Icicle Fund

“Paul kundtz, as an employee 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. Roger hoesterey worked with paul kundtz as an independent contractor for trust for public land. Both are directors of icicle fund. Robert bugert, as an employee of the chelan douglas land trust, patrick walker, as an employee of the wenatchee river institute and james schroeder, as an employee of the nature conservancy, routinely work in a partnership together on various education and stewardship programs. All are directors of icicle fund. Robert bugert and paul kundtz are both directors of washington wildlife and recreation coalition. 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. Both are directors of icicle fund. Heather murphy, a director of icicle fund, earned $3,787 in 2016 from sales of arts and crafts to related organizations and $1,950 in sales of art to harriet bullitt, a director of icicle fund.”

“The Bylaws were restated in March 2017. Significant changes include that the document no longer includes specific language regarding the powers, selection, and number of directors; instead it refers to the Articles of Incorporation regarding these rules. The Articles of Incorporation were amended in December 2016. Significant changes include an increase in the maximum number of directors from 9 to 15. Designation of board members shall still follow the rule that the members chosen by the Supported Organizations shall have a majority's voting power on the Board. Additionally, remaining Board members shall be designated by Harriet Bullitt during her life, but after her death the remaining Board Members shall be designated by a majority of the other Board Members.”

“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 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.”

“Rent and royalty income property: icicle creek center for the arts type of property: real rental income rental income: lease income $45,600 rental expenses: fire protection and security 332 property taxes 1,049 insurance 44,501 repairs & maintenance 34,757 professional fees 3,504 licenses & permits 158 depreciation 326,146 total expenses 410,447 net rental income (loss) ($364,847)”

“Description ending book value cost or fmv vanguard $23,742,400 fmv vanguard - laf $1,736,964 fmv vanguard - icca 1,998,312 fmv total $27,477,676”

“Other adjustments includes a book/tax depreciation difference of, 130,390.”

“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 06/30/2017. Taxpayer name: icicle fund taxpayer address: 7375 icicle road, leavenworth, wa 98826 taxpayer id number: 91-1943099”