Greater Des Moines Partnership

“The organizations board is comprised of a large number of individuals from many different businesses in the region. The organizations represented on the board operate in a number of industries and serve a broad range of customers. As such, the various organizations represented by the board members have ordinary and usual business relationships with certain other organizations also represented on the board. Those relationships are all in the ordinary course of business and do not create conflicts of interest relative to the work of the organization.”

“The form 990 information was compiled by the organizations chief administrative officer, with support from its independent tax preparer. The review of the information ensured the accuracy of the data, along with compliance with irs requirements. The form 990 was reviewed in detail by the organizations finance committee to ensure its accuracy, transparency, and completeness. The form 990 was provided to all board members for their review.”

“Each year, members of the board of directors, along with officers, key employees, and all employees, review the conflict of interest policy. The policy requires that each individual acknowledges having received the policy, that theyve read and understood the policy, and agree to comply with the policy. Specifically, the board members are required to disclose any potential conflicts of interest related to transactions involving the organization, which the board member may have a direct or indirect interest. In the event a potential conflict of interest arises, meeting minutes shall document the disclosure and steps taken to resolve, in order to conform to the policy. This affirmation to comply with the policy in carrying out board duties is made on an annual basis. With respect to employees, all employees similarly disclose on an annual basis any apparent or actual conflicts of interest. That information is reviewed by the officers of the organization in order to determine whether a conflict of interest does or may exist. According to the policy, if upon review of these disclosures, a conflict of interest does exist, a management plan will be developed and implemented to resolve the conflict of interest. During the year, there were no conflicts of interest identified for board members or for employees. Consistent with prior years, the annual affirmation was again conducted as of the first of the year.”

“The organizations presidents compensation is reviewed annually. The review involves the utilization of an independent consultants review of comparable compensation information based upon local and regional consideration of similar positions, and taking into account national information for similar organizations. This analysis, combined with the performance assessment of the ceo is used to determine the extent of any compensation adjustments. The performance review and consideration of compensation level was undertaken by the compensation committee of the organization, which reports to the board of directors. The process reflects a documented and thorough review undertaken by independent individuals.”

“For other officers and key employees of the organization, the ceo conducts a performance review which was made available to the compensation committee of the organization. In addition, the president routinely consults an independent consultant in order to ensure compensation levels for those positions are appropriate, defensible, and can be substantiated.”

“The organizations financial statements are available to the public upon request. In every situation where the statements were requested, the financial statements requested were provided. Similarly, when governing documents such as articles of incorporation are requested, those have been shared. There have been infrequent requests for these documents, but in every case, information is shared as requested.”

“K-1 investment income included in misc. Program service revenue 2,584 k-1 investment income included in investment income 119,593”

“K-1 income in return but not in book income -122,177”