Brent Eley Foundation

“Board member, Donn Eley, and board member, Linda Eley, are spouses.”

“The completed 990 and schedules are reviewed by Brent Eley Foundation's Controller, Brent Eley Foundation's CEO, the Chair and Treasurer of the Foundation, and Brent Eley Foundation's Internal Affairs Committee. Following this review, a copy is given to each voting member of the board of directors before its submission to the IRS.”

“At an annual meeting, the members of the board of directors review the conflict of interest policy statement and state any potential conflicts of interest according to the policy. They are asked to sign a policy statment annually disclosing any existing conflicts of interest and the mitigating steps being implemented to resolve the conflicts, or confirming that there are no conflicts of interest. Employees are also asked to complete and sign a conflict of interest questionnaire upon hire and on an annual basis thereafter. Compliance with the policy is monitored by the CEO.”

“Comparable data from the annual wages and salary survey published by the Colorado Non-Profit Association is used to determine salaries of incoming staff. This report is categorized by size of organization, budget, job description and is used regularly to determine base salaries. Staff salaries are determined by the CEO in consultation with the Chair of the Foundation. The CEO's salary is determined by the Board of Directors who base compensation on performance and that of similar positions at other organizations of similar size and budget in the community.”

“The Foundation's governing documents, conflict of interest policy, and financial statements are available to the public upon request.”

“There were no changes in the Foundation's audit oversight or selection process during the year.”

“As of year-end 2021, in addition to investments to support its operating reserves, the Foundation had undesignated cash and cash equivalents of $1,533,489. Management and the Board of Directors continually manage its undesignated cash to address three primary areas of focus. 1. Maintaining adequate operational reserves to cover shortfalls that may arise due to unexpected conditions. 2. Having resources readily available to expand current program activities and capacity to support increased hospital and family needs. 3. Preparing for future growth in capacity and program activity. The organization has been able to utilize its strong financial position to expand its capacity and serve more families on a yearly basis.”