Community Foundation of Broward Inc

“The foundation has established an audit committee consisting of board members and individuals from the community with financial and tax expertise. One of the functions and responsibilities of this committee is to ensure a review of the form 990 and related schedules prior to filing. A copy of form 990 and accompanying schedules is delivered to all board members for their review before filing.”

“Board and staff members are required to sign a conflict of interest policy annually. Board members are also required to disclose conflicts of interest and abstain from any discussion or voting, at the monthly board meetings.”

“Compensation of ceo is determined by the board after a review of ceo's performance and accomplishments, review of comparable compensation data obtained from independent resources and budget limitations. Compensation of key employees is determined by the ceo after a review of their performance and accomplishments, review of comparable compensation data obtained from independent resources and budget limitations.”

“The foundation issues an annual report providing financial information to the public and documentation of the foundation's significant activities. The annual report is mailed to the foundation's contacts and posted to its website. Audited financial statements and form 990 (including related schedules) are available at the foundation's office upon request and can be downloaded from the foundation's website.”

“The mission of the community foundation of broward is to: to provide leadership on community solutions and foster philanthropy that connects people who care with causes that matter. The community foundation's purpose is to enhance and improve the quality of life for all who live in broward county. We combine professional investment management with expert guidance on the science of giving to help our fundholders achieve their philanthropic goals in perpetuity. To accomplish this, the community foundation links donors' charitable dollars with results-oriented programs. We pool contributions of all donors, invest those assets, and direct a portion of the investment return into the community through an effective grantmaking process. This service is fundamental to the foundation's purpose and role to create a permanent endowment to support our community for good. For ever. The foundation also undertakes a community leadership role by identifying emerging challenges in our region and investing in innovative programs that address them. We do this through research, grantmaking, academic scholarships and our ability to bring together different community and business sectors to collectively address problems. The foundation's leadership in identifying and solving critical community issues is demonstrated in the summary of grants enclosed with this tax filing. The community foundation of broward remains among an elite group of community foundations nationwide to be confirmed in compliance with national standards for community foundations.”

“Grantmaking philosophy: applying the shared dreams of our fundholders, the community foundation of broward tackles issues and provides solutions through grantmaking. Grantmaking is conducted with the intent of making an impact in the lives of those served, and the broward community as a whole. Grantmaking focus areas are based upon assessment of community needs, statistics, and evaluation of the foundation's capacity to make an impact. Grantmaking priority is then given to programs that make a measurable impact in the community through strategies that: - address unmet community needs in target populations - use collaboration to enhance/expand services and/or reduce duplication - strengthen an existing program allowing it to reach new level of service - use creative and innovative approaches to achieve positive outcomes - focus on prevention and elimination of root causes - fill gaps in services - incorporate accountability and evaluation measures to improve outcomes - leverage support to implement the program to its fullest potential - address racial equity and social justice. Types of grantmaking: - aging/elderly - animal welfare - art & culture - cancer research and patient care - capacity building - civic engagement - education - environmental - gay & lesbian issues - health - human services - scholarships - youth engagement grantmaking process: every grant is reviewed by foundation's staff and follows a due diligence process. The request is vetted for compliance with established guidelines and submission of all required information. The organization's tax exemption status is verified and the foundation staff committee will give the proposal a thorough review. Staff may conduct research, schedule a site visit, interview grantee staff and/or board and talk to experts in the field to ascertain additional information. For some grantmaking areas, a committee made up of 8-12 board and community members is convened to make grant recommendations. The recommendations are submitted by staff to the appropriate committee. The committee reviews recommendations, declares any conflict of interest, engages in a discussion, and evaluates requests with the dollars available. Final recommendations are brought to the board of directors for approval. When deemed necessary, a "request for proposals" is issued to address a particular issue. They are announced through newsletters, mailings, press releases and on our website. Grant workshops are conducted to review guidelines and applications, to provide education on measurable outcomes, and answer questions. When a grant has been awarded, a grant agreement is created that outlines the project details as described in the proposal. Grantees submit mid-year and year-end reports that include a financial accounting report. The foundation has a good working relationship with its grantees. It is the goal of the community foundation to help grantees reach their stated outcomes to address community change. For donor advised grants and annual grant distributions from designated and nonprofit agency endowment funds, grant agreements are usually not created. The community foundation of broward (cfb) holds and administers a number of scholarship funds established by donors to provide educational grants to individuals for travel, study, or other similar purposes. Cfb scholarship policies ensure that the educational grants meet the requirements of paragraphs (1), (2), or (3) of section 4945(g) of the internal revenue code and the pension protection act 2006-hr4 and are awarded on an objective and nondiscriminatory basis. Scholarships that are based on financial need require a copy of the parent or adult student's tax return or fafsa application and a formula is used to determine financial need and unmet need based on adjusted gross income, number of dependent family members attending college at the same time, and other financial resources dedicated for post-secondary education. Some scholarships have additional”

“Agency transactions -1,673,674. Change in split-interest agreements 141,348.”

“No change from prior year.”