Office Depot Foundation Inc Fka Office Depot Disaster Relief Fd

“There is a meeting with the organization's independent cpa who provides a draft of the form 990 for review with the president and relevant staff. The cpa then presents the form 990 to the finance committee prior to submitting to the full board of directors for approval and signing.”

“On a yearly basis, every board member is required to sign the conflict of interest form at the review of the form 990.”

“The president of the office depot foundation is an office depot, inc. Employee on loan to the office depot foundation. The president begins the performance review process by preparing a pre-review document at the end of the year. The executive committee receives the information and conducts the yearly performance review of the president in a meeting with the president. The executive committee prepares a written performance review which is shared with the vice president and associate general counsel to office depot, the position to which the foundation president administratively reports within office depot, inc. The office depot, inc. Vice president accepts the performance review from the executive committee and together they prepare a mutually agreed upon review and determine the annual salary of the president within the appropriate guidelines set by office depot, inc. The process for determining the compensation of the officers and key employees follows office depot's hiring guidelines. Service on the board is voluntary, however, if a volunteer is an office depot employee, then the office depot hiring guidelines are followed.”

“All documents are posted for public review.”

“The president of the office depot foundation is an office depot, inc. Employee on loan to the office depot foundation. The president begins the performance review process by preparing a pre-review document at the end of the year. The executive committee receives the information and conducts the yearly performance review of the president in a meeting with the president. The executive committee prepares a written performance review which is shared with the vice president and associate general counsel to office depot, the position to which the foundation president administratively reports within office depot, inc. The office depot, inc. Vice president accepts the performance review from the executive committee and together they prepare a mutually agreed upon review and determine the annual salary of the president within the appropriate guidelines set by office depot, inc.”

“The foundation recognizes a majority of its revenue through an annual charity invitational event, which is held to generate contributions, primarily from office depot's supply chain vendors. The foundation recognizes revenue at the time each vendor signs their pledge agreements and all services related to the charity invitational event have been rendered by the foundation. All contributions received from vendors through the charity invitational event are considered unrestricted. The charity invitational was postponed until september 2016 due to the uncertainty of the office depot merger. As a result, there were no revenues recognized in fiscal 2016 associated with this event. Revenues earned from the charity invitational held in september 2016 will be reflected in the financial statements for the year ending june 30, 2017.”

“The office depot foundation is launching a new program called the difference maker movement which is meant to establish additional revenue generating business models for the foundation. The difference maker movement includes the difference maker network ("network") where members who join the network receive best practices information to assist the members in effectively and efficiently managing their own programs and initiatives, and consultation and advice to help them grow their businesses. The difference maker movement also includes a program where the foundation will provide an incubator model for nonprofits and other small businesses, providing work space, equipment and a range of professional services. The foundation plans to begin launching the difference maker movement in 2017.”

“No change in the process.”