Special Olympics Colorado

“The members of the executive committee shall consist of at least three (3) directors who shall include the chairperson, along with such other directors as the board of directors shall from time to time designate. During the absence or disability of any member of the executive committee, the chairperson of the board of directors may appoint another director to serve subject to the authority of the board of directors. The executive committee shall, in addition to any other duties specified from time to time by the board of directors: (a) in the intervals between meetings of the board of directors, exercise all of the powers of the board of directors, except as may be prohibited by law; (b) review and supervise all activities of the board of directors; (c) review and advise the president and chief executive committee on matters of annual employee salaries and benefits. All actions of the executive committee shall be subject to revision or alteration by the board of directors except insofar as the third parties have relied thereon. The chairperson of the board of directors shall serve as its chair. At each regular meeting of the board of directors, the executive committee shall submit to the board of directors for its approval a report of the action approved by the executive committee in its meetings and such other reports as will give the directors a comprehensive understanding of the affairs of the corporation. The executive committee may not, unless specifically empowered by the board of directors to do so: (a) take any action inconsistent with a prior act of the board of directors; (b) amend bylaws; (c) encumber the organization through bank loans or other means; (d) remove or appoint the president and chief executive officer; or (e) take any other action which has been reserved for the board of directors.”

“A copy of the completed form 990 is provided electronically to the finance committee for their review and approval. Following their review and approval of the completed form 990, it is also electronically distributed to the full board of directors prior to filing.”

“Special olympics colorado requires board members to sign a conflict of interest policy annually. Special olympics colorado provides education to board members on the conflict of interest policy through board member orientation and self reporting any potential conflicts. If a conflict exists, the board member involved may not participate in deliberations or vote on the matter.”

“The process for determining compensation of the organization's ceo, other officers and key employees is carried out by the board of directors and executive committee. The process included an analysis of current independent salary surveys in colorado. This evaluation occurs no less than every two years. Substantiation of the deliberation and decision would be contained in the documentation of the meetings held. This was last completed in february 2024.”

“Special olympics colorado makes its governing documents, conflict of interest policy and financial statements available through mail or e-mail request. Audited financial statements and the public copy of the 990 are posted on the website.”

“Special olympics colorado received $4,791,771 in donated services and facilities in 2024, which are not shown on form 990. These donations include donated legal services, donated coaching and referee services, and the use of donated sporting facilities. Of these donated services, $4,609,630 would be allocated as program expenses. The organization's audited financial statements, which include these donated service expenses, show that program expenses for special olympics colorado equal 83.7% of total expenses.”

“Change in value of perpetual trust 128,721. Employee retention credit refunds 185,077.”