Icicle Fund

“Roger hoesterey and paul kundtz, as employees of the trust for public land, robert bugert, as an employee of the chelan douglas land trust, and james schroeder, as an employee of the nature conservancy routinely conduct land transactions and work together on capital campaigns. All are directors of icicle fund. Robert bugert and paul kundtz are both directors of washington wildlife and recreation coalition and washington association of land trusts. Both are directors of icicle fund. Rebecca ryker as an employee of icicle creek center for the arts and partick walker as an employee of the wenatchee river institute occasionally work together to hosts events at icca. Additionally, heather murphy earned $2,222 in 2015 from sales of arts and crafts to related organizations.”

“Harriet bullitt, a member of the board, 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.”

“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.”

“Upon appointment 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. Members receive a copy of the conflict of interest policy at an annual meeting.”

“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.”

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

“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.”

“Rent and royalty income property: icicle creek center for the arts type of property: real rental income rental income: lease income $42,120 rental expenses: fire protection and security 11,880 property taxes 1,199 insurance 44,372 repairs & maintenance 756 professional fees 1,386 bank service charges 71 licenses & permits 81 depreciation 325,779 total expenses 385,524 net rental income (loss) ($343,404)”

“Description ending book value cost or fmv vanguard $23,071,513 fmv vanguard - laf $1,311,802 fmv total $24,383,315”

“Other adjustments includes a book/tax depreciation difference of 131,819. And a reclassification of grants payable to restricted funds 1,594,634.”

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

“Under irc regulation section 1.263(a)-1(f), the taxpayer hereby elects to apply the de minimis safe harbor election for the year ended 06/30/2016. Taxpayer name: icicle fund taxpayer address: 7375 icicle road, leavenworth, wa 98826 taxpayer id number: 91-1943099”