Youthpower365

“The president and chief financial officer are employed by vail valley foundation, a related exempt organization. Members of the board are also members of vail valley foundation. Therefore, business relationships exist between these individuals.”

“The youth foundation (yf) entered into a management plan with vail valley foundation (vvf), a related organization, in which vvf assumed the management and administrative duties of yf. Included in this agreement, vvf and yf reconstituted their board of directors. Each entity operates separately under a common board of directors.”

“The foundation's board of directors are also the board of directors of vail valley foundation, a related tax-exempt organization. Part vi, line 6 and lines 7a-b: although the foundation does not have any members or stockholders, their board of directors are elected by vail valley foundation (vvf), a related nonprofit organization. Each board member serving on the vvf's board of directors shall at the same time serve as members of the board of directors of the youth foundation.”

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

“A copy of the form 990 is reviewed by the chief financial officer and the controller before filing.”

“The conflict of interest policy covers all officers, directors, and other top management officials. The existence of any potential conflict of interest shall be disclosed to the cfo and/or the board of directors, who shall determine whether a conflict of interest exists. In the event a conflict of interest does exists, the cfo and/or board of directors will determine whether or not the individual with the conflict should be recused from the deliberation on the matter and whether the contemplated transaction may be authorized as just, fair and reasonable to the foundation.”

“The top management official, top financial official, other officers, and key employees are compensated by vail valley foundation, a related organization, that has a compensation committee composed of board members that meets at the end of each year. Prior to the meeting, the cfo provides the committee with a package summarizing compensation information, which contains comparable compensation data for these positions. At the meeting they determine if they will approve any compensation adjustments for the ceo, other officers, and key employees for the upcoming year.”

“The organization makes it governing documents and financial statements available to the public upon request.”

“The following parts and schedules of the originally filed 2013 form 990 were amended as follows: form 990, part i, line 8 - changed the total contributions and grants amount based on changes made to the amended return. Form 990, part i, line 20 - changed the total assets amount based on changes made to the amended return. Form 990, part i, line 21 - changed the total liabilities amount based on changes made to the amended return. Form 990, part i, line 22 - changed the total net assets or fund balance amount based on changes made to the amended return. Form 990, part viii, line 1f - changed the amount of all other contributions, gifts, grants, and similar amounts. Form 990, part viii, line 12, column a - changed the total revenue amount based on changes made to the amended return. Form 990, part x, line 4 - changed the total accounts receviable amount. Form 990, part x, line 16 - changed the total assets amount based on changes made to the amended return. Form 990, part x, line 25 - changed the total other liabilities amount based on changes made to the amended return. Form 990, part x, line 28 - changed the total temporarily restricted net assets amount. Form 990, part x, line 34 - changed the total liabilities and net assets/fund balances amount based on changes made to the amended return. Form 990, part xi, line 1 - changed the total revenue amount based on changes made to amended return. Form 990, part xi, line 3 - updated the revenue less expenses line for changes made to amended return. Form 990, part xi, line 10 - changed the total net assets of fund balances at end of year amount based on changes made to amended return. Schedule a, part ii, section a, line 1, columns (e) - udpated total gifts, grants, contributions, and memberships fees recevied based on changes to the amended return. Schedule a, part ii, section a, line 5, column (f) - adjusted the portion of total contributions by each person (other than a governmental unit or publicly supported organization) included on line 1 that exceeds 2% of the amount shown on line 11 (f) based on changes made to the amended return. Schedule a, part ii, section c, line 14 - changed the public support percentage for 2013 based on changes made to the amended return. Schedule b, part i - remvoed contributor from the schedule b listing based on changes made to the amended return. Schedule d, part v, line 1b - updated the amount of contributions based on changes made to the amended return. Schedule d, part x, line 1 - updated the due to affiliated organization amount based on changes made to the amended return. Schedule d, part xi, line 1 - updated the total revenue, gains, and other support per audited financial statements based on changes made to amended return.”