Austin Community Foundation Inc

“Two of ACF Board members are principals in a partnership. Another two are investors in a company together. Another director is a client of one of the directors. Another director does business with each of two other directors. The spouse of a board member is a major stock holder of a privately held company in which another board member is a shareholder and CEO. ACF is not involved with any of these relationships in any way.”

“(1) Each member of the Board of Governors is asked to complete an annual Form 990 Questionnaire (Relationships/Transactions/Independence). (2) The members of the board of Governors receive the 990 prior to filing.”

“All Board, staff & volunteers must disclose their conflict interest or potential conflict of interest to the Board or Executive Committee to determine if there is an actual conflict. If there is, the person with the conflict cannot vote or be present at the voting of transaction.”

“Council on Foundations does an annual salary survey of community foundations. This information is then provided to community foundations segmented by asset size and position.”

“Disclosure of Governing Documents, Conflict of Interest Policies and Financial Statements. The Foundation has copies of its IRS tax-exemption determination letter, Form 990 for multiple years, annual reports and newsletters, audits for multiple years, and investment performance reports available in pdf format on its website, www.austincf.org. The Foundation will provide its conflict of interest policies, articles of incorporation and bylaws upon request. Additionally, the Foundation mails by U.S. Postal Service and through electronic mail several hundred copies of its annual reports to fundholders, donors, non-profits, past and current board members, and any other person or organization interested in the Foundation. The Foundation's annual report includes it financial information for the year reported. The Foundation was founded in 1977 and does not have a copy of its Form 1023 and did not have a copy as of July 15, 1987; the Foundation in 2009 requested a copy of the Form 1023 from the Internal Revenue Service and was informed by the Service that it does not have a copy and that organizations created prior to July 15, 1987 are not required to make its Form 1023 available when the organization did not as of July 15, 1987.”

“other adjustments 604. Less agency administrative allocations (book/tax difference) -1,167,651.”

“The Austin Community Foundation has engaged a professional employee organization to employ all of the employees who serve the Foundation. This enables the Foundation to provide better employee benefits to its employees and lessens the amount of administrative time that must be spent on payroll and human resource matters.”