Community Foundation of the Great River Bend

“Except for the power to fill vacancies on the board of directors, the executive committee shall, during the intervals between the meetings of the board, possess and may exercise all of the powers of the board in the management of the affairs of the quad cities community foundation.”

“Quad cities community foundation updated its bylaws to allow for a 2nd vice board chair, which is an officer of the board.”

“The form 990 is reviewed and approved by the quad cities community foundation's (the foundation) audit committee. After the committee's approval, the form 990 is presented to the board of directors for review. The 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 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 quad cities community foundation. The decision of the board on these matters will rest in the board's sole discretion, and their concern must be the welfare of the quad cities 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 (the foundation), reviews and approves the compensation of the foundation'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 is completed each year, with the process last occurring in 2024.”

“Quad cities community foundation makes its governing documents, audited financial statements, and conflict of interest policy available to the public upon request in the same time and manner as other disclosures required under internal revenue code section 6104.”

“Change in value of split-interest agreements 579,954.”

“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.”