2023-12-14T11:14:32-06:00 2023-06-30 951777440 GREEN HASSON & JANKS LLP 700 SOUTH FLOWER STREET SUITE 3300 LOS ANGELES CA 90017 990 2022-07-01 841582086 POINT FOUNDATION POIN 8338876462 6230 WILSHIRE BOULEVARD A PMB 890 LOS ANGELES CA 90048 JORGE VALENCIA EXECUTIVE DIRECTOR & CEO 8338876462 2023-12-13 1 JORGE VALENCIA 999009999 1 LIZBETH G NEVAREZ P01399868 3108731600 2023-11-29 2 AAL1 IAL1 2022 2023-04-26 12:10:37Z JORGE VALENCIA 6230 WILSHIRE BOULEVARD A PMB 890 LOS ANGELES CA 90048 20263674 0 X WWW.POINTFOUNDATION.ORG X 2001 CO TO GRANT SCHOLARSHIPS TO LESBIAN, GAY, BISEXUAL AND TRANSGENDER (LGBT) STUDENTS OF MERIT. 32 32 24 574 0 0 5859451 10060950 0 0 357756 445517 -237964 57472 5979243 10563939 1273446 1640986 0 0 2504123 2688538 72000 75000 658063 1024117 1291636 4873686 5696160 1105557 4867779 15200510 20236201 499909 456110 14700601 19780091 X POINT FOUNDATION EMPOWERS PROMISING LGBTQ STUDENTS TO ACHIEVE THEIR FULL ACADEMIC AND LEADERSHIP POTENTIAL - DESPITE THE OBSTACLES OFTEN PUT BEFORE THEM - TO MAKE A SIGNIFICANT IMPACT ON SOCIETY. 0 0 3098452 1622078 0 SCHOLARSHIP & SCHOLAR SUPPORT: AS OF JUNE 2023, POINT FOUNDATION (POINT) HAS AWARDED OR WILL AWARD 2,367 SCHOLARSHIPS AND HAS INVESTED MORE THAN $47 MILLION IN OUR LGBTQ SCHOLARS. POINT FOUNDATION CURRENTLY AWARDS FOUR TYPES OF SCHOLARSHIPS: OUR TRADITIONAL FLAGSHIP SCHOLARSHIP FOR STUDENTS PURSUING BACHELOR'S, GRADUATE, OR PROFESSIONAL DEGREES, COMMUNITY COLLEGE SCHOLARSHIPS, BIPOC SCHOLARSHIPS (SPECIFICALLY FOR BLACK, INDIGENOUS AND PEOPLE OF COLOR) AND OPPORTUNITY GRANTS. ALL SCHOLARSHIP PROGRAMS PROVIDE FINANCIAL ASSISTANCE. IN ADDITION, THE FLAGSHIP, COMMUNITY COLLEGE, AND BIPOC SCHOLARSHIPS INCLUDE LEADERSHIP DEVELOPMENT AND ACADEMIC SUPPORT PROGRAMMING DESIGNED TO SUPPORT STUDENT SUCCESS. SCHOLARS BENEFIT FROM A COMMUNITY OF LGBTQ STUDENTS AND ALUMNI, A MENTOR OR COACH, ACADEMIC SUPPORT FROM A SCHOLAR ADVOCATE, LEADERSHIP TRAINING, AND PROFESSIONAL DEVELOPMENT. BY PROVIDING LGBTQ STUDENTS WITH THE FINANCIAL AND PERSONAL RESOURCES TO SUCCEED IN HIGHER EDUCATION, POINT FOUNDATION IS BUILDING A GENERATION OF LGBTQ LEADERS WITH THE SKILLS TO ADVOCATE FOR EQUITY AND BELONGING IN THEIR CHOSEN FIELDS AND ACROSS SOCIETY.DURING THE 2022-2023 ACADEMIC YEAR, POINT FOUNDATION SUPPORTED 558 STUDENTS INCLUDING 70 POINT FLAGSHIP SCHOLARS, 91 COMMUNITY COLLEGE SCHOLARS, 280 BIPOC SCHOLARS AND 117 OPPORTUNITY GRANT RECIPIENTS. AS A CHAMPION FOR EQUAL ACCESS TO HIGHER EDUCATION, POINT FOUNDATION IS PROUD THAT MANY POINT SCHOLARS ARE FROM GROUPS TRADITIONALLY UNDERREPRESENTED ON COLLEGE CAMPUSES. OF THE 2022-23 POINT SCHOLARS: 83% IDENTIFY AS A RACIAL OR ETHNIC GROUP OTHER THAN WHITE; 42% IDENTIFY AS TRANSGENDER OR NON-BINARY; AND 55% ARE THE FIRST IN THEIR FAMILIES TO GO TO COLLEGE.RESEARCH FROM THE NATIONAL MENTORING RESEARCH CENTER PROVIDES EVIDENCE THAT AFFIRMING MENTORING RELATIONSHIPS PROMOTE POSITIVE EDUCATIONAL OUTCOMES FOR LGBTQ YOUTH. POINT'S COMMITMENT TO EFFECTIVE MENTORING AND COACHING STARTS WITH TRAINING MENTORS ON BEST PRACTICES IN LGBTQ MENTORING AND COACHING AT THE BEGINNING OF THE YEAR AND YEAR-END TRAININGS ABOUT DEEPENING THE MENTORING RELATIONSHIP WITH CONTINUING SCHOLARS OR SHIFTING TO AN INFORMAL MENTORING RELATIONSHIP WITH GRADUATING SCHOLARS.A TOTAL OF 107 VOLUNTEERS SERVED AS MENTORS AND COACHES TO FLAGSHIP AND COMMUNITY COLLEGE SCHOLARS. IN AGGREGATE, MENTORS AND COACHES HAD MORE THAN 850 MEETINGS WITH SCHOLARS TO PROVIDE PERSONAL AND PROFESSIONAL DEVELOPMENT. THROUGH AN EXCLUSIVE ONLINE PORTAL, POINT PROVIDES BIPOC SCHOLARS AND OPPORTUNITY GRANT RECIPIENTS WITH YEAR-ROUND ACCESS TO LGBTQ PEERS WHO SHARE THEIR INSIGHTS AND TIPS FOR SUCCESS. BIPOC SCHOLARS ALSO BENEFITTED FROM TWO EXPERT COACHING PANEL DISCUSSIONS FOCUSED ON THE INTERSECTIONAL EXPERIENCES OF LGBTQ BIPOC STUDENTS. ONE SESSION OFFERED STRATEGIES FOR CHALLENGING IMPOSTER SYNDROME AND THE SECOND PROVIDED RESOURCES FOR MENTAL HEALTH AND WELLNESS. 1080678 18908 0 LEADERSHIP DEVELOPMENT: POINT PROVIDED A BLEND OF IN-PERSON AND ONLINE PROGRAMMING IN 2022-23. THE HIGHLIGHT OF THIS YEAR'S IN-PERSON PROGRAMMING WAS THE INAUGURAL CAREER EXPOSURE PROGRAM, WHICH ALLOWED SIX POINT SCHOLARS TO VISIT THE CORPORATE HEADQUARTERS OF COACH AND VICTORIA'S SECRET TO MEET WITH COMPANY EXECUTIVES AND LEADERS FOR EACH COMPANY'S LGBTQ ERG. ONLINE PROGRAMMING IN 2022-23 INCLUDED TWO OPPORTUNITY FAIRS AT WHICH SCHOLARS LEARNED ABOUT INTERNSHIP AND CAREER OPPORTUNITIES AT POINT'S PARTNER COMPANIES, INFORMATIONAL SESSIONS ABOUT WORKING FOR THE WHITE HOUSE THROUGH THE OFFICE OF PRESIDENTIAL PERSONNEL, A FINANCIAL LITERACY WORKSHOP, AND A SEMINAR WITH EMINENT HISTORIAN SUSAN STRYKER. THE COMMUNITY COLLEGE CONFERENCE WAS HELD IN SPRING AND FALL, WITH A TOTAL OF 50 COMMUNITY COLLEGE SCHOLARS ENGAGING WITH SEASONED EXPERTS THAT SHARED CRITICAL SKILLS TO HELP STUDENTS TRANSFER TO A FOUR-YEAR UNIVERSITY AND NAVIGATE THE JOB MARKET. SESSIONS INCLUDED TRANSFER 101, RETHINKING IMPOSTER SYNDROME, NAVIGATING ORGANIZATIONAL CHANGE, EFFECTIVE INTERVIEWING, RESUME WRITING 101, AND NETWORKING TO CREATE OPPORTUNITY.THIS YEAR AND EVERY YEAR OUR PRIORITY IS SERVING OUR STUDENTS, ENABLING THEM TO FULFILL THEIR ACADEMIC GOALS AND, RECOGNIZING THAT LGBTQ PEOPLE ARE UNDERREPRESENTED IN LEADERSHIP ROLES IN ALMOST EVERY INDUSTRY, BECOME THE LEADERS OF TOMORROW. 477923 0 0 SCHOLAR SELECTIONS:THE FLAGSHIP SCHOLARSHIP APPLICATION OPENED OCTOBER 26, 2022, AND CLOSED DECEMBER 28, 2022. WE RECEIVED 2,608 APPLICATIONS. OF THESE, 1,131 ADVANCED TO THE SEMIFINAL ROUND AND WERE ASKED TO SUBMIT ADDITIONAL MATERIALS. 47 CANDIDATES ADVANCED TO THE FINAL ROUND. FINALISTS SUBMITTED A RECORDED PRESENTATION ABOUT THEIR ACADEMIC INTERESTS, LEADERSHIP, AND SERVICE. ULTIMATELY, 23 CANDIDATES WERE SELECTED AS POINT SCHOLARS.THE COMMUNITY COLLEGE SCHOLARSHIP APPLICATION OPENED NOVEMBER 3, 2022, AND CLOSED JANUARY 9, 2023. WE RECEIVED 370 APPLICATIONS. OF THESE, 241 ADVANCED TO THE FINAL ROUND. FINALISTS SUBMITTED A RECORDED PRESENTATION OF THEIR PASSIONS AND ACADEMIC AND PROFESSIONAL GOALS. ULTIMATELY, 94 CANDIDATES WERE SELECTED AS COMMUNITY COLLEGE SCHOLARS.WE RUN TWO SELECTION CYCLES PER YEAR FOR THE BIPOC SCHOLARSHIP. THE FIRST CYCLE OPENED SEPTEMBER 14, 2022, AND CLOSED OCTOBER 26, 2022. WE RECEIVED 487 APPLICATIONS. OF THESE, 161 CANDIDATES WERE SELECTED AS BIPOC SCHOLARS. THE SECOND CYCLE OPENED FEBRUARY 15, 2023, AND CLOSED MARCH 15, 2023. WE RECEIVED 570 APPLICATIONS. ULTIMATELY, 119 CANDIDATES WERE SELECTED AS BIPOC SCHOLARS.OPPORTUNITY GRANT RECIPIENTS DO NOT APPLY; INSTEAD, WE SELECT HIGHLY RATED FLAGSHIP AND COMMUNITY COLLEGE APPLICANTS THAT ADVANCED TO THE SEMIFINALIST AND FINALIST ROUNDS BUT DID NOT RECEIVE ONE OF THOSE SCHOLARSHIPS. WE AWARDED 118 OPPORTUNITY GRANTS IN TOTAL. 4657053 1 1 0 0 0 0 0 0 0 1 1 0 0 0 0 1 1 0 0 0 0 0 0 1 1 0 0 0 1 1 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 1 23 0 1 24 1 0 0 0 0 0 1 1 0 0 0 0 0 0 X 32 32 0 0 0 0 0 0 0 1 0 0 0 1 1 1 1 1 1 1 1 0 CA AL AK AZ AR CT DC FL GA HI IL KS KY LA ME MD MA MI MN MS NH NJ NM NY NC OH OK OR PA RI SC TN UT VA WA WV WI X X SCOTT ARNESON 3239331234 6230 WILSHIRE BLVD SUITE A PMB 890 LOS ANGELES CA 90048 PETER LICHTENTHAL CO-CHAIR 6.00 0.00 X X 0 0 0 BRIAN DENT CO-CHAIR 6.00 0.00 X X 0 0 0 AARON LEIFER CO-VICE CHAIR 6.00 0.00 X X 0 0 0 SARAH MADEY CO-VICE CHAIR 6.00 0.00 X X 0 0 0 JENNA GAMBARO SECRETARY 6.00 0.00 X X 0 0 0 BEN HARMAN TREASURER 6.00 0.00 X X 0 0 0 MARIO ACOSTA-VELEZ BOARD MEMBER (UNTIL 10/2022) 3.00 0.00 X 0 0 0 MICHELLE ADAMS BOARD MEMBER 3.00 0.00 X 0 0 0 MATT BARBEY BOARD MEMBER 3.00 0.00 X 0 0 0 ANDREW CARAVELLA BOARD MEMBER 3.00 0.00 X 0 0 0 BRITTANY ELLENBERG BOARD MEMBER (UNTIL 06/2023) 3.00 0.00 X 0 0 0 GLENN EVANS BOARD MEMBER 3.00 0.00 X 0 0 0 NATHAN FRIEDMAN BOARD MEMBER 3.00 0.00 X 0 0 0 CELINA GERBIC BOARD MEMBER 3.00 0.00 X 0 0 0 DIANA GRESHTCHUK BOARD MEMBER 3.00 0.00 X 0 0 0 ALAN GUNO BOARD MEMBER 3.00 0.00 X 0 0 0 MEGAN HASTINGS BOARD MEMBER 3.00 0.00 X 0 0 0 JIM HOLMES BOARD MEMBER 3.00 0.00 X 0 0 0 KELLY HORTON BOARD MEMBER 3.00 0.00 X 0 0 0 ALEXIA KORBERG BOARD MEMBER 3.00 0.00 X 0 0 0 BEN KOZUB BOARD MEMBER 3.00 0.00 X 0 0 0 PETER LEASE BOARD MEMBER 3.00 0.00 X 0 0 0 MARNIE MERRIAM BOARD MEMBER 3.00 0.00 X 0 0 0 CHRISTOPHER NIZER BOARD MEMBER 3.00 0.00 X 0 0 0 SETH PERSILY BOARD MEMBER 3.00 0.00 X 0 0 0 JERRY ROJAS BOARD MEMBER 3.00 0.00 X 0 0 0 JAKE ROSTOVSKY MA LMFT BOARD MEMBER (UNTIL 01/2023) 3.00 0.00 X 0 0 0 SEAN ROURKE BOARD MEMBER 3.00 0.00 X 0 0 0 EDDIE SANTOS BOARD MEMBER 3.00 0.00 X 0 0 0 STACEY SMITHERS BOARD MEMBER 3.00 0.00 X 0 0 0 CARL STREED BOARD MEMBER 3.00 0.00 X 0 0 0 HILLARY SUPER BOARD MEMBER 3.00 0.00 X 0 0 0 PAUL THOMAS BOARD MEMBER 3.00 0.00 X 0 0 0 RYAN WOOTTEN BOARD MEMBER 3.00 0.00 X 0 0 0 JEN WOHLNER BOARD MEMBER (UNTIL 10/2022) 3.00 0.00 X 0 0 0 PAUL TESTA BOARD MEMBER (UNTIL 07/2022) 3.00 0.00 X 0 0 0 ANTHONY YU BOARD MEMBER 3.00 0.00 X 0 0 0 JORGE VALENCIA EXECUTIVE DIRECTOR & CEO 70.00 0.00 X 336290 0 25574 SCOTT ARNESON CFO 50.00 0.00 X 196040 0 6046 EDWIN PELTO CHIEF DEVELOPMENT OFFICER 50.00 0.00 X 230720 0 16146 MARGAUX COWDEN CHIEF OF PROGRAM 50.00 0.00 X 159896 0 12532 DARRIN J WILSTED SENIOR PROGRAM DIRECTOR 40.00 0.00 X 109892 0 17557 SUSAN L FERRIS HUMAN RESOURCES & FINANCE DIRECTOR 40.00 0.00 X 103044 0 16215 1135882 0 94070 6 0 1 0 LAUTMAN MASKA NEILL & CO 1730 RHODE ISLAND AVE NW STE 301 WASHINGTON DC 20036 DIRECT MAIL AND OTHER SERVICES 140178 1 26245 10034705 72382 10060950 440208 440208 9699234 9693925 5309 5309 5309 11775 26245 5810 5965 5965 OTHER INCOME 900099 51507 51507 51507 10563939 0 0 502989 1640986 1640986 1010364 741499 108866 159999 1268129 930671 103744 233714 32565 23899 3509 5157 220199 161603 23726 34870 157281 115427 16947 24907 5573 5573 40600 40600 75000 75000 15522 15522 119784 119360 424 192555 144919 16790 30846 64286 55587 6430 2269 14076 11876 1425 775 80497 64397 5404 10696 56548 34882 1328 20338 21955 18523 2223 1209 100668 84932 10193 5543 DIRECT MAILING COSTS 274936 266108 8828 0 PUBLIC AWARENESS/PROMO. 162953 156962 2585 3406 EVENTS EXPENSE 135991 83886 3195 48910 TRAINING 2276 2276 3416 1536 1880 5696160 4657053 381044 658063 455975 238612 1944571 949516 1470643 2307520 55324 86915 115343 55937 58235 59406 10994585 16329219 200981 223088 20196 41925 15200510 20236201 499909 456110 499909 456110 X 5970922 6950900 8729679 12829191 14700601 19780091 15200510 20236201 X 4867779 307429 -95718 X X 0 1 X 1 0 X 3590366 4323699 8644333 5859451 10060950 32478799 3590366 4323699 8644333 5859451 10060950 32478799 5050114 27428685 324220 315610 224226 375289 440208 1679553 5965 5965 3095 51507 54602 34218919 0.80160 0.89360 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 4493868 5800 323871 166000 4657539 5156940 8738 -571810 100000 4493868 3549893 984897 672150 50000 5156940 3549267 1727 83899 85000 3549893 6334510 6911 189211 103433 2877932 3549267 0.71440 0.28560 0 0 115343 55937 59406 59406 X 10803839 307429 43711 -95718 255422 10548417 15522 15522 10563939 5724349 43711 43711 5680638 15522 15522 5696160 PART V, LINE 4: THE PRIMARY LONG-TERM FINANCIAL OBJECTIVE FOR POINT'S ENDOWMENT IS TO PRESERVE THE REAL (INFLATION-ADJUSTED) PURCHASING POWER OF ENDOWMENT ASSETS. BOARD-DESIGNATED FUNDS HAVE BEEN ESTABLISHED FOR: (1) A SCHOLARSHIP FUND WHOSE INCOME WILL BE USED TO ESTABLISH A RESERVE FOR FUNDING FUTURE SCHOLARSHIPS OR POSSIBLE MID-YEAR INCREASES IN SCHOLARSHIP AWARDS, AND (2) AN ADMINISTRATIVE RESERVE USED FOR COVERING POSSIBLE UNAVOIDABLE OPERATING DEFICITS. THE BOARD OF DIRECTORS (AFTER CONSIDERATION OF A RECOMMENDATION OF POINT'S FINANCE COMMITTEE) WILL GENERALLY CONSIDER A TARGET SPENDING POLICY EQUAL TO APPROXIMATELY 5% OF THE ENDOWMENT'S AVERAGE THREE-YEAR PORTFOLIO VALUE. DISTRIBUTIONS FROM THE ENDOWMENT ARE MADE AT THE DISCRETION OF POINT'S BOARD OF DIRECTORS, INCLUDING DECISIONS TO MAKE NO DISTRIBUTIONS FROM THE ENDOWMENT, IF APPROPRIATE. PART X, LINE 2: POINT RECOGNIZES THE IMPACT OF TAX POSITIONS IN THE FINANCIAL STATEMENTS IF THAT POSITION IS MORE LIKELY THAN NOT TO BE SUSTAINED ON AUDIT, BASED ON THE TECHNICAL MERITS OF THE POSITION. DURING THE YEAR ENDED JUNE 30, 2023, POINT PERFORMED AN EVALUATION OF UNCERTAIN TAX POSITIONS AND DID NOT NOTE ANY MATTERS THAT WOULD REQUIRE RECOGNITION IN THE FINANCIAL STATEMENTS OR WHICH MIGHT HAVE AN EFFECT ON ITS TAX-EXEMPT STATUS. PART XI, LINE 2D - OTHER ADJUSTMENTS: BAD DEBT -95,718. X X X X X X 1 LAUTMAN MASKA NEILL & CO 1730 RHODE ISLAND AVE NW WASHINGTON DC 20036 DIRECT MAIL CAMPAIGN 0 350144 75000 275144 350144 75000 275144 AL AK AZ AR CA CO CT DE FL GA HI ID IA KY LA ME MD MA MI MN MS MO MT NE NV NH NJ NM NY NC ND OH OK OR PA RI SC SD TN TX UT VT VA WA WV WI WY KS IN IL DC STATE OF POINT 38020 26245 11775 5394 416 38020 26245 11775 5394 416 5810 5965 1 SCHOLARSHIP/STIPEND 553 1622078 18908 FMV SHARED COST OF UNDIVIDED BILL PART I, LINE 2: APPLICANTS MUST COMPLETE AN ONLINE APPLICATION BY THE ANNOUNCED DEADLINE. THE APPLICATION INCLUDES SECTIONS FOR GENERAL, FAMILY AND CITIZENSHIP INFORMATION, ACADEMIC RECORD AND STANDARDIZED TEST SCORES, LEADERSHIP EXPERIENCE, LGBT COMMUNITY EXPERIENCE, FINANCIAL NEED, AND ESSAYS. EACH APPLICATION IS READ AND SCORED BY 2 TO 3 POINT FOUNDATION DIRECTORS, STAFF AND/OR PRE-QUALIFIED/APPROVED VOLUNTEERS. SCORES ARE BASED UPON RUBRICS DEVELOPED FOR THAT PURPOSE, AND READERS ARE TRAINED IN THEIR USE. THE APPLICANT POOL IS NARROWED DOWN TO A GROUP OF SEMI-FINALISTS WHO ARE ASKED TO SUBMIT ADDITIONAL SUPPLEMENTAL MATERIAL, INCLUDING LETTERS OF RECOMMENDATION AND OFFICIAL SCHOOL TRANSCRIPTS. THE PRE-SELECTIONS COMMITTEE MEETS TO REVIEW THE STRONGEST SEMI-FINALISTS AND RANK THE APPLICANTS. CANDIDATES SELECTED FOR FURTHER REVIEW ARE INTERVIEWED BY TELEPHONE, FROM WHICH PROCESS A POOL OF FINALISTS IS SELECTED. FINALISTS ARE INTERVIEWED IN PERSON BY PANELS OF POINT DIRECTORS, TRUSTEES, VOLUNTEERS AND STAFF. ALL SCHOLARSHIP RECIPIENTS MUST SHOW PROOF OF ENROLLMENT IN AN ACCREDITED U.S. COLLEGE OR UNIVERSITY. TUITION AND CAMPUS HOUSING PAYMENTS ARE SENT DIRECTLY TO THE SCHOOL UPON SUBMISSION OF A TUITION INVOICE. A COPY OF THE LEASE MUST BE SUBMITTED BEFORE ANY OFF-CAMPUS RENT PAYMENTS ARE PROCESSED. RECEIPTS AND A CHECK REQUEST ARE REQUIRED FOR OTHER SCHOLARSHIP REIMBURSEMENTS, WHICH ARE REVIEWED AND APPROVED BEFORE REIMBURSEMENT. X X X X X X 0 0 0 0 0 0 0 1 0 JORGE VALENCIA EXECUTIVE DIRECTOR & CEO 277370 0 58920 0 0 0 8605 0 16969 0 361864 0 0 0 EDWIN PELTO CHIEF DEVELOPMENT OFFICER 210120 0 20600 0 0 0 2853 0 13293 0 246866 0 0 0 SCOTT ARNESON CFO 178290 0 17750 0 0 0 5431 0 615 0 202086 0 0 0 MARGAUX COWDEN CHIEF OF PROGRAM 156577 0 3319 0 0 0 4241 0 8291 0 172428 0 0 0 PART I, LINE 7 STAFF BONUSES ARE DETERMINED ON PERFORMANCE EVALUATION AND COMPLETION OF STRATEGIC PLAN OBJECTIVES. X 9 72382 FMV 0 1 1 PART I, COLUMN (B): NONCASH CONTRIBUTIONS ARE LISTED BY TOTAL NUMBER OF CONTRIBUTORS. PART I, LINE 32B: OUR INVESTMENT BROKER HAS A STANDING ORDER TO SELL ALL STOCK GIFTS RECEIVED. FORM 990, PART VI, SECTION A, LINE 8B THIS QUESTION IS NOT APPLICABLE SINCE THE ORGANIZATION DOES NOT HAVE A COMMITTEE WITH AUTHORITY TO ACT ON BEHALF OF THE GOVERNING BODY. FORM 990, PART VI, SECTION B, LINE 11B THE FIRST DRAFT OF THE FORM 990 IS REVIEWED BY THE CFO. THE 990 IS THEN FORWARDED TO THE AUDIT COMMITTEE. THE AUDIT COMMITTEE REVIEWS THE 990 AND SUPPORTING DOCUMENTS AND DISCUSSES THE 990 AND ANNUAL AUDIT WITH THE INDEPENDENT AUDITORS. THE AUDIT COMMITTEE SUBMITS THE 990 AND THE ANNUAL AUDITED FINANCIAL STATEMENTS TO THE BOARD OF DIRECTORS (BOD) WITH A RECOMMENDATION OF ACCEPTING THE FORM 990 OR NOT. AFTER DISCUSSION AT A BOD MEETING, THE BOD VOTES TO ACCEPT OR REJECT THE 990. ONCE ACCEPTED, THE FINAL VERSION OF THE 990 IS FILED WITH THE IRS. FORM 990, PART VI, SECTION B, LINE 12C AT THE BEGINNING OF EACH FISCAL YEAR, DIRECTORS, TRUSTEES AND EMPLOYEES READ AND SIGN-OFF ON POINT'S CONFLICT OF INTEREST POLICY, STATING THAT THEY WILL AVOID ACTIVITIES OR OUTSIDE INTERESTS THAT CONFLICT WITH THE BEST INTERESTS OF POINT FOUNDATION. THE POLICY ALSO REQUIRES THAT THEY FILE A CONFLICT OF INTEREST STATEMENT WITH THE EXECUTIVE DIRECTOR & CEO OF POINT EACH YEAR DISCLOSING ANY ANTICIPATED OR POSSIBLE CONFLICT SITUATIONS PRIOR TO ANY DISCUSSION OR NEGOTIATION OF THE TRANSACTIONS. POINT'S CHIEF OF STAFF COLLECTS, TRACKS AND REVIEWS THESE SIGNED FORMS. A LIST OF BUSINESSES AND/OR ORGANIZATIONS GATHERED FROM THE FORMS IS GIVEN TO THE CFO TO TRACK FINANCIAL DEALINGS THROUGHOUT THE YEAR. FORM 990, PART VI, SECTION B, LINE 15 THE EXECUTIVE DIRECTOR/CEO'S COMPENSATION IS NEGOTIATED AT THE BEGINNING OF THE TERM OF EACH MULTIYEAR CONTRACT RENEWAL; AT THAT TIME, THE BOARD OF DIRECTORS DOES A FULL REVIEW OF OTHER LIKE ORGANIZATIONS' SALARIES, USING IRS 990S, WHICH REVIEW INFORMS ITS OFFER AND APPROVAL OF THE EMPLOYMENT AGREEMENT. ANNUAL INCREASES ARE DETERMINED BY THE TERMS OF THE EMPLOYMENT AGREEMENT; ANNUAL BONUSES ARE DETERMINED BY A PERFORMANCE REVIEW COMPLETED BY THE BOARD OF DIRECTORS AT THE END OF EVERY FISCAL YEAR. FORM 990, PART VI, SECTION B, LINE 15B THE EXECUTIVE DIRECTOR/CEO, ALONG WITH THE CHIEF OF STAFF, USE COMPARABLE DATA TO REVIEW AND APPROVE THE COMPENSATION OF OTHER EMPLOYEES, INCLUDING THE CFO. THE OVERALL COMPENSATION INCREASE IS APPROVED BY THE FINANCE COMMITTEE AND BOARD OF DIRECTORS AS PART OF THE ANNUAL BUDGET APPROVAL PROCESS. FORM 990, PART VI, SECTION C, LINE 19 THE FOLLOWING POLICIES ARE AVAILABLE ON THE ORGANIZATION'S WEBSITE: CONFLICT OF INTEREST POLICY FOR DIRECTORS, TRUSTEES, STAFF, ALUMNI AND SCHOLARS; NON-DISCRIMINATION POLICY; AND PRIVACY POLICY. THE AUDITED FINANCIAL STATEMENTS, FORM 990 AND THE ANNUAL REPORT ARE ALSO AVAILABLE ON THE ORGANIZATION'S WEBSITE. FORM 990, PART XI, LINE 9: BAD DEBT -95,718. FORM 990, PART XII, LINE 2C NO CHANGES WERE MADE TO THE OVERSIGHT PROCESS OR SELECTION PROCESS DURING THE TAX YEAR, AS COMPARED TO THE PRIOR TAX YEAR.