Iowa 4-H Foundation

“A copy of the 990 is shared with the executive director for review, approval and signature (with significant input from the staff accountant) before it is filed. A copy is also shared with the board of trustees for review and discussion with the accounting firm that prepared the 990 during a january board meeting prior to filing.”

“The 4-h foundation's current conflict of interest policy was adopted in 2011. Officers, trustees and employees annually disclose potential conflicts of interest of themselves and their families on a questionnaire distributed by the executive director. The executive director ensures that all questionnaires are completed, reviews them for conflicts, and submits to the board to review any questionnaires that disclose actual or potential conflicts.”

“Compensation for all employees except the executive director is determined annually with a performance appraisal for each employee by the executive director, a survey of the compensation in similar positions in related or like non-profit organizations, and the determination of the new rate of compensation after a review of similar isu positions and annual salary adjustment parameters. Compensation for the executive director is determined and approved annually by the personnel committee of the board. A performance review and compensation survey of like-sized iowa non-profits and other state 4-h foundations are used to determine compensation adjustments.”

“The iowa 4-h foundation makes its governing documents, conflict of interest policy and financial statements available to the public upon request, either verbally, in person or in writing, from its offices in the extension 4-h youth building. Additionally, certain financial documents (including annual reports, audit reports and tax forms) are available on the foundation's website: www.iowa4hfoundation.org”

“The 4-h foundation has up to 32 individual trustees serving as unpaid volunteers on its board at any one point in time. Many of them live and work in iowa, and in their day-to-day jobs come in contact with many other individuals, including other trustees, as they conduct their normal business in the agri-business, communications, construction, manufacturing, health-care, and educational sectors of the state's economy. The past presidents and current board officers are also asked to recruit new trustees to the board, and it is natural for them to recruit individuals they know and respect from their existing business networks.”

“The 4-h foundation has delegated investment of its endowment funds to the community foundation of greater des moines (cfgdm) and the fund managers of cfgdm, endowments to iowa state university (isu) treasurer's office to isu, and those held by hills bank to the fund managers of hills bank and trust company. The endowments held at isu are overseen by the iowa board of regents (regents) under delegation from the state of iowa according to isu's investment policy. The endowments with isu are invested in accordance with the regent's directives in a "long term investment pool." the goal of this pool is to maintain and preserve over time the real (i.e. Net of inflation) value of the funds with the intent of obtaining the highest possible total return (current income plus net realized and unrealized appreciation) without exposing the pool to levels of volatility that might signifcantly affect the principal value of the assets.”

“This process has not changed from the prior year.”

“The foundation staff is employed privately, but have health benefits provided through iowa state university (isu) and payroll and remaining benefits provided through paychex human resources. The foundation reimburses isu and paychex for employee compensation and benefits for 5 employees.”

“The iowa 4-h foundation provides financial resources for youth development through 4-h. The iowa 4-h foundation provides direct and indirect private funding support for the iowa 4-h youth development program, a program administered statewide by iowa state university extension and outreach (isueo). Current 4-h program priorities include: healthy living, stem, leadership & civic engagement, communication & the arts, and agriculture & natural resources. Additionally, the 4-h foundation funds opportunities that promote and enhance the iowa 4-h experience. These include: college scholarships, state project awards, national recognition trips, volunteer awards, and program/event fee assistance.”