Icicle Fund

“Compensation for the executive director is determined annually by the executive committee of the board of directors. It is based on an annual performance review and comparability data made available by exponent philanthropy.”

“Board members are notified that form 990 is available for review on the icicle fund website page for board members. They are also told the date of expected submission and are asked for comments and/or corrections prior to that date.”

“Annually members are required to sign a conflict of interest statement that says the member has received a copy of the conflict of interest policy, has read and understands the policy, agrees to comply with the policy, and understands that failure to do so may jeopardize the icicle fund's public charity status. In addition, the policy requires that a periodic review be conducted that, at a minimum, considers whether transactions conform to the icicle fund's written policies, are properly recorded, reflect reasonable investment or payments for goods and services, further charitable purposes and do not result in inurement, impermissible private benefit or in an excess benefit transaction.”

“The organization makes its governing documents, conflict of interest policy, and financial statements available to the public upon request.”

“Harriet bullitt, a member of the board and secretary of the organization, has the right to designate a minority percentage of board members in accordance with article vii of the articles of amendment to the restated articles of incorporation.”

“Roger hoesterey and paul kundtz, as employees of the trust for public land, and robert bugert, as an employee of the chelan douglas land trust, routinely conduct land transactions and work together on capital campaigns. All are directors of icicle fund. Dick rieman is an employee of squared k, llc which is owned by harriet bullitt. Both are directors of icicle fund. Robert bugert and paul kundtz are both directors of washington wildlife coalition and washington association of land trusts. Both are directors of icicle fund.”

“Icicle fund rents facilities to icicle creek center for the arts, a supported organization. The rental activity would be reported on line 2, but in order to properly account for depreciation expense, it is reported on line 6.”

“The organization uses a modified cash method of accounting.”

“Other change in net assets is comprised of book/tax depreciation difference of $131,857.”