Hawaii Community Foundation

“Peter ho mary bitterman chair director business relationship robert s. Harrison alan arizumi director treasurer business relationship john c. Dean paul kosasa director director business relationship peter ho roberta f. Chu chair director business relationship micah kane elliot k. Mills ceo & presid director business relationship”

“A complete draft of the form 990 is reviewed and discussed by senior management and revisions are made as needed. Depending on timing of completion of the 990 one of the following occurs: (1) a revised draft is distributed to all board members to review. The board is given approximately two weeks to comment and have questions answered. Upon satisfactory resolution of all board inquiries, the form 990 is finalized for signature and mailing, or (2) a revised draft is distributed to the board finance & audit committee for review, comment, and discussion at the finance & audit committee meeting. Upon satisfactory resolution of committee inquiries, the form 990 is finalized for signature and mailing and a copy is distributed to all board members to review.”

“Annually all employees are required to complete and sign a conflict of interest statement and disclosure statement. The ceo submits an annual report to the board's executive committee regarding any disclosed duality of interests by employees, the ceo's actions regarding such interest and a list of all disclosed gifts accepted by employees pursuant to the policy. Board members are also annually required to complete and sign a conflict of interest statement. During any board approval actions, a board member must fully discl0se that he or she has any official or family relationship to any prospective grant recipient. Following such disclosure, the board members may share their views on the proposed grant but must abstain from voting on the proposed grant decision.”

“The board's executive committee is tasked with the review and evaluation of the ceo's performance as well as determining the compensation of the ceo. The ceo submits an annual self assessment to the executive committee and the board chair solicits feedback from employees and others regarding the ceo's performance. The chair works with general counsel to obtain and compile data on comparable salaries from local/national surveys of similar sized organizations, inquiries of local nonprofits and local/national salary trend data. The executive committee reviews and discusses the comparability data, reviews with the ceo his performance, sets the performance objectives and compensation for the ensuing year. The executive committee's evaluation and approved ceo compensation are reported to the board during executive session by the board chair and documentation is retained in the ceo/president's personnel file.”

“The ceo or coo and the hr manager are tasked with the review and evaluation of other officers and key employees' performance as well as determining their compensation. Self-assessment, surveys of other employers and a market study of comparable salaries for comparable employees are all utilized to establish compensation. Each employee's evaluation and performance objectives for the next year are retained in his/her personnel file along with the determination of compensation.”

“The organization provides a link on its website for public access to its most recent audited financial statements. The organization's governing documents and conflicts of interest policy are made available upon request.”

“Section a, col (b), line 20 - time shown is as director and does not include time spent as owner of kaimana hila, a hawaii community foundation contractor. Section a, line 21 - see explanation schedule j.”

“Fair value adjustment-pooled income fund -1,476 pooled income (audit only) 1,476”

“Accounting on basis of cash receipts and disbursements, except investments are carried at fair market value, major properties are capitalized, noncash gifts are recorded at fair value at the date received.”