| FORM 990, PART VI, SECTION B, LINE 11B |
THE FORM 990 IS PREPARED BY THE FOUNDATION'S PROFESSIONAL TAX PREPARER AND REVIEWED IN DETAIL BY THE FOUNDATION'S CFO AND CONTROLLER. A GUIDED DETAIL REVIEW IS THEN PRESENTED TO THE FOUNDATION'S AUDIT AND COMPLIANCE COMMITTEE BY THE FOUNDATION'S PROFESSIONAL TAX PREPARER. THE FORM 990 IS THEN PRESENTED TO THE FOUNDATION'S BOARD OF DIRECTORS, BY THE PROFESSIONAL TAX PREPARER. THE FORM 990 IS THEN FILED WITH THE INTERNAL REVENUE SERVICE. |
| FORM 990, PART VI, SECTION B, LINE 12C |
THE FOUNDATION REQUIRES OFFICERS, DIRECTORS, COMMITTEE MEMBERS, VOLUNTEERS AND ALL EMPLOYEES ("INTERESTED PARTIES") TO DISCLOSE ANY CONFLICTS OF INTEREST. INTERESTED PARTIES MUST DISCLOSE CONFLICTS TO THE CHAIR OF THE BOARD OF DIRECTORS OR OTHER BOARD COMMITTEE CHAIR, AS APPLICABLE. IN THE CASE OF EMPLOYEES, VOLUNTEERS, AND VENDORS, DISCLOSURE IS MADE TO THE CEO OR OTHER STAFF MEMBER, AS APPLICABLE. DEPENDING ON THE PERSON TO WHOM THE CONFLICT OF INTEREST WAS REPORTED, THE FOUNDATION HAS A DEFINED PROCESS TO ADDRESS THE CONFLICT WITH THE APPROPRIATE DECISION MAKING BODY. IN ADDITION, ALL BOARD AND COMMITTEE MEETINGS START WITH A REQUEST FOR ANY MEMBER TO DECLARE ANY CONFLICTS THEY MIGHT HAVE BASED ON THE AGENDA FOR THAT MEETING. IF ANY CONFLICTS ARE REPORTED, THE FOUNDATION FOLLOWS ITS DEFINED PROCESSES THAT PRECLUDES CERTAIN INDIVIDUALS FROM PARTICIPATING IN ANY DECISIONS ABOUT TOPICS WHERE THEY ARE CONFLICTED, OR WHERE CONFLICTS EXIST. |
| FORM 990, PART VI, SECTION B, LINE 15 |
PRESIDENT/CEO: THE EXECUTIVE COMMITTEE OF THE BOARD OF DIRECTORS OF COMMUNITY FIRST FOUNDATION PERIODICALLY COMMISSIONS A SALARY STUDY BY A COMPENSATION AND BENEFITS CONSULTANT, ON A SCHEDULE RECOMMENDED BY THE INDEPENDENT CONSULTANT. IN ADDITION, THE EXECUTIVE COMMITTEE REVIEWS FACTS AND CIRCUMSTANCES OF THE FOUNDATION TO EVALUATE THE NEED TO UPDATE THE SALARY STUDY ON AN INTERIM BASIS. THAT SALARY STUDY IS USED TO ESTABLISH THE SALARY RANGE FOR THE PRESIDENT/CEO. AT THE BEGINNING OF EACH YEAR, THE EXECUTIVE COMMITTEE AND THE PRESIDENT/CEO WORK TO ESTABLISH SPECIFIC GOALS FOR THE PRESIDENT/CEO AND THE ORGANIZATION. INTERIM DISCUSSIONS RELATED TO MONITORING PROGRESS AND ANY MODIFICATIONS TO THE GOALS ARE HELD WITH THE EXECUTIVE COMMITTEE AS NEEDED. AT THE END OF THE YEAR THE PRESIDENT/CEO AND THE EXECUTIVE COMMITTEE REVIEW PERFORMANCE AGAINST THOSE ESTABLISHED GOALS. TOTAL ANNUAL COMPENSATION, WHICH IS BENCHMARKED AGAINST THE EXECUTIVE COMMITTEE-APPROVED SALARY RANGES, IS THEN DISCUSSED BY THE EXECUTIVE COMMITTEE. AFTER DELIBERATING, WHICH DELIBERATIONS INCLUDE THE ACTUAL PERFORMANCE OF THE PRESIDENT/CEO RELATIVE TO THE PERFORMANCE TARGETS, THE EXECUTIVE COMMITTEE THEN DETERMINES TOTAL ANNUAL COMPENSATION OF THE PRESIDENT/CEO. NO COMPENSATED INDIVIDUAL IS PRESENT DURING THE DELIBERATIONS. THE EXECUTIVE COMMITTEE MAINTAINS A CONTEMPORANEOUS WRITTEN RECORD OF THE COMPENSATION PROCESS INCLUDING THE DATA THAT WAS RELIED UPON, A DECLARATION OF ANY CONFLICTS IN THIS DELIBERATION, AND THE RESULTS OF THIS DELIBERATION. SENIOR MANAGEMENT: THE EXECUTIVE COMMITTEE OF THE BOARD OF DIRECTORS OF COMMUNITY FIRST FOUNDATION PERIODICALLY COMMISSIONS A SALARY STUDY BY A COMPENSATION AND BENEFITS CONSULTANT, ON A SCHEDULE RECOMMENDED BY THE INDEPENDENT CONSULTANT. IN ADDITION, THE EXECUTIVE COMMITTEE REVIEWS FACTS AND CIRCUMSTANCES OF THE FOUNDATION TO EVALUATE THE NEED TO UPDATE THE SALARY STUDY ON AN INTERIM BASIS. THAT SALARY STUDY IS USED TO ESTABLISH THE SALARY RANGES FOR THE SENIOR MANAGEMENT. SALARY RANGES ARE APPROVED BY THE EXECUTIVE COMMITTEE, AND THE AUTHORITY TO SET SPECIFIC SALARIES WITHIN THE APPROVED RANGES IS THE RESPONSIBILITY OF THE PRESIDENT/CEO. THE BOARD OF DIRECTORS REVIEWS ANNUAL ORGANIZATIONAL OBJECTIVES, WHICH ARE SPECIFIC MEASURABLE GOALS FOR THE ORGANIZATION. AT THE END OF THE YEAR THE PRESIDENT/CEO REVIEWS PERFORMANCE OF SENIOR MANAGEMENT AGAINST ESTABLISHED GOALS. TOTAL ANNUAL COMPENSATION, WHICH IS BENCHMARKED AGAINST THE EXECUTIVE COMMITTEE-APPROVED SALARY RANGES, IS THEN DETERMINED, BASED UPON THE ACTUAL PERFORMANCE OF THE SENIOR MANAGEMENT RELATIVE TO THE PERFORMANCE TARGETS. THE ORGANIZATION MAINTAINS A CONTEMPORANEOUS WRITTEN RECORD OF THE COMPENSATION PROCESS INCLUDING THE DATA THAT WAS RELIED UPON, A DECLARATION OF ANY CONFLICTS IN THIS DELIBERATION AND THE RESULTS OF THIS DELIBERATION. |
| FORM 990, PART VI, SECTION C, LINE 19 |
FORMS 1023, 990 AND 990T ARE AVAILABLE TO THE PUBLIC UPON REQUEST, IN ACCORDANCE WITH SECTION 6104. THE ORGANIZATION FOLLOWS FEDERAL AND STATE LAWS REGARDING PUBLIC DISCLOSURE OF OTHER GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY AND FINANCIAL STATEMENTS. |
| FORM 990, PART XI, LINE 9: |
AGENCY CONTRIBUTIONS -73,687,595. AGENCY GRANTS & MANAGEMENT FEES 73,093,065. UNRELATED BUSINESS INCOME/LOSS -238,625. CHANGE IN VALUE OF CASH SURRENDER POLICY 62,518. |
| FORM 990, PART VI, LINE 1A |
THE EXECUTIVE COMMITTEE IS A STANDING COMMITTEE OF THE BOARD OF DIRECTORS. THE EXECUTIVE COMMITTEE SHALL HAVE ALL OF THE POWER AND AUTHORITY OF THE BOARD BETWEEN MEETINGS OF THE BOARD, EXCEPT AS LIMITED BY THE COLORADO REVISED NONPROFIT CORPORATION ACT OR THE BYLAWS. THE EXECUTIVE COMMITTEE SHALL BE CHAIRED BY THE CHAIR OF THE BOARD AND CONSIST OF: (1) THE CHAIR, VICE CHAIR, CHAIR EMERITUS (IF ANY), TREASURER AND SECRETARY; (2) THE PRESIDENT; AND (3) SUCH ADDITIONAL DIRECTORS AS THE BOARD APPROVES. THE EXECUTIVE COMMITTEE SHALL: (1) EVALUATE THE PERFORMANCE OF THE PRESIDENT; (2) PERIODICALLY REVIEW THE COMPENSATION AND BENEFITS OF THE PRESIDENT AND SUCH OTHER OFFICERS OF THE CORPORATION AS THE BOARD MAY DETERMINE; AND (3) NOMINATE FOR ELECTION OR APPOINTMENT BY THE BOARD, PERSONS TO SERVE AS DIRECTORS, OFFICERS AND COMMITTEE MEMBERS. |
Attach to Form 990 or 990-EZ.