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 the board of directors of vail valley foundation. Therefore, business relationships exist between these individuals.”

“Youthpower365 (yp) entered into a management plan with vail valley foundation (vvf), a related organization, in which vvf assumed the management and administrative duties of yp. Included in this agreement, vvf and yp reconstituted their board of directors. Each entity operates separately under a common board of directors.”

“Youthpower365's board of directors are also the board of directors of vail valley foundation, a related tax-exempt organization.”

“Youthpower365 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 audit committee chairman.”

“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 executive 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 its governing documents and financial statements available to the public upon request.”

“Youthpower365 has a management plan agreement with vail valley foundation (vvf), a related tax exempt organization. As a result, vvf is the employer for purposes of paying wages and benefits. The compensation, benefits, and payroll taxes reported on lines 7, 8, 9, and 10 of part ix represent allocated amounts paid by vvf as part of the management plan agreement. In addition, youthpower 365 is not reporting any paid employees on form 990, part v, line 2 because of the relationship with vvf as stated above.”