Community Foundation of Northeast Alabama

“Jennifer s. Maddox, president & ceo of the foundation, is a minority shareholder in a board member's (tommie goggans) company.”

“During the current year, revisions were made to the foundation's bylaws. Changes made are detailed below: 1) verbiage modifications to the mission 2) verbiage modifications to sections under board of trustees general powers and duties * distributions and disbursements * advisors of the foundation * annual audit 3) change to tenure of service for trustees from no more than 9 years to no more than 10 years 4) change to how trustee terms are divided: from 3 consecutive 1 year terms to 2 consecutive 2 year terms 5) verbiage modifications under meetings 6) change to special meetings * whom is involved - eliminated secretary - added president & ceo * notice time - eliminated 5 days prior - added one day prior * notice type - removed facsimile 7) verbiage modifications to committees & officers sections 8) verbiage modifications to president & chief executive officer section”

“Board members are provided copies prior to the board meeting where the ceo and accounting firm present a copy of the form 990 for detailed review by the organization's board prior to filing.”

“The foundation has a conflict of interest policy and disclosure form that is completed for all volunteers and staff regardless of the capacity of their service. The form includes a signature that confirms that they have read and will adhere to the policy. In addition, every board meeting and most committee meetings begin with a review of the conflict of interest policy and asks each participant to fully disclose any conflict or bias that they have with any agenda item.”

“The compensation recommendations are reviewed annually by the board of trustees. The review consists of: 1) review by the finance and investment committee of the actual compensation budgeted compared with the proposed amount 2) review of actual compensation in comparison to other staff 3) observing comparable salary data from the council of foundations, for other foundations in the u.s. The compensation approval is documented in the board minutes, as well as, the recommendation to approval in committee minutes.”

“The foundation makes its form 990 available for public inspection at the offices of the foundation m-f 8 a.m. To 5 p.m., as well as, on the foundation's website and guidestar in pdf format. The foundation does not have a copy of its form 1023. The foundation tried to obtain a copy from the irs but the irs has destroyed all records prior to 1940. The foundation's form 1023 would be dated 1938.”

“The foundation makes its governing documents and financial statements available for public inspection at the offices of the foundation m-f 8 a.m. To 5 p.m. And on the foundation's website and guidestar in pdf format.”

“Hr services: program service expenses 4,412. Management and general expenses 974. Fundraising expenses 360. Total expenses 5,746.”

“Equipment and supplies: program service expenses 21,447. Management and general expenses 4,113. Fundraising expenses 2,512. Total expenses 28,072. Printing: program service expenses 18,393. Management and general expenses 3,116. Fundraising expenses 1,903. Total expenses 23,412. Unrealized loss on split-interest agreement: program service expenses 14,868. Management and general expenses 0. Fundraising expenses 0. Total expenses 14,868. Dues and subscriptions: program service expenses 6,275. Management and general expenses 1,658. Fundraising expenses 1,012. Total expenses 8,945. Telephone: program service expenses 4,960. Management and general expenses 1,545. Fundraising expenses 943. Total expenses 7,448. Postage and shipping: program service expenses 2,167. Management and general expenses 648. Fundraising expenses 397. Total expenses 3,212. Continuing education: program service expenses 1,274. Management and general expenses 319. Fundraising expenses 0. Total expenses 1,593. Miscellaneous: program service expenses 768. Management and general expenses 104. Fundraising expenses 63. Total expenses 935. Security monitoring: program service expenses 582. Management and general expenses 106. Fundraising expenses 65. Total expenses 753. Website: program service expenses 502. Management and general expenses 143. Fundraising expenses 87. Total expenses 732. In-kind: program service expenses 421. Management and general expenses 0. Fundraising expenses 0. Total expenses 421.”

“Transfer of funds to outside agency re: evans litigation scholarship fund -151,245.”

“The foundation has not changed neither the oversight or selection process since the prior return.”