YMCA Foundation of MID-America

“The foundation financial statements are consolidated with the association financial statements in the annual audit report. Since they are combined, the association finance committee, acting as the audit committee, is responsible for the hiring of the outside auditors and for the oversight of the audit. Each year, the committee reviews the proposed engagement of the auditor via an engagement letter. The chairman of the audit committee signs the engagement letter. If requested, the outside auditors will meet with either the chairman or the entire committee to determine any specific areas of scope prior to beginning fieldwork. The audit results are reviewed with the entire committee and staff, and then auditors also meet with the committee separately, without staff, to answer questions the committee may have regarding the audit itself and/or fieldwork conducted and the cooperation of management.”

“The organization has one member, that member is the ymca of greater kansas city”

“The board of the ymca foundation of mid-america is elected by its member's board, the ymca of greater kansas city.”

“Amendments to the bylaws must be approved by the sole member.”

“A draft of form 990 is first reviewed by the outside cpa firm, the audit committee of the ymca of greater kansas city, and the treasurer or other designated member of the foundation. Prior to filing, a final copy of the full form 990 is emailed to all members of the foundation board of directors. The form 990 is then filed with the irs.”

“On an annual basis, all significant persons are asked to submit a conflict of interest form. Any significant person is also required to update their form at any point in which they become aware of a new conflict. These disclosures are turned into the chief people officer of the foundation's sole member, the ymca of greater kansas city, and then are reviewed by the member's human resources council for determination and enforcement. If there are conflicts regarding any business that comes before the board of directors for a vote, the conflict is disclosed to the board and that particular board member with the conflict does not vote. All potential conflicts of interest are reviewed and considered according to the policy. Annually the member's human resources council provides a written report to the foundation board chair and this report is reviewed at the foundation board meeting.”

“The ymca foundation of mid-america provides copies of governing documents such as articles of incorporation, bylaws, form 990 and financial statements (audited or unaudited) to the public based on request.”

“- Total Revenue: , Related or Exempt Function Revenue: , Unrelated Business Revenue: , Revenue Excluded from Tax Under Sections 512, 513, or 514: ; - Total Revenue: , Related or Exempt Function Revenue: , Unrelated Business Revenue: , Revenue Excluded from Tax Under Sections 512, 513, or 514: ;”

“Transfer of unrestricted net assets to the ymca of greater kansas city - -229631;”