The Dallas Foundation

“The form 990 is prepared by an outside cpa firm. The form is reviewed by the vice president of finance and operations and the controller. After any corrections are made, the form 990 is dispersed to the members of the governing board prior to being signed by the vice president of finance and operations and filed with the internal revenue service.”

“Board members, employees and volunteers are required to disclose to the board of governors any conflicts or potential conflicts of interest that may arise regarding a matter under review by the board. Additionally, an annual questionnaire is utilized to disclose any business or family relationships that may create a conflict of interest during the year.”

“Compensation process for top official - a select independent group of the board establishes the compensation package for the ceo. Compensation surveys, indicating national industry standards for compensation of similar organizations, are consulted in setting the compensation package for this position. Compensation process for officers - the board has designated compensation decisions for other officers and key employees to the organization's ceo. Compensation surveys, indicating national industry standards for compensation of similar organizations, are consulted in setting compensation packages for these positions.”

“The financial statements are available on the organization's website along with the most recently filed form 990. The governing documents and conflict of interest policy are available upon request.”

“Jeanne whitman bobbitt, a board member of the dallas foundation, officially resigned from the board to act as interim co-president, sharing the presidential responsibilities with dallas foundation staff member helen holman, director of philanthropy. For these services, jeanne whitman bobbitt received consulting fees. Jeanne whitman bobbitt and helen holman acted in this interim co-president capacity from january to mid-may 2018. Once the permanent president began at the dallas foundation, jeanne whitman bobbitt was re-elected to the board of trustees.”

“All other services: program service expenses 7,133,023. Management and general expenses 783,162. Fundraising expenses 115,434. Total expenses 8,031,619.”

“The prior period adjustment resulting in an increase of $18.7 million in net assets primarily relates to a correction in the assets held for others liability balance. Management discovered certain funds received by the foundation were treated as agency rather than fiscal sponsorship funds, resulting in an overstatement of the other liability balance. 18,728,132.”

“No change from prior year.”