Catholic Community Foundation for the Diocese of Phoenix

“The 990 is prepared by an outside accounting firm and was reviewed by the organization's ceo and cfo. The draft of the 990 was then emailed to the full board of directors and the audit committee prior to being filed with the irs.”

“All directors, members of committees and employees of the foundation shall scrupulously avoid any conflict between their own respective interests and the interest of the foundation in any and all actions taken by them on behalf of the foundation. Situations where directors or members derive financial benefits from the board or committee service should be avoided. However, in the event any directors or members of the foundation should have any direct or indirect interest in, or relationship with, any individual or organization which proposes to enter into any transaction with the foundation for the sale, purchase, lease or rental of property or to render or employ services, personal or otherwise, or receive pecuniary consideration from the foundation in the form of a fee or a grant, such directors or members shall forthwith give the board of directors of the foundation notice with full factual disclosure, of such interest or relationship and shall thereafter absent themselves during both explicit review of the matter by the board of directors and its voting on the matter and refrain from otherwise attempting to affect its decision to participate or not to participate in such transactions. The goal and the policy of the organization is obtain an annual signed conflict of interest from each member of the board of directors.”

“A subcommittee of the board was charged with summarizing the results of comparative salary ranges for the ceo and the cfo using studies from a local university, form 990s from comparable organizations, and also a salary study completed by a nonprofit organization that serves foundations. The subcommittee also relies on advice from the human resources department of the diocese of phoenix for salary grades. The results are forwarded to the executive committee. The ceo works with the executive committee to formulate an employment agreement detailing the salary, benefits and duties of the position. Prior to approval of the ceo's contract, the executive committee and board meets in executive session to discuss and decide on the compensation of the ceo and also advises on other staff positions, such as the cfo. After that process the board votes on the compensation and the results are then included in the organization's budget, which is also approved in total by the board.”

“The organization's articles of incorporation, by-laws, financial statements, and form 990 are all available to the public upon request. The organization does not make the conflict of interest policy documents available to the public.”

“Change in split interest agreements -134,727.”