Intervalien Foundation

“Intervalien foundation has no employees. The compensation of the employees of the silicon valley community foundation is subject to the normal review and approval process of the community foundation.”

“The employees of silicon valley community foundation, the supported exempt organization, performed the day to day operations of intervalien foundation. The community foundation was reimbursed for these services.”

“There are two classes of directors known as the public charity class and the founding class. The public charity class directors are appointed by the public charity designator, and the founding class directors are appointed by the founding designator.”

“There are no committees with the authority to act on behalf of the governing body.”

“The form 990 is placed on a secured website or sent by email for the governing body to review and comment prior to 990 filing. Review is verified by email.”

“In connection with any actual or possible conflict of interest, an interested person must disclose to the governing board on an annual basis through the "990 and Conflict of Interest" questionnaire and upon discovery of a potential conflict within 30 days. Via the questionnaires, provided by the General Counsel, the interested person must disclose a list of offices and directorships he or she holds in charitable and business organizations and to identify his or her place of employment or principal business activity as well as the organizations, corporations and other businesses with which each person and his or her spouse or other relative may be affiliated. After disclosure by the interested person of all related financial interests and all related material facts, the board will discuss and make a determination if a conflict of interest exists. In the event the organization is considering a procurement of services from an organization in which an interested person is an officer, director, or is employed, the interested person shall so inform the governing board of the conflict. The interested person may be present during the deliberation to answer questions, but must recuse himself/herself from voting on the procurement.”

“In order to determine current year compensation for the organization's president, the organization researched compensation given by other foundations of a similar size. This evaluation was done by the human resources department of svcf, a group independent of intervalien foundation. The contemporaneous substantiation of the evaluation was then communicated to the board.”

“The audited financial statements and governing/organizing documents can be reviewed in the office or provided electronically via an emailed link to the document in box, a secure online content management system, upon request. The conflict of interest policy is not made available to the public.”