369 childcare provider invoices for payment. - served 10,080 children. - supported 1,307 childcare providers and programs.”

“Change in fair value of beneficial interest in charitable trusts 146,645.”