Rochester Area Foundation

“The executive committee is made up of the officers of the board of directors. The president of the rochester area foundation serves as an ex-officio member. During the intervals between meetings of the board of directors, the executive committee shall exercise all powers of the board of directors in the management and direction of the business and conduct the affairs of the foundation. No policy or action adopted or taken by the executive committee shall continue effective unless approved at the next meeting of the board of directors.”

“An electronic copy of form 990 is provided to the board of directors for review prior to filing with the irs.”

“Officers, directors, trustees, and key employees are annually required to fill out and sign disclosure form. They must also verbally indicate whether a conflict exists and abstain from voting at board meetings. Conflicts are reviewed by staff and any potential conflicts are brought to the chair of the board for review and discussion.”

“The compensation of the executive director of the rochester area foundation is determined by the executive committee of the board of directors using comparability data from the council of foundations. The compensation of the organization's officers and key employees is determined by the executive director of the rochester area foundation using comparability data from the council of foundations and increases are based on merit.”

“Governing documents, conflict of interest policy and/or financial statements may be obtained by the public on the organization's website or upon request for the same period of disclosure as set forth in section 6104(d).”

“All payroll is processed, and employment taxes are reported by rochester area foundation. A portion of compensation is charged to first homes properties, a related organization, and is reported as paid by a related organization, on form 990, part vii.”

“Professional fees: program service expenses 145,230. Management and general expenses 108,150. Fundraising expenses 55,620. Total expenses 309,000. Administrative fee: program service expenses 165,307. Management and general expenses 123,100. Fundraising expenses 63,308. Total expenses 351,715. Contract labor: program service expenses 3,234. Management and general expenses 2,408. Fundraising expenses 1,238. Total expenses 6,880.”

“Change in value of split interest 57,407.”

“The finance committee has the responsibility for oversight of the audit and selection of an independent accountant. The process has not changed from the prior year.”