Culturetrust Greater Philadelphia

“The board of directors of the sole trustee (the "board"), may establish one (1) or more committees to consist of one (1) or more directors of the corporation and such other persons as described herein. Any committee, to the extent provided in the resolution of the board, shall have and may exercise all of the powers and authority of the board, except that a committee, including the executive committee, shall not have any power or authority as to the following: (a) the creation or filling of vacancies in the board; (b) the adoption, amendment, or repeal of the bylaws; (c) the amendment or repeal of any resolution of the board that by its terms is amendable or repealable only by the board; or (d) action on matters committed by the bylaws or a resolution of the board exclusively to another committee of the board. The executive committee shall be composed of the officers and may also include one (1) or more directors as determined by the board. The president shall serve as the chair of the executive committee. A meeting of the executive committee may be called at any time by the president upon five (5) days written notice. The executive committee shall be authorized to act for the board between its regular meetings; except as otherwise provided by these bylaws or by resolution of the board, the executive committee shall have and may exercise all of the powers and authority of the board in the management of the corporation, provided that the executive committee shall not have the power to take any action that is contrary to or a substantial departure from the direction established by the board.”

“Culturetrust greater philadelphia's sole trustee cultureworks greater philadelphia, a non-stock nonprofit pennsylvania corporation which has been recognized by the internal revenue service as exempt from federal taxation under section 501(c) (3) of the internal revenue code and as a public charity under internal revenue code section 509(a)(2) entity.”

“Cultureworks greater philadelphia is the sole trustee, and therefore, they share a common board.”

“The form 990 is prepared by an independent accountant and is reviewed and approved by management. All board members via electronic pdf files receive the irs form 990 prior to filing with the irs.”

“The trust administrator's board of directors maintains the conflict of interest policy and monitors potential conflicts. Each year, board members and co-executive directors complete a conflict of interest disclosure form. Any disclosed potential conflicts are evaluated and resolved by the board and senior staff. The minutes of the meetings record the affirmations and conflicts, should they arise. The co-executive directors will review all conflict of interest statements completed and bring any conflicts disclosed to the attention of the board members.”

“The compensation of the co-executive directors, other officers and key employees is reviewed by board of directors of the sole trustee. It is sole trustee's accepted practice to benchmark salary and compensation rates and gather comparative market data provide from local and national service organizations. This data in addition to recommendations is reviewed by the board of directors of the sole trustee. The most recent study was last completed in 2024. The deliberation and final decision are timely documented in the board minutes.”

“Governing documents, financial statements, and 990s are publicly available online at cultureworksphila.org or by request. 990s are also available at guidestar.com. The organization makes its conflict of interest policy available to the public by request only.”