Wyoming Community Foundation

“The chief financial officer provides a copy of the draft 990 to the audit committee. The audit committee then meets to review, ask questions or provide input. At the next regularly scheduled board meeting the audit committee will recommend the board accept the 990 as presented. At this meeting the board of directors is given an opportunity to ask questions or voice concerns. Then the form 990 is finalized and filed with the irs.”

“Upon acceptance as a member of the board of directors, all new members attend new board member orientation, and must review the conflicts of interest policy and complete a conflict of interest disclosure form. Annually, at its fourth quarter meeting all board members are asked to update their forms. Further, at every meeting of the full board or its committees the board chair will ask all present whether they have a conflict with respect to items on the agenda and remind board members of their continued obligation to disclose any potential conflict. Any such conflict is noted in the minutes and the member is recused from the room when that particular agenda topic is discussed, or a motion or vote is made on that topic.”

“Annually as the budget is prepared, salaries based on positions are reviewed and evaluated as comparable to the information provided in the annual salary survey performed and compiled by the council on foundations. When appropriate wycf will hire an independent consultant to review all positions, job descriptions and current salaries to determine compensation is appropriate for such position. The finance committee considers all staff salaries when reviewing and approving the annual operating budget. The executive committee meets annually to review the compensation and performance of the ceo and provides the recommended compensation information to the cfo.”

“Wycf makes available its annual report on its website. Wycf also completes the process with posting appropriate information on guidestar (by candid). Also, anyone can contact wycf for this information at anytime and wycf staff will provide the information as available either electronically or in hard copy.”