Dallas Arts District Foundation

“The 990 is prepared by an independent public accounting firm. It is then reviewed and edited by the vice president. Once it is approved by the vice president, it is passed on for review and editing by the financial chair or other board representative. It is then presented to the board for final approval.”

“The compensation of the executive director and any key employees as defined by applicable irs regulations shall be annually reviewed by the executive committee and/or a compensation committee appointed by the finance committee, consisting of board of directors members who have no conflict of interest with respect to the compensation under review in accordance with applicable irs regulations. In conducting such review, the committee shall: 1. Review data as to comparable compensation for similarly qualified persons in functionally comparable positions at similarly situated organizations. 2. Make contemporaneous documentation and recordkeeping with respect to the deliberations and decisions regarding the compensation arrangement.”

“The compensation of the executive director and any key employees as defined by applicable irs regulations shall be annually reviewed by the executive committee and/or a compensation committee appointed by the finance committee, consisting of board of directors members who have no conflict of interest with respect to the compensation under review in accordance with applicable irs regulations. In conducting such review, the committee shall: 1. Review data as to comparable compensation for similarly qualified persons in functionally comparable positions at similarly situated organizations. 2. Make contemporaneous documentation and recordkeeping with respect to the deliberations and decisions regarding the compensation arrangement.”

“Governing documents are made available upon request.”

“Prior period audit adjustment to remove a donor-advised fund held by a third party, which should not be included in the organization's financial statements.”