Saint Paul & Minnesota Foundation

“Paul snyder and christopher hilger - business relationship scott burns and kathy tunheim - business relationship”

“The form 990 was submitted to the audit and finance committee on july 19, 2019 for review and acceptance prior to submission to the irs. The full board of directors is then provided a copy of the 990 prior to its sumbission to the irs.”

“The foundation has established a code of business conduct policy. This policy covers the areas of compliance, discrimination and harassment, confidentiality, conflict of interest and ethical principles. The policy applies to all staff, board and board committee members (representatives). Annually, representatives are required to sign a form declaring that they have read, understood and agreed to abide by the cobc. All representatives are also required to annually complete a conflict of interest form, declaring any relationships they may have that could pose a conflict with their role as foundation representative.”

“Ceo compensation and benefits: the saint paul foundation utilizes an outside third party consultant to conduct a custom survey to provide market benchmarking relative to the foundations' ceo position. The compensation survey is generally conducted every two years. The objective of the survey is to determine the level of compensation that would be considered competitive for the foundations' ceo compared to top executives of other foundations with particular attention to those of similar nature and asset size. The comparator group, currently twenty local and national organizations, is reviewed by the board chair and executive committee. The comparator group reflects organizations with similar asset size, complexity of work and potential recruitment market. To determine appropriate pay levels for the various roles at the foundations, we analyze compensation data from both local and national comparable foundations and other not-for-profit organizations with whom the foundations may compete for talent. We target the market median (or 50th percentile) of the respective market data, understanding that adjustments either above or below median may be made based on the individual employee's experience, time in role, and contributions and accomplishments; in addition to market conditions and financial affordability. Benefit survey data is generally collected every two years and focuses on benefits provided exclusively to the ceo and top executives. Staff compensation: a comprehensive review of staff compensation using local industry and national community foundation survey data is generally conducted every two years. The objective of the comprehensive review is to determine comparable market pay for individual positions. From survey results, the mean (average) salary is defined as the market reference point (mrp). Minimum and maximum pay for each position is set at -/+ 20% of mrp, and pay is considered competitive when it is within 10% of a position's mrp. If a position is unique to the foundations, the mrp will be based on comparison to similar internal benchmarked positions.”

“The foundation has posted its audited financial statements, governing documents, and conflict of interest policy (as part of its code of business conduct) on its website at www.spmcf.org.”

“All officers, directors, trustees and key employees can be reached at the foundation's address with the exception of wei huang. Wei huang - 1 auto club drive, dearborn, mi 48126”

“Vision: minnesota...where all communities and people thrive. Values: lead with respect--act with integrity--advance equity--embrace collaboration--strive for excellence--spark innovation. A new strategic plan was approved in 2019 which amended our mission, vision, and values as follows: purpose: we inspire generosity, advocate for equity and invest in community-led solutions. Aspiration: we envision an equitable, just and vibrant minnesota where all communities and people thrive. Values: we listen. We innovate and learn. Community is our compass. We commit to equity. We nurture philanthropy. Since 1940, thousands of generous individuals committed to the saint paul area have made charitable gifts to the saint paul foundation. Today, the foundation is the state's largest community foundation. Guided by the legacy of its earliest donors, the foundation helps donors achieve their charitable giving goals and have long-lasting impact in the community. The foundation is an affiliate of the saint paul and minnesota community foundations. Learn more at spmcf.org. On december 5, 2018, the board of directors approved a merger of the saint paul foundation and minnesota community foundation, effective january 1, 2020. The two foundations have been operating in alignment for several years, sharing staff and since 2008 governed by one common board of directors. The activites of the respective foundations will continue after the merger as they have in the past - honoring donor intent and legacies, and continuing to address the needs of communities previously served by the two foundations. After the merger date, the combined foundation will continue to operate as the same consortium of trusts and funds under the same board of directors and management.”

“The saint paul foundation has filed an extension to file the 990-t. The foundation has not received all k-1's from its investments. An accurate 990-t cannot be filed until all k-1's have been received. Presently, the foundation is estimating to have a ubi loss passed through from its investments and has not reported any amounts on part i line 7a or 7b.”

“Change in value of split interest agreements 857,865.”