| FORM 990, PART VI, SECTION A, LINE 6 |
THE FOUNDATION HAS AT LEAST 25, BUT NOT MORE THAN 200 MEMBERS. THE MEMBERSHIP SHALL INCLUDE REPRESENTATION FROM EACH COUNTY IN VERMONT, IT BEING THE PURPOSE OF THIS PROVISION TO MAKE THE MEMBERSHIP AS REPRESENTATIVE AS POSSIBLE OF THE ENTIRE STATE. AT LEAST 75% OF THE MEMBERS SHALL BE RESIDENTS OF THE STATE OF VERMONT. THE MEMBERSHIP'S DUTIES ARE TO ELECT THE DIRECTORS OF THE BOARD, ELECT MEMBERS, UPON REQUEST CONSULT AND ADVISE THE BOARD ABOUT MATTERS AFFECTING THE FOUNDATION AND PROMOTE THE PURPOSES AND METHODS OF OPERATIONS OF THE FOUNDATION. |
| FORM 990, PART VI, SECTION A, LINE 7A |
THE MEMBERS ELECT THE BOARD OF DIRECTORS. |
| FORM 990, PART VI, SECTION B, LINE 11B |
THE FINANCE, AUDIT, AND RISK (FAR) COMMITTEE, COMPRISED OF MEMBERS OF THE BOARD OF DIRECTORS OF THE FOUNDATION, RECEIVE AND REVIEW A COPY OF THE FORM 990. THE FAR COMMITTEE DISCUSSES THE FORM 990 WITH FINANCE STAFF PRIOR TO ITS FILING. IN ADDITION, THE BOARD OF DIRECTORS RECEIVE A COPY OF THE FORM 990 PRIOR TO THE FILING OF THE FORM. |
| FORM 990, PART VI, SECTION B, LINE 12C |
THE FOUNDATION HAS ESTABLISHED A CONFLICT OF INTEREST POLICY AND A CONFIDENTIALITY POLICY. THIS POLICY IS IMPLEMENTED AS FOLLOWS: A) ANNUALY, THE VP OF FINANCE/CFO DISTRIBUTES AND REVIEWS THE CONFLICT OF INTEREST POLICY AND CONFIDENTIALITY POLICY WITH THE FOUNDATION STAFF. THE POLICIES ARE DISCUSSED AND THE STAFF COMPLETE THE ACKNOWLEDGEMENT FORM INDICATING UNDERSTANDING OF THE POLICY. AS PART OF THIS PROCESS, STAFF IDENTIFY ANY POTENTIAL CONFLICTS TO THE VP OF FINANCE WHICH IS SUMMARIZED BY HUMAN RESOURCE AREA FOR VISIBILITY. THIS DATA IS USED TO ENSURE THAT THE FOUNDATION IS INDEPENDENT IN ITS DECISION MAKING. EVERY STAFF IS REQUIRED TO COMPLETE THE FORMS. B) ANNUALLY, THE BOARD REVIEWS THE POLICIES WITH EACH DIRECTOR RETURNING THE SIGNATURE OF UNDERSTANDING PAGE ALONG WITH A LIST OF IDENTIFYING CONFLICTS. VP OF FINANCE PROVIDES A SUMMARY TO AUDIT COMMITTEE TO ENSURE CONFLICTS ARE DISCLOSED AND PROPER ABSTAINING OCCURS. C) NEW STAFF AND BOARD MEMBERS ARE INFORMED OF THESE POLICIES AS PART OF THEIR ORIENTATION MATERIALS AND RETURN THE ACKNOWLEDGEMENT OF UNDRESTANDING AND POTENTIAL CONFLICTS TO HUMAN RESOURCES. D) AT EACH BOARD MEETING, BOARD MEMBERS DISCLOSE ANY CONFLICTS AND ABSTAIN FROM VOTING AND/OR LEAVE THE MEETING AS APPROPRIATE. |
| FORM 990, PART VI, SECTION B, LINE 15 |
THE FOUNDATION'S BOARD OF DIRECTORS REVIEWS THE PRESIDENT/CEO'S SALARY ANNUALLY AND USES THE GUIDESTAR ANNUAL SALARY SURVEY FOR COMMUNITY FOUDNATIONS AS WELL AS COMPRABLE VERMONT BASED NON-PROFITS AS A GUIDELINE TO DETERMINE THE APPROPRIATENESS OF THE SALARY AND/OR ANY ADJUSTMENTS. THE FOUNDATION SEEKS TO HAVE THE PRESIDENT/CEO'S SALARY BE WITHING THE RANGE FOR FOUNDATIONS OF COMPARABLE SIZE, AS ADJUSTED FOR THE REPORTING PERIOD LAG. ALL OTHER STAFF SALARIES ARE ESTABLISHED BY THE PRESIDENT AND VP OF FINANCE/CFO USING THE SAME METHOD DESCRIBED ABOVE. JOBS ARE MATCHED TO THE GUIDESTAR AS WELLL AS VERMONT BASED SURVEYS AS AVAILABLE FOR THE SAME OR SIMILAR POSITIONS BASED ON CONTENT AND RESPONSIBILITIES. PERFORMANCE REVIEWS ARE PERFORMED BY THE CEO ON AN ANNUAL BASIS FOR SENIOR MANAGEMENT. ALL OTHER STAFF RECEIVE PERFORMANCE REVIEWS FROM THIER SUPERVISORS. |
| FORM 990, PART VI, SECTION C, LINE 19 |
THE FOUNDATION POSTS ITS AUDITED FINANCIAL STATEMENTS, IRS 501(C)(3) DETERMINATION LETTER, CONFLICT OF INTEREST POLICY AND FORM 990 ON ITS WEBSITE AT WWW.VERMONTCF.ORG. THE FOUNDATION PROVIDES ITS ARTICLES OF INCORPORATION, BYLAWS, AND FORM 1023 UPON REQUEST. |
Attach to Form 990 or 990-EZ.