Downtown Phoenix Inc

“An agreement of merger was filed between downtown phoenix, inc. (dpi) and downtown phoenix partnership (dpp), in which dpi merged into dpp and ceased to exist as a separate entity.”

“The form 990 is prepared by an outside accounting firm and is reviewed by the president/ceo prior to being filed. The board will review at the next board meeting after filing.”

“Downtown phoenix, inc. Has formally adopted the conflict of interest policy of downtown phoenix partnership, inc., an unrelated organization. Each director is asked to carefully review the policy and sign a statement acknowledging its existence and agreeing to be bound by its terms. Any director, officer or employee of the downtown phoenix partnership who has, or whose relative has, a substantial interest in or represents a company or organization that directly benefits from any contract, sale, purchase or service to the downtown phoenix partnership shall make known that interest in advance in the official records of the downtown phoenix partnership and shall refrain from voting upon or otherwise participating in such transaction. Written conflict of interest policy distributed to all board members annually, and board members must sign off on interests that could give rise to conflicts. The joint finance oversight committee, which is comprised of board members from each affiliate, reviews potential conflicts when meeting quarterly.”

“The executive committee reviews the compensation for all officers and key employees by comparing their compensation to the compensation of individuals in like positions at comparable organizations using forms 990, compensation studies, and other available data. The committee then approves any changes in compensation based on this information.”

“The organization's articles of incorporation, by-laws, conflict of interest policy and financial statements are made available to the public upon request.”

“Devney majerle, president & ceo, provides management and financial oversight to downtown phoenix partnership, inc (dpp), an unrelated 501(c)(3) organization. Under this management services agreement, they are compensated by dpi for services provided to dpp.”

“An agreement of merger was filed between downtown phoenix, inc. (dpi) and downtown phoenix partnership (dpp), in which dpi merged into dpp and ceased to exist as a separate entity. Subsequent to the merger, the downtown phoenix partnership changed their name to downtown phoenix, inc.”

“Downtown phoenix, inc. Provides employees to downtown phoenix partnership, inc., downtown phoenix community development corporation, phoenix community alliance and phoenix warehouse district, inc. Through a management services agreement. Compensation expense is allocated in part ix, functional expense schedule, to the entity for whom the employee provides the services. The total compensation for the officers and key employees is reported on downtown phoenix, inc's form 990 in part vii.”