Community Foundation of the Great River Bend

“Quad cities community foundation updated its bylaws to list the past board chair as an officer of the organization and update the terms so all officers are limited to a maximum term of 6 years unless they are in succession for board chair.”

“The form 990, excluding schedule b, is reviewed and approved by the organization's audit committee. After the committee's approval, the form 990, excluding schedule b, is presented to the board of directors for review. Foundation board members are asked to review the entire form and to notify the president/chief executive officer via email of any questions or concerns within one week, after which time the 990 is filed. In both presentations, key elements are highlighted.”

“Board and committee members sign a conflict of interest form each year where they are asked to list the organizations where there is a conflict. After disclosure of the interest and all material facts, and after any discussion with the interested person, he/she shall leave the community foundation board or committee meeting while the determination of a conflict of interest is discussed and voted upon. The board shall determine whether a conflict exists and is material, and in the presence of an existing material conflict, whether the contemplated transaction may be authorized as just, fair, and reasonable to the community foundation. The decision of the community foundation board on these matters will rest in the board's sole discretion, and their concern must be the welfare of the community foundation and the advancement of its purpose and will be documented in the minutes. A list is then kept of the necessary abstentions for each vote. Those abstentions are listed in the appropriate minutes. Because we live in a smaller community, staff is always mindful of the business relationships our board and committee members have and how those relationships could be perceived as a conflict for the quad cities community foundation.”

“The executive committee, a subcommittee of the quad cities community foundation, reviews and approves the compensation of the organization's president/chief executive officer. The executive committee is provided with comparative salary information from the council on foundations salary survey. The survey is looked at as a whole as well as regionally. Local nonprofits of like size and scope are also reviewed. Results and summary are shared with the executive committee and the president/chief executive officer prior to the executive committee meeting. The meeting concludes with an executive session to discuss the annual performance review and determine compensation. The board chair documents the process and communicates the compensation decision directly to the vice president of finance and the director of operations and administration via email. This email is maintained in a secure payroll folder. This process last occurred in 2022.”

“Governing documents and the conflict of interest policy are available upon request. The organization's current audit and 990 as well as the two prior years of each are available on its website. They are also available in hard copy upon request.”

“Change in value of split-interest agreements 560,063.”

“The oversight and selection process has not changed from the prior tax year.”

“The quad cities community foundation is an accredited community foundation by the national standards for u.s. Community foundations. Accredited community foundations have met the highest standards of operational effectiveness to foster excellence in community philanthropy. They do so by demonstrating excellence in stewarding the dollars given to them for charitable purposes, legal and ethical accountability, community impact, and distinction.”