Denver Public Schools Foundation

“Before filing the Form 990, a copy of the entire Form 990 is included in the board packet sent to each board member. A detailed review of the Form 990 is performed by the audit committee and board treasurer. After their review, they recommend approval by the entire board of directors. Approval of Form 990 is documented in the board meeting minutes.”

“Annually all board of directors and all employees are obligated to complete and sign a conflict of interest form disclosing any and all potential conflicts of interest. All potential conflicts of interest listed are reviewed by the President/CEO and Board Chair to determine appropriate action necessary to mitigate any potential conflict. Appropriate action may involve disallowing the person to conduct transactions, prohibiting the person from participation in the board's deliberations and abstaining from voting on those matters and ceasing to conduct business with an individual or organization. The board of directors is notified of all potential conflicts of interest as well as any action taken to mitigate the potential conflict.”

“The executive committee of the board of directors determines compensation for the President/CEO. The executive committee considers the skill set of the President/CEO, considers past performance, reviews compensation at other similarly-sized not-for-profit organizations, consults with an executive coach/consultant about trends and reviews the current economy to determine compensation. Compensation is reviewed annually for the President/CEO. During 2015-16, DPS Foundation experienced a change in its President/CEO. Compensation for all other employees is determined by the skill set of the employee, past performance and is based on current market practices for similar duties performed by individuals in organizations of similar size. Compensation is directly approved by the President/CEO and ultimately approved by the board as part of its approval of the annual budget.”

“Governing documents, conflict of interest policy and financial statements are all available to the public upon request. In addition, certain governing documents are available from others' websites and a financial summary is available in our annual report to the public.”

“Number of employees reported on Form W-3: Denver Public Schools Foundation co-employs its employees through an unrelated professional employer organization (PEO) and, as such, the PEO is responsible for filing Forms W-2 and all payroll tax reports. Salaries and payroll taxes paid through the PEO are reflected as if DPS Foundation were the sole employer for purposes of the functional expenses and compensation information.”

“Denver Public Schools Foundation has an audit committee that assumes responsibility for oversight of the audit and selection of an independent accountant. There were no changes to the procedures followed by the audit committee in performing these responsibilities in 2015-16.”