Slco Pfs 1 Inc

“The organization has one member which is the community foundation of utah.”

“The board chair of the community foundation of utah shall designate at least three of the following individuals to serve on the board: 1. The board chair of the community foundation of utah 2. The executive director/ceo of the community foundation of utah, or someone of similar office or position. 3. The director of philanthropy of the community foundation of utah, or someone of similar office or position. 4. The director of pay for success for the community foundation of utah, or someone of similar office or position. The board chair of the community foundation of utah may designate additional board members at his or her discretion.”

“The board of trustees reviews the 990 with their independent outside cpa prior to electronicially filing the return.”

“Conflict of interest transactions are prohibted unless they meet the following conditions: (a)(i) the material facts as to the directors relationship or interest and as to the conflicting interest transaction are disclosed or are known to the board, or the committee; and (ii) the board or committee in good faith authorizes, approves, or ratifies the conflicting interest transaction by the affirmative vote of a majority of the disinterested directors, even though the disinterested directors are less than a quorum; or (b) the conflicting interest transaction is consistent with a provision in the articles or these bylaws that commits the corporation to support, or authorizes one or more directors to exercise discretion in making gifts or contributions to, one or more other nonprofit corporations, charitable trusts, or charitable entities; or (c) the conflicting interest transaction is fair as to the corporation. Common or interested directors may not vote on transactions in which the director has a conflicting interest, but may be counted in determining the presence of a quorum at a meeting of the board or of a committee that authorizes, approves, or ratifies the conflicting interest transaction.”

“The organization will make any document which is subject to the public disclosure rule available to the public once it receives a request.”

“Line 1f - the contribution amount represents the sub-allocation of a large grant received from the donor. The rest of the grant is included as part of agency funds that are not being recognized as contribution income by the organization.”

“The organization issued audited financial statements in may of 2018. The audit resulted in several changes which are being reported on the amended return. The major changes are reflected in the following parts of the return: 1. Changed principal officer since previous one is no longer with organization. 2. Part iii - minor change to program accomplishments description. 3. Part vi - changes to questions regarding governance. 4. Part viii - statement of revenue 5. Part ix - statement of functional expenses 6. Part x - balance sheet 7. Part xi - reconciliation of net assets 8. Schedule a, part i - amount of support to related organization. 9. Schedule b - added to report contribution 10. Schedule d, parts xi and xii”