Downtown Tempe Foundation

“The board may appoint an executive committee of the board of directors, consisting of the chair, president, secretary and treasurer of the corporation. The executive committee shall have the authority and responsibility of exercising the power and duties of the board of directors, in accordance with the policies established by the board of directors, between meetings of that board. The executive committee may be convened by the chair, president, secretary or treasurer at any time on any type of notice. One-half (1/2) of the executive committee shall constitute a quorum and the concurrence of the majority of those present shall be sufficient to conduct the business of the executive committee. Meetings of the executive committee shall be open to all members of the board who shall be entitled to speak at any executive committee meeting which they attend. The executive committee shall keep minutes of all meetings, and all actions taken by the executive committee shall be reviewed and, whenever possible, ratified by the board of directors at its next meeting.”

“The form 990 is prepared by the organization's public accounting firm based on information provided by management. Once the draft is available, it is reviewed by management and any changes incorporated into the filing. Once this detailed review is complete, the draft of the form 990 is presented to the board of directors for their review and comments prior to filing with the irs.”

“At our annual meeting board members are asked to disclose any and all conflict by confirming such in a written document that is kept within the organizations files.”

“The executive director/president is employed by the related organization, downtown tempe authority. The compensation procedures that the related organization performs for the executive director/pesident is as follows: the executive directors/president's performance is reviewed annually by the executive committee based on execution of predetermined goals. Salary is reviewed based on industry nationwide standards. The organization purchases an annual salary survey that is executed by a national organization and includes regional comparisons for job descriptions within this industry. All key employees salaries are reviewed based on this standard and the survey is shared with the employees. This process was last completed in 2021. Compensation decisions are documented in each employee's personnel file.”

“The organization's governing documents, conflict of interest policy, and financial statements are available upon request.”

“Other professional services: program service expenses 0. Management and general expenses 297. Fundraising expenses 0. Total expenses 297. Consulting: program service expenses 16,000. Management and general expenses -90. Fundraising expenses 0. Total expenses 15,910.”