Phoenix Public Library Foundation

“Treasurer of the organization distributes a pdf copy of 990 return to all board members for a review and comment prior to being filed. At the first meeting of the board following the filing of the 990 with the irs, the complete form 990 is presented to the board by the organizations lead officers with responsibility over the form 990s review thereafter, questions are taken and the form, its preparation, and its public relation impact is discussed.”

“At each board and committee meeting, if there is a discussion of selecting or engaging a vendor or service provider, all in attendance are asked to recuse themselves from this discussion if there could be a perceived conflict. Annually, the organization reviews and discusses the conflict of interest policy and requests that each board member list and acknowledge any known conflicts.”

“The executive committee reviews the compensation for all officers by comparing their compensation to the compensation of individuals in like positions in comparable organizations using forms 990, compensation studies, and other available data. The committee then approves any changes in compensation based on this information. The organization has no other paid officers or employees meeting the irs definition of a key employee.”

“The organization will provide in a timely manner, copies of all governing documents including its conflict of interest policies and financial statements when requested in writing or in person.”

“Executive director compensation the executive director is an employee of the city of phoenix and all wages and employee benefits are paid by the city of phoenix. The foundation reimburses the city of phoenix semi-annually, on a cost basis, for the executive directors gross wages but not fringe benefits. Per irs instructions for the form 990, all compensation received by the filing organizations officers for serving in their position as an officer, even if paid by an unrelated organization, is required to be reported as officer compensation on the form 990. As such, the compensation the executive director receives from the city of phoenix is listed on part vii and part ix, line 5, as officer compensation from the foundation. No form w-2 or form 1099 is filed by the foundation for the executive director because the city of phoenix is the employer of the executive director for payroll tax filing purposes.”