Greater Tacoma Community Foundation

“The audit committee thoroughly reviews the form 990 and recommends it to the board of directors for acceptance. Before filing with the irs, all board members are provided with an electronic copy of the form 990.”

“Each year the conflict of interest policy is distributed in writing to all staff and volunteers. The policy states the purpose of the policy, who is covered, and the duties of a covered person; explains when a conflict of interest does or does not exist; describes the disclosure/evaluation process and procedures for acting on conflict of interest transactions. Each year all staff members and volunteers are required to fill out an acknowledgment statement where they describe any and all connections, relationships or situations which may be a conflict of interest with the community foundation. By signing the acknowledgment form, they indicate that they have carefully read the conflict of interest policy and their responses are complete, true and accurate. At committee and board meetings throughout the year, staff and volunteers who have a conflict of interest with a matter that is before the committee or board verbally disclose the conflict and abstain from discussion and voting. The abstention is documented in the meeting minutes.”

“The board chair appoints an ad hoc compensation committee. During the first quarter of the year, the compensation committee reviews the president/ceo goals for the year. In the fourth quarter of the year, board members complete an evaluation of the president/ceo's performance and the president/ceo completes a self assessment. The compensation committee reviews the results of the performance evaluation and the president/ceo's self assessment. The compensation committee reviews comparable salary data and makes a recommendation to the executive committee regarding the president/ceo's salary and benefits for the upcoming year. The executive committee votes on the recommended action and documents the process, the names of members present, as well as any stated conflicts of interest and abstentions in its meeting minutes. In executive session at the december board meeting, the executive committee reports on the results of the performance evaluation, the president/ceo's self-assessment and the president/ceo's compensation for the upcoming year.”

“The community foundation makes its forms 1023 and 990 available upon request to the general public.”

“The community foundation makes its financial statements available on its website and makes its governing documents and conflict of interest policy available upon request.”

“Change in value of split interest agreements 98,514.”

“The community foundation's audit committee is responsible for the detailed review of the audited consolidated financial statements. The board of directors votes to accept the audited financial statements based on the recommendation of the audit committee. The audit committee is responsible for the process of selecting the independent auditor. The board of directors votes to approve the selection of the independent auditor based on the recommendation of the audit committee.”

“Total revenue is gtcf-only, not consolidated revenue. The amount on line 1 can be found in the supplemental schedules of the audited financial statements.”