The Greater Cedar Rapids Community Foundation

“The by-laws were amended to add the following provision: any action that is required or needs to be taken at a meeting of the board of directors may be taken wihtout a meeting if a majority consent is given, whether in writing, by telephone or email. All such actions will be reported in board meeting minutes or agendas and made part of the community foundation's permanent record. Email responses will be stored as part of the community foundation's files.”

“The form 990 is prepared by an independent accounting firm and reviewed in detail by the organization. A copy of the organization's final form 990 is provided, in electronic form, to each voting member of the governing body of the organization prior to filing with the irs.”

“Board members, investment committee members, grantmaking and community leadership committee members and employees complete and sign a conflict of interest declaration at the beginning of each year. Grant committee members complete and sign conflict of interest declarations at each grant committee meeting. For grant approvals sent electronically to the executive committee, conflict of interest declarations are made when each member votes. For grants approved at board meetings, board members complete and sign conflict of interest declarations before voting.”

“Line 15a) the process for determining the compensation of the organization's president & ceo includes an annual review process based on the individual's and organization's performance and salary benchmarking data from the council on foundations. The process is conducted by the executive committee and reviewed by the full board in an executive session. The board chair emails the cfo the review process and agreed upon compensation. The email is filed in the president & ceo's personnel file. Line 15b) the process for determining the compensation of other officers includes an annual review process based on the individual's and organization's performance and salary benchmarking data from the council on foundations. The process is conducted by the president & ceo. A year-end review form is completed and signed by the president & ceo and the officer being evaluated. The form is filed in the officer's personnel file.”

“The following documents are available to the public upon request. - articles of incorporation - by-laws - conflict of interest policy - financial statements (also available on the organization's website).”

“Actuarial adjustment on annuities and unitrust agreements 103,524. Adjustment for transfer of funds to amounts held on behalf of other -1,454. Adjustment for interaccount transfers -50,987.”

“No changes has been made to the oversight process or selection process during the tax year.”