North Colorado Medical Center Foundation Inc

“The executive committee shall be comprised of not less than three and not more than six individuals, which shall include the following officers: the chair and president of the board, the vice president(s), if any, the secretary, the treasurer, and the immediate past president. The executive committee shall perform or cause to be performed the following functions (except as set forth below): (i) review and evaluate the on-going performance of the board executive, members of the board (both individually and collectively), and chairs, and procure annual conflict of interest statements from related parties each year; (ii) direct the on-going business and affairs of the corporation in the interim between regularly scheduled board meetings, providing advice and counsel to the chair and president and to the board executive officer and acting on pending matters on behalf of the board when it is not in session; (iii) maintain the "good standing" of the corporation as a legal colorado entity and its tax-exempt, non-profit status under federal and state tax laws. Notwithstanding the preceding, the executive committee shall not have the authority to approve any of the following actions: (a) appoint, remove or fill vacancies in the board; (b) any amendment to the articles or bylaws of the organization; (c) adopt a plan of merger or consolidation with another organization; (d) authorize the sale, lease, exchange or mortgage of all or substantially all of the property and assets of the organization; (e) authorize the voluntary dissolution of the organization or revoking proceedings therefor; (f) amending, altering or repealing any resolution of the board which by its terms provides that it shall not be amended, altered or repealed by such committee; or (g) appoint, other than on a temporary or interim basis, the chair and president of the board or chief executive officer of the organization.”

“The chief executive officer, chief financial officer, and the chief operating officer are officers of and employed by the weld trust, a related tax-exempt organization. Members of the board are also members of the board of directors of the weld trust. Therefore, business relationships exist between these individuals.”

“Beginning in april of 2020 the weld trust, a related tax-exempt organization, performed executive management services including chief executive officer, chief financial officer, and chief operating officer services. See form 990, part vii for compensation paid by the related entity for these services.”

“The foundation does not have any committee with broad authority to act on behalf of the governing body.”

“Form 990 is provided to the entire board and is reviewed by the finance committee prior to filing.”

“The conflict of interest policy is annually reviewed with the board. Each board member is required to annually sign a declaration of potential conflicts of interest. Board members are asked to disclose any potential conflicts of interest at each meeting and any such conflicts are documented in the meeting minutes.”

“Compensation paid to the chief executive officer, chief operating officer, and other employees is paid by the weld trust, a related tax-exempt organization. The weld trust uses a compensation survey, comparability salary data for similar positions at similarly situated organization, and approval by the board of directors to determine compensation levels.”

“The governing documents, conflict of interest policy, and financial statements are available in the weld legacy foundation offices at 815 8th avenue, greeley, colorado. They are available for the public review at this site only.”

“The chief executive officer (ceo), chief financial officer (cfo), and the chief operating officer (coo) perform services for both the weld trust and weld legacy foundation, a related tax-exempt organization. Compensation and benefits paid to the ceo, cfo, and coo reported on form 990, part vii, section a, line 1a, represents only the portion of compensation and benefits paid to these individuals for services to the weld trust.”

“Professional fees: program service expenses 2,225. Management and general expenses 21,363. Fundraising expenses 20,918. Total expenses 44,506. Contract services: program service expenses 4,168. Management and general expenses 199,948. Fundraising expenses 137,027. Total expenses 341,143.”

“Change in value of split interest agreement -5,729.”