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.”

“Board members are provided copies prior to the board meeting where the ceo, cfo 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 approve 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 is 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.”

“Telephone: program service expenses 15,739. Management and general expenses 3,027. Fundraising expenses 1,412. Total expenses 20,178. In-kind: program service expenses 19,444. Management and general expenses 0. Fundraising expenses 0. Total expenses 19,444. Unrealized loss on split-interest agreement: program service expenses 18,319. Management and general expenses 0. Fundraising expenses 0. Total expenses 18,319. Printing: program service expenses 7,022. Management and general expenses 2,898. Fundraising expenses 1,226. Total expenses 11,146. Repairs and maintenance: program service expenses 5,372. Management and general expenses 2,066. Fundraising expenses 827. Total expenses 8,265. Postage and shipping: program service expenses 5,197. Management and general expenses 770. Fundraising expenses 449. Total expenses 6,416. Continuing education: program service expenses 2,208. Management and general expenses 912. Fundraising expenses 386. Total expenses 3,506. Website: program service expenses 630. Management and general expenses 260. Fundraising expenses 110. Total expenses 1,000. Security monitoring: program service expenses 431. Management and general expenses 122. Fundraising expenses 55. Total expenses 608. Miscellaneous: program service expenses 382. Management and general expenses 158. Fundraising expenses 67. Total expenses 607.”

“The foundation has not changed either the oversight or selection process since the prior return.”