Community Foundation of the Napa Valley

“The audit committee (ac) shall have the responsibility for reviewing the form 990 tax return including all pertinent schedules, before they are filed with the internal revenue service. A draft of the form 990 should be ready for review by the ac no later than two weeks prior to the filing deadline. After the draft of the form 990 has been obtained by the ac, they will have 7-10 days to complete their review. The ac shall conduct a review of the form 990. However, if the ac deems it necessary to conduct a more detailed review, they will contact the preparer of the form 990 to request copies of any relevant detailed tax return workpapers. Once the ac has completed its initial review of the form 990, a meeting or conference call will be scheduled with the preparer of the form 990, if necessary, to discuss any questions, comments, and suggested revisions identified by the ac. The preparer of the form 990 shall make any revisions to the form 990 as soon as feasibly possible to ensure that the form 990 is filed with the internal revenue service on a timely basis. All of the questions, comments, and suggested revisions set forth by the ac should be documented, along with any responses from the preparer of the form 990, if applicable. After the form 990 has been reviewed by the ac and a final copy is prepared, staff will e-mail the final form 990 to all nvcf board members before the form 990 is filed and will make a presentation at the next full board of directors meeting to update the board regarding the review of the form 990, if necessary.”

“Monitoring / enforcing the conflict of interest policy: once a year or as needed, board and advisory committee members, foundation staff, volunteers and contractors will complete a conflict of interest disclosure statement identifying any significant affiliation and/or position held by self or any immediate family member with any organization using the following guidelines: a. Any significant affiliation and/or position held by self or any immediate family member with any local charitable or community organization(s). B. Any significant affiliation and/or position held by self or any immediate family member with local business enterprise(s). C. Any other significant involvements with organizations that may create an interest or bias with respect to the foundation's action. Any possible conflicts shall be disclosed before any board or committee meeting discussion begins. The minutes of the meeting shall reflect this disclosure. After acknowledging the potential conflict, the board/committee/staff member/volunteer/contractor may briefly address the other members regarding this matter. The board/committee/staff member/volunteer/contractor may also answer pertinent questions since personal knowledge on the issue may be of assistance to the other members in reaching their decisions. The board/committee/staff member, however, will abstain from voting on this issue.”

“Process for reviewing compensation: nvcf president * the executive committee (ec) of the board meets annually to review the president's performance. * in preparation for this meeting, they review salary comps for presidents and ceos of medium-sized community foundations in california and nationwide. * the president prepares an extensive, written self-assessment of his performance that is based on specific, measurable, attainable, relevant and timely goals agreed upon during the prior year's performance review with the ec. * the self assessment is sent to the ec at least one week before their review meeting. * at the review meeting, members of the ec bring comments and suggested revisions to the self assessment document, and engage the president in a conversation about prior year and coming year goals for the president and nvcf. * the comments and suggested edits to the self assessment are folded into a revised document called the supervisor assessment. * the supervisor assessment is shared with the board of directors in executive session, without staff present, at the next meeting of the board. * at this board meeting, the ec makes recommendations for salary adjustments, if any, based on the review of comps, the performance of the president, and the overall performance of nvcf. * the full board votes on any changes to compensation recommended by the ec. Other nvcf officers and key employees * the president meets annually with each of his direct reports to privately review their performance. * prior to this meeting, each direct report prepares an extensive, written self-assessment of his/her performance that is based on specific, measurable, attainable, relevant and timely goals agreed upon during the prior year's performance review with the president. * the self assessment is sent to the president at least one week before their review meeting; the president then prepares a supervisor assessment based on the self assessment document. * in preparation for the review meeting, the president reviews salary comps for similar positions in medium-sized community foundations in california and nationwide. * salary adjustments, if any, are based on the review of salary comps and performance. * all salary adjustments are contemplated in the operating budget of nvcf, which is approved by the board of directors annually.”

“As a community corporation, we are accountable to the public. The following organizational and financial documents of nvcf will be available (for inspection or copying) at nvcf's office during normal business hours at no charge: * irs form 1023 - application for recognition of exemption under section 501(c)(3) of the internal revenue code * articles of incorporation * internal revenue service determination letter * california tax exempt letter * conflict of interest policy * audited financial statements * form 990's - return of organization exempt from income tax (public inspection copy) * annual reports * investment policy * details of funds and fees all of the aforementioned organizational and financial documents will also be posted on the organization's web site. Nvcf will make best efforts to ensure that the documents posted on the web site are the most updated versions of such documents. The public inspection copy of the form 990 will not include the schedule of contributors (schedule b). When responding to a public inspection request for any organizational or financial document by anyone, nvcf shall fulfill such request in a timely fashion without inquiring as to the reason for the public inspection request.”