The Catholic Foundation No Colorado

“Review of other officer compensation: the president recommends the compensation of other officers and the compensation committee approves the compensation. Employees are evaluated on an annual basis with a formal review process and raises are determined by management utilizing industry salary surveys. Personnel costs are included in the annual budget review by the board of trustees.”

“The Board of Trustees delegated authority to the Audit Committee to approve the Audited Financial Reports, Form 990 and Form 990-T. The Audit Committee is made up of 6 members including the Chairman of the Board. One member is a Non-Trustee. All members have extensive professional accounting and/or tax experience and several have CPA certifications.”

“Process to review the form 990: the 990 is completed by the foundation's tax firm, forvis mazars, in cooperation with the foundation's staff. The return is reviewed by management and then by the board's audit committee.”

“Process for monitoring compliance with conflict of interest policy: the board of trustees of the catholic foundation adopted a written conflict of interest policy on march 7, 2005. In addition to trustees and officers, the policy applies to all employees, committee members, and volunteers who may be in a position to exercise substantial influence over the affairs of the foundation. The policy identifies and defines interested parties, the nature of potential conflicts, including use of confidential information for personal gain and a prohibition against loans by/to the foundation to any trustee or officer as well as procedures for disclosure, review, and action on conflicts of interest as they arise. Additionally, the policy requires annual completion of a conflict of interest disclosure statement by those in a position to exercise substantial influence over the affairs of the foundation. The conflict of interest policy together with the conflict of interest disclosure statement and gift policy and disclosure form are distributed annually to officers and trustees. These individuals are asked to review the policy and complete and return both the conflict of interest disclosure statement and the gift policy and disclosure form. In connection with, and prior to the foundation's entering into, any transaction or arrangement that might present an actual or possible conflict of interest, the responsible person involved shall disclose the existence and nature of his or her interest in the transaction, as well as all material facts relating to the transaction. In the case of foundation staff, this disclosure should be made to the president (or if the president is the one with the conflict, then to the board chair), who shall bring the matter to the attention of the board. In the case of trustees, this disclosure should be made to the board chair, (or if the board chair is the one with the conflict, then to the board vice chair), who shall bring the matter to the attention of the board as a whole. If the board or any committee of the board properly delegated such power determines that a conflict of interest exists and cannot be eliminated or avoided and, if appropriate, that a more advantageous transaction or arrangement is not reasonably attainable under circumstances that would not give rise to a conflict of interest, the board or committee shall determine by a majority vote of disinterested trustees whether the transaction or arrangement is in the foundation's best interest and whether the transaction or arrangement is fair and reasonable to the foundation despite the existence of the conflict, based on whether the proposed transaction or arrangement is at least as favorable to the foundation as an arm's-length transaction with disinterested individuals or organizations. The decision of the board or committee shall rest in its sole discretion, but shall be made in good faith and in manner such board or committee reasonably believes to be in the foundation's best interest”

“Review of ceo or top mgmt official compensation: pursuant to i.r.c. 5498, compensation is independently determined by disinterested board members (i.e. The chairman of the board of trustees in consultation with other trustees) on a yearly basis. In making this determination, the chairman relies on appropriate comparability data and then documents the decision in the board of trustee meeting minutes each year. In november 2012, the board hired deacon steven stemper as president and ceo of the foundation. Tom heule, then chairman of the board of trustees, was responsible for the drafting and review of the ceo employment agreement. Mr. Heule utilized the bryan cave law firm to assist in the process. Mr. Stemper's contract was negotiated and agreed to by the executive committee. Mr.stemper's compensation is reviewed and approved annually by the board of directors.”

“Governing documents available to the public: the foundation's governing documents, conflict of interest policy, and financial statements are available upon request. Additionally, the foundation's articles of incorporation are available on the website of the colorado secretary of state.”

“(Expenses $ 4,455,622 including grants of $ 4,373,176) DESCRIPTION OF OTHER PROGRAM SERVICES: THE CATHOLIC FOUNDATION STREGTHENS PARISHES THROUGHOUT NORTHERN COLOARDO, THROUGH GRANTS PROVIDING OPERATING SUPPORT AND CAPITAL NEEDS. IN ADDITION, THE FOUNDATION ASSISTS IN THE ESTABLISHMENT OF PARISH FUNDS TO FACILITATE THE PARISH'S PLANNED GIVING EFFORTS. THE CATHOLIC FOUNDATION CARES FOR THE COMMUNITY BY MAKING GRANTS TO CHARITABLE ORGANIZATIONS HELPING TO BRING THE LIGHT OF CHRIST TO THE POOR AND BROKEN IN OUR WORLD.”