Community Foundation of the Central

“We will provide each member of the board of directors with copy of the draft form 990 with instructions on how to direct their questions and provide feedback and a timeline for doing so. We will provide them with a link to an online, confidential survey through which they can confirm that they received and reviewed form 990.”

“Conflict of interest requirements a. Duty to disclose in connection with any actual or possible conflict of interest, an interested person must disclose the existence of the interest and be given the opportunity to disclose all material facts to the directors and/or members of committees with governing board delegated power considering the proposed transaction or arrangement. B. Determining whether a conflict of interest exists after disclosure of the financial and all material facts, and after any discussion with the interested person, he or she shall leave the governing board or committee meeting while the determination board or committee members shall decide if a conflict of interest exists. C. Addressing the conflict of interest an interested person may make a presentation at the governing board or committee meeting, but after the presentation, he or she leave the meeting during the discussion of, and the vote on, the transaction or arrangement involving the possible conflict of interest. O the chairperson of the governing board or committee shall, if appropriate, appoint a disinterested person or committee to investigate alternatives to the proposed transaction or arrangement. O after exercising due dilligence, the governing board or committee shall determine whether the organization can obtain with reasonable efforts a more advantageous transaction or arrangment from a person or entity that would not give rise to a conflict of interest. O if a more advantageous transaction or arrangement is not reasonably possible under circumstances not producing a conflict of interest, the governing board or committee shall determine by a majority vote of the disinteresred directors whether the transaction or arrangement is in the organization's best interest, for its own benefit, and whether it is fair and resonable. In conformity with the above determination it shall make its decision as to whether to enter into the transaction or arrangement. D. Violations of the conflicts of interest policy o if the goverening board or committee has reasonable conflicts of interest, it shall inform the member of the basis for such belief and afford the member an opportunity to explain the alleged failure to disclose. O if, after hearing the memeber's response and after making further investigation as warranted by the cirumstances, the governing board or committee determines the member has failed to disclose an actual or possible conflict or interest, it shall take appropriate disciplinary and corrective action.”

“Ceo salary review - executive compensation committee of board of directors annually reviews compensation study from council on foundations for ceo salary bands in all types of foundations in different geographic locations.”

“Executive compensation committee of board of directors annually reviews compensation study from council on foundations for salary bands. Officers are not compensated.”

“Financial statements are available online at cfcbr website; other documents available upon request.”

“Provides grants to nonprofit organizations, primarily to those organizations supporting the needs of the residents of staunton, waynesboro, and the counties of augusta, highland, and nelson in virginia. Issues grants in response to applications submitted to the community foundation through its competitive grant programs, upon the recommendation of its donor-advised fund partners, and as determined by its ceo and board of directors to advance strategic initiatives in the community. Provides scholarships on a competitive basis on behalf of individuals of all ages seeking to further their education by requesting nomination for and providing cash awards to select individuals for their significant impact upon the education of youth in staunton,waynesboro, augusta county and nelson county.”

“OTHER”

“Book/tax depreciation adjustment -284”