| Form 990, Part VI, Section A, line 7a |
Members of the Foundation's board of directors are appointed by the Governor of the State of Colorado. |
| Form 990, Part VI, Section A, line 7b |
All amendments to the articles of incorporation and bylaws must be reviewed and approved by the Colorado State Attorney General. |
| Form 990, Part VI, Section B, line 11b |
The independent auditors prepare the Form 990 then submit the return to staff (CEO & CFO) for review. Upon approval, staff presents the Form 990 to the Audit/Finance Committee for review and approval. The final draft is presented to the full Board of Directors prior to filing. |
| Form 990, Part VI, Section B, line 12c |
Once a year, the Board of Directors and the Foundation's staff complete and sign the internal conflict of interest forms. The board members are required to disclose any conflicts on this form and as they may arise during the year. If conflicts arise with potential grantees, the board member with the conflict recuses him/herself from the grant award deliberations process. The Foundation's staff and other board members are expected to monitor this process throughout the year. |
| Form 990, Part VI, Section B, line 15 |
Approximately every 2 years, the CFO creates a compensation evaluation based on independently prepared, industry specific, compensation surveys. The CEO (Executive Committee in the case of CEO's salary review) uses survey data to assess the reasonableness of staff compensation and uses this data during the annual performance review/salary appraisal. CEO and staff salary adjustments are evaluated and approved by the Audit/Finance Committee as part of the annual budget review and approval process. Upon Committee approval, the annual budget (including staff compensation) is presented to the Board of Directors for final approval. In addition, the Foundation benefits package is periodically compared to that of other similar organizations in the Denver area. |
| Form 990, Part VI, Section C, line 19 |
All such documents are maintained on site and made available upon written request. |
| Form 990, Part XII, Line 2c |
The Foundation's oversight process of the financial statement audit and selection process of an independent accountant did not change during the year. |
| Form 990, Part IV, Line 28c: |
It is not uncommon for the members of the Foundation's board of directors to be associated with potential grantees either as board members or paid staff of these organizations. In these instances, the Foundation's Board member discloses the conflict of interest and recuses him/herself from grant award deliberations. Per the Form 990 instructions, no additional disclosure is required regarding these grant transactions since they are directly with the tax exempt grantee organizations, not with the particular Foundation Board member. |
Attach to Form 990 or 990-EZ.