Iowa Council of Foundations

“Accounting services of the organization are provided by diversified management services.”

“The membership shall consist of any charitable foundation or trust, the principal function of which is the making of charitable grants and which either has its principal office in the state of iowa or makes grants for charitable purposes within the state. Also eligible for membership are banks excercising trust functions, trust companies which administer charitable giving programs or foundations and corporations having charitable grantmaking programs.”

“Member organizations elect board members, who are associated with a member of the organization, at the annual meeting.”

“A draft form 990 was received and reviewed by the board of directors prior to form 990 being filed with the federal government.”

“Any board or staff member must disclose any actual or possible conflict of interest to those considering the proposed action. After a disclosure is made, the individual disclosing a conflict should leave the meeting while the remaining board members determine if there is an actual conflict of interest. This will be done by a formal vote of those in attendance. Each interested person of the board shall sign on an annual basis a statement which affirms that they have received a copy of the conflict of interest policy, they have read and understood the policy, they have agreed to comply with the policy and they understand that the icof is a charitable organization that must engage primarily in activities which accomplish one or more of its tax-exempt purposes.”

“When determining the presidents compensation, the full board led by the board chair, who are independent, consider job requirements and responsibilities, comparisons with peer organizations nationally and regionally, and the icof's financial capacity. Salary ranges and benefits are reviewed periodically and adjustments may be made according to market changes.”

“The iowa council of foundations' governing documents, policies, and financial statements are available upon request or available on the guidestar website. These documents are available for the same period of time as described in internal revenue code section 6104(d) for other public disclosure documents.”

“To strengthen and promote organized philanthropy in the state of iowa; to assist and educate its membership in order to promote and facilitate effective philanthropic grantmaking; and to provide a forum for the exchange of information on philanthropic programs and issues.”