2021-08-04T17:18:50-05:00 2020-09-30 591753337 KERKERING BARBERIO & CO PO BOX 49348 SARASOTA FL 342306348 990 2019-10-01 510188568 SARASOTA MEMORIAL HEALTHCARE FOUNDATION INC SARA 9419171286 1515 SO OSPREY AVE NO B4 SARASOTA FL 34239 ROBERT PETTIT VP FINANCE & OPERATIONS 9419171286 2021-07-19 1 REBECCA U STONER P00585910 9413654617 2019 2022-09-23 18:48:47Z ROBERT PETTIT 1515 SO OSPREY AVE NO B4 SARASOTA FL 34239 78608464 0 X WWW.SMHF.ORG X 1976 FL SARASOTA MEMORIAL HEALTHCARE FOUNDATION, INC. IS AN INDEPENDENT CHARITABLE ORGANIZATION WORKING TOGETHER WITH SARASOTA MEMORIAL HEALTH CARE SYSTEM AND OTHERS TO ENSURE WORLD CLASS HEALTHCARE THROUGHOUT OUR COMMUNITY. 21 21 16 35 5416 1576 14336477 40908480 0 0 2045658 6449632 -64933 55272 16317202 47413384 5279946 5829483 0 0 1848820 1958486 146153 142351 1834134 1019718 998110 8294637 8928430 8022565 38484954 56851119 91301745 8832039 10208438 48019080 81093307 X SARASOTA MEMORIAL HEALTHCARE FOUNDATION, INC. IS AN INDEPENDENT CHARITABLE ORGANIZATION WORKING TOGETHER WITH SARASOTA MEMORIAL HEALTH CARE SYSTEM AND OTHERS TO ENSURE WORLD CLASS HEALTHCARE THROUGHOUT OUR COMMUNITY. 0 0 3365803 3365803 0 GRANTS TO SARASOTA COUNTY PUBLIC HOSPITAL BOARD, SARASOTA MEMORIAL HOSPITAL AND OTHER NOT-FOR-PROFIT HEALTHCARE ORGANIZATIONS IN SARASOTA COUNTY FOR RESEARCH, PATIENT CARE AND OTHER NEEDS WITH PROGRAMS THAT WILL IMPROVE EFFICIENCY, EFFECTIVENESS, PATIENT SAFETY, AVAILABILITY AND ADVOCACY OF HEALTH CARE IN AN ENVIRONMENT OF WELL BEING FOR OVER 1M INPATIENT AND OUTPATIENT/PHYSICIAN VISITS PER YEAR. SARASOTA MEMORIAL HOSPITAL IS THE ONLY HOSPITAL IN FLORIDA TO CONSISTENTLY EARN THE HIGHEST 5-STAR RATING FROM THE FEDERAL CENTERS FOR MEDICARE & MEDICAID SERVICES (CMS) AND HAS RECEIVED CONSECUTIVE "A" GRADES FOR PATIENT SAFETY BY THE LEAPFROG GROUP SINCE PARTICIPATING IN THE SURVEY IN 2016. 1837007 1837007 0 GRANTS TO SARASOTA COUNTY PUBLIC HOSPITAL BOARD, SARASOTA MEMORIAL HOSPITAL FOR FACILITIES AND EQUIPMENT THAT WILL PROVIDE THE MOST ADVANCED, STATE OF THE ART TREATMENTS AND HIGHEST QUALITY OF CARE AND COMFORT FOR OVER 41,700 INPATIENTS, PLUS 3,861 BIRTHS AND 4,150 TRAUMA PATIENTS ANNUALLY. IT IS RANKED #1 IN THE SUNCOAST AND "BEST HOSPITAL" IN THE SOUTH FLORIDA REGION FOR OVERALL CARE, BY U.S. NEWS & WORLD REPORT, AND IS ONE OF JUST 37 HOSPITALS TO RECEIVE THE TOP RATINGS IN ALL NINE PROCEDURES AND CONDITIONS U.S. NEWS EVALUATED IN ITS 2019-20 BEST HOSPITALS REPORT. SARASOTA MEMORIAL HOSPITAL IS ONE OF BECKER'S HEALTHCARE REVIEW'S "AMERICA'S TOP 100 HOSPITALS. 626673 626673 0 GRANTS TO SARASOTA COUNTY PUBLIC HOSPITAL BOARD, SARASOTA MEMORIAL HOSPITAL FOR PROFESSIONAL AND COMMUNITY EDUCATION PROGRAMS REPRESENTING CONTINUING MEDICAL AND PROFESSIONAL EDUCATION, PROFESSIONAL CERTIFICATION AND ONGOING EDUCATIONAL PROGRAMS FOR OVER 1,100 PHYSICIANS, 6,700 NURSES, THERAPISTS AND OTHER EMPLOYEES AS WELL AS PATIENTS, THEIR FAMILIES AND THE PUBLIC. SARASOTA MEMORIAL HOSPITAL IS THE ONLY HOSPITAL IN THE REGION TO EARN MAGNET NURSING SERVICES RECOGNITION, THE NATION'S HIGHEST HONOR FOR NURSING EXCELLENCE. 1750 0 0 EDUCATIONAL PUBLICATION AND SYMPOSIA FOR THE DISSEMINATION OF HEALTH CARE NEWS AND INFORMATION TO MEDICAL PROFESSIONALS AND THE COMMUNITY. 1750 0 0 5831233 1 1 0 0 0 0 0 1 0 1 1 0 0 1 1 1 1 0 0 0 0 0 0 1 1 0 0 1 1 1 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 1 25 0 1 16 1 1 1 0 0 0 0 1 1 0 0 0 0 0 0 X 21 21 0 0 1 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 FL X ROBERT PETTIT 9419171286 1515 OSPREY AVE SUITE B4 SARASOTA FL 34239 ROBERT G BARTNER TRUSTEE 5.00 X 0 0 0 ARIANE M DART TRUSTEE 5.00 X 0 0 0 ERIC KAPLAN TRUSTEE 5.00 X 0 0 0 THOMAS F KELLY MD TRUSTEE 5.00 X 0 0 0 GWEN MACKENZIE TRUSTEE 5.00 X 0 0 0 ROBERT P MARTIN TRUSTEE 5.00 X 0 0 0 JONATHAN E MITCHELL TRUSTEE 5.00 X 0 0 0 JOEL MORGANROTH MD TRUSTEE 5.00 X 0 0 0 KIRK VOELKER MD TRUSTEE 5.00 X 0 0 0 MARGARET WISE TRUSTEE 5.00 X 0 0 0 DAVID VERINDER EX-OFFICIO 5.00 X 0 0 0 ROBERT L WOOD EXEC COMMITTEE MEMBER-AT-L 5.00 X 0 0 0 PHILIP A DELANEY JR EXEC COMMITTEE MEMBER-AT-L 5.00 X 0 0 0 DEBORAH KABINOFF EXEC COMMITTEE MEMBER-AT-L 5.00 X 0 0 0 WILLIAM A STANFORD EXEC COMMITTEE MEMBER-AT-L 5.00 X 0 0 0 MICHAEL J VALENTINO EXEC COMMITTEE MEMBER-AT-L 5.00 X 0 0 0 MARY EVELYN GUYTON SECRETARY 10.00 X X 0 0 0 CHARLES SHIVERY VICE CHAIR THRU APRIL 2020 10.00 X X 0 0 0 WILLIAM E CHAPMAN II CHAIR 10.00 X X 0 0 0 JIM D SYPRETT IMMEDIATE PAST CHAIR 5.00 X X 0 0 0 RICHARD GERRITY TREASURER 10.00 X X 0 0 0 G MASON AYRES PRESIDENT 50.00 X 289198 0 30999 BOBBY PETTIT VP FINANCE & OPERATIONS 50.00 X 157182 0 12378 CRAIG A MORAN DIR. OF DEVELOPMENT 50.00 X 155844 0 11673 SALLY A SCHULE DIR. OF COMMUNITY ENGAGEME 50.00 X 145947 0 11451 PATRICIA MAHLER DIR. OF COMMUNICATIONS 50.00 X 129858 0 11298 PATRICK J MCQUILLAN DIR. OF DEVELOPMENT 50.00 X 124802 0 28424 1002831 0 106223 6 0 1 0 THE RITZ-CARLTON 1111 RITZ-CARLTON DR SARASOTA FL 34236 EVENTS & ACCOMODATIONS 226764 CAMPBELL & CO ONE EAST WACKER DR STE 2100 CHICAGO IL 60601 CONSULTING 138721 2 918224 39990256 5421231 40908480 708420 708420 36511028 30769816 5741212 5741212 5741212 414407 918224 425264 -10857 -10857 PARTNERSHIP K-1 900099 64268 5416 58852 OTHER INCOME 900099 1861 1861 66129 47413384 0 5416 6499488 5689483 5689483 140000 140000 674883 284240 390643 1052797 363737 689060 44568 17442 27126 63455 24484 38971 122783 47885 74898 49152 49152 26000 26000 142351 142351 16211 16211 170011 170011 83769 13755 70014 50800 25400 25400 2108 2108 1589 1589 51063 16851 34212 16607 16607 FEDERAL TAX PAYMENTS 8135 8135 PURCHASED SERVICES 394884 257727 137157 MAINTENANCE 57152 22861 34291 EXPENSES REPORTED ON K- 41186 41186 29443 1750 27693 8928430 5831233 1263063 1834134 75 175 6101628 7420080 6375836 30840511 2778 54 215369 236605 919968 778613 134074 141355 37352204 45200763 6669155 7462202 56851119 91301745 159960 286678 8545059 9422219 374544 127020 124997 8832039 10208438 X 13202516 11035960 34816564 70057347 48019080 81093307 56851119 91301745 X 38484954 -4034832 -1375895 X X 0 1 X 1 0 X 3577471 3470963 10074172 14336477 40908480 72367563 3577471 3470963 10074172 14336477 40908480 72367563 31821330 40546233 709781 447294 723178 1211018 708420 3799691 4860 4653 19763 2576 31852 1576 -504 24138 115238 63553 204001 76403107 2070627 0.53070 0.65890 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED X DECORATIVE 0 29208642 6992 1265246 18513595 11967285 29048035 122053 749320 710766 29208642 27881059 100237 1764012 697273 29048035 25676546 111906 2771304 678697 27881059 23172362 1112114 1739368 346588 710 25676546 0.01840 0.74110 0.24050 1 0 919968 778613 141355 141355 ASSETS HELD IN CHARITABLE TRUSTS 126760 BEQUESTS RECEIVABLE 6062254 BENEFICIAL INTEREST IN PERPETUAL TRUSTS 936729 CONTRIBUTIONS RECEIVABLE FROM CHARITABLE REMAINDER TRUSTS 336459 7462202 ANNUITIES PAYABLE 45727 LIABILITY UNDER TRUST AGREEMENTS 79270 124997 X 43887675 -4034832 384854 204748 -3445230 47332905 16211 64268 80479 47413384 10813448 1942415 1942415 8871033 16211 41186 57397 8928430 PART III, LINE 1A: THE ART COLLECTIONS, WHICH WERE ACQUIRED THROUGH CONTRIBUTIONS SINCE THE FOUNDATION'S INCEPTION, ARE NOT REFLECTED ON THE FINANCIAL STATEMENTS, WHICH IS IN ACCORDANCE WITH ACCOUNTING PRINCIPLES GENERALLY ACCEPTED IN THE UNITED STATES OF AMERICA. THE FOUNDATION'S COLLECTIONS ARE MADE UP OF ART OBJECTS THAT ARE HELD FOR CURATORIAL PURPOSES. EACH OF THE ITEMS ARE CATALOGED, PRESERVED, AND CARED FOR, AND ACTIVITIES VERIFYING THEIR EXISTENCE AND ASSESSING THEIR CONDITION ARE PERFORMED CONTINUOUSLY. NONE OF THE COLLECTION ITEMS WERE DEACCESSIONED DURING THE YEARS ENDED SEPTEMBER 30, 2020 OR 2019. PART III, LINE 4: THE ART COLLECTIONS, WHICH WERE ACQUIRED THROUGH CONTRIBUTIONS SINCE THE FOUNDATION'S INCEPTION, ARE NOT REFLECTED ON THE FINANCIAL STATEMENTS, WHICH IS IN ACCORDANCE WITH ACCOUNTING PRINCIPLES GENERALLY ACCEPTED IN THE UNITED STATES OF AMERICA. THE FOUNDATION'S COLLECTIONS ARE MADE UP OF ART OBJECTS THAT ARE HELD FOR CURATORIAL PURPOSES. EACH OF THE ITEMS ARE CATALOGED, PRESERVED, AND CARED FOR, AND ACTIVITIES VERIFYING THEIR EXISTENCE AND ASSESSING THEIR CONDITION ARE PERFORMED CONTINUOUSLY. NONE OF THE COLLECTION ITEMS WERE DEACCESSIONED IN 2020 OR 2019. PART V, LINE 4: THE INCOME FROM ENDOWMENT IS USED TO SUPPORT THE OPERATIONS AND PROGRAMS OF THE ORGANIZATION ACCORDING TO THE RESTRICTIONS DESCRIBED BY THE DONOR, OR THE BOARD OF TRUSTEES IN THE CASE OF BOARD DESIGNATED ENDOWMENTS. PART X, LINE 2: UNDER THE INCOME TAXES TOPIC OF THE FASB ACCOUNTING STANDARDS CODIFICATION, THE FOUNDATION HAS REVIEWED AND EVALUATED THE RELEVANT TECHNICAL MERITS OF EACH OF ITS TAX POSITIONS IN ACCORDANCE WITH ACCOUNTING PRINCIPLES GENERALLY ACCEPTED IN THE UNITED STATES OF AMERICA FOR ACCOUNTING FOR UNCERTAINTY IN INCOME TAXES, AND DETERMINED THAT THERE ARE NO UNCERTAIN TAX POSITIONS THAT WOULD HAVE A MATERIAL IMPACT ON THE FINANCIAL STATEMENTS. PART XI, LINE 2D - OTHER ADJUSTMENTS: UNREALIZED GAIN ON PERPETUAL TRUSTS 25,314. CHANGE IN VALUE OF SPLIT INTEREST AGREEMENT 179,434. PART XI, LINE 4B - OTHER ADJUSTMENTS: INVESTMENT INCOME FROM SCHEDULE K-1'S 64,268. PART XII, LINE 2D - OTHER ADJUSTMENTS: ADJUSTMENT BAD DEBT RESERVE 1,942,415. PART XII, LINE 4B - OTHER ADJUSTMENTS: INVESTMENT EXPENSES REPORTED ON K-1'S RECEIVED 41,186. SCHEDULE D PART V LINE 1E THESE ARE FUNDS FROM BOARD DESIGNATED, QUASI-ENDOWMENT FUNDS THAT THE BOARD RELEASED DURING THE YEAR INTO NET ASSETS WITHOUT DONOR RESTRICTIONS. X X X X X X 0 CAMPBELL & CO 1 E WACKER DR STE 2100 CHICAGO IL 60601 CONSULTING 0 138721 138721 0 138721 138721 FL GALA 2020 1331799 918224 413575 204348 78965 118937 1331799 918224 413575 204348 78965 118937 402250 11325 SCHEDULE G, PART I, LINE 2B, COLUMN (V) FIXED SERVICE FEES FOR FUNDRAISING COUNSEL; CONSULTANT SUBMITS RECEIPTS FOR EXPENSE REIMBURSEMENT AT COST. 1 SARASOTA COUNTY PUBLIC HOSPITAL BOARD SARASOTA MEMORIAL HEALTHCARE SYSTEMS 1700 S TAMIAMI TRAIL SARASOTA FL 34239 596012500 SARASOTA COUNTY 5627233 EDUCATION, FACILITIES AND EQUIPMENT, RESEARCH, PATIENT CARE AND OTHER INTERNATIONAL SOCIETY FOR CARDIOVASCULAR DISEASE PREVENTION INC 1950 ARLINGTON ST SUITE 300 SARASOTA FL 34236 814098165 501(C)(3) 24750 EDUCATION AND SUPPORT FOR CARDIOVASCULAR DISEASE PREVENTION SYMPOSIUM FLORIDA CANCER SPECIALISTS FOUNDATION 5985 SILVER FALLS RUN SUITE 210 LAKEWOOD RANCH FL 34211 204616813 501(C)(3) 15000 PATIENT SUPPORT FOR THE NEEDY 3 0 COVID-19 EMPLOYEE CARE FUND 560 140000 PART I, LINE 2: GRANTS ARE RESTRICTED TO QUALIFIED EXEMPT HEALTH CARE-RELATED ORGANIZATIONS WITHIN SARASOTA COUNTY, FLORIDA. PRIOR TO AUTHORIZING DISBURSMENTS, THE BOARD OF TRUSTEES DETERMINES THAT ORGANIZATIONS TO RECEIVE PAYMENT ARE: (1) A LOCAL GOVERNMENTAL UNIT AS DESCRIBED IN SECTION 170 (B), OR (2) AN ORGANIZATION OTHERWISE EXEMPT UNDER 501(C)(3) BY EXAMINING THE ORGANIZATION'S LETTER AND THAT THE USE OF THE GRANT IS FOR CHARITABLE PURPOSES DESCRIBED IN SECTIONS 170(C)(1) AND 170(B). THE SARASOTA COUNTY PUBLIC HOSPITAL BOARD, SARASOTA MEMORIAL HOSPITAL IS A LOCAL GOVERNMENTAL UNIT DESCRIBED IN SECTION 170(B). X X X 0 0 0 0 0 0 0 0 0 G MASON AYRES PRESIDENT 233648 0 55550 0 0 0 5184 0 25815 0 320197 0 0 0 BOBBY PETTIT VP FINANCE & OPERATIONS 144219 0 12963 0 0 0 3591 0 8787 0 169560 0 0 0 CRAIG A MORAN DIR. OF DEVELOPMENT 149323 0 6521 0 0 0 2886 0 8787 0 167517 0 0 0 SALLY A SCHULE DIR. OF COMMUNITY ENGAGEME 139018 0 6929 0 0 0 2664 0 8787 0 157398 0 0 0 PATRICK J MCQUILLAN DIR. OF DEVELOPMENT 118302 0 6500 0 0 0 2757 0 25667 0 153226 0 0 0 X 14 5421231 STOCK EXCHANGE/FMV 0 1 0 FORM 990, PART I, LINE 6 VOLUNTEER GOVERNING BOARD OF TRUSTEES PLUS VOLUNTEER COMMITTEE CHAIRS AND MEMBERS FOR SPECIAL EVENTS. FORM 990, PART VI, SECTION A, LINE 4 EXISTING ARTICLE IV - MEMBERS, SECTION 2. TRUSTEES. THE GOVERNANCE COMMITTEE SHALL NOMINATE CANDIDATES FOR THE OFFICE OF TRUSTEE. THOSE PERSONS WHO SHALL RECEIVE A MAJORITY VOTE OF THE BOARD OF TRUSTEES, A QUORUM BEING PRESENT, SHALL BE DEEMED ELECTED TO THE OFFICE OF TRUSTEE. WAS AMENDED TO ALSO INCLUDE THE FOLLOWING: THE PRESIDENT AND CEO OF SARASOTA MEMORIAL HEALTHCARE SYSTEM ("SMHCS") SHALL AUTOMATICALLY SERVE AS A VOTING TRUSTEE IN AN EX-OFFICIO CAPACITY. FORM 990, PART VI, SECTION B, LINE 11B EACH MEMBER OF THE BOARD OF TRUSTEES RECEIVES AN ELECTRONIC COPY OF THE ENTIRE 990 PRIOR TO FILING. FORM 990, PART VI, SECTION B, LINE 12C TRUSTEES, OFFICERS, EMPLOYEES AND MEMBERS OF ANY COMMITTEE WITH GOVERNING BOARD DELEGATED POWERS ARE COVERED BY THE POLICY AND ARE REQUIRED TO DISCLOSE THE EXISTENCE OF ANY FINANCIAL INTEREST WHICH MAY BE A CONFLICT OF INTEREST. A PERSON HAS A FINANCIAL INTEREST IF THE PERSON IS 1) AN OFFICER OR DIRECTOR OR EMPLOYEE OF AN ORGANIZATION WHICH IS APPLYING FOR OR RECEIVING A GRANT FROM THE FOUNDATION, 2) HAS AN OWNERSHIP OR INVESTMENT INTEREST OF GREATER THAN 5% IN ANY ENTITY WITH WHICH THE FOUNDATION HAS A TRANSACTION OR ARRANGEMENT, AND/OR 3) HAS A COMPENSATION ARRANGEMENT WITH THE FOUNDATION OR WITH ANY ENTITY OR INDIVIDUAL WITH WHICH THE FOUNDATION HAS A TRANSACTION OR ARRANGEMENT. COMPENSATION INCLUDES DIRECT AND INDIRECT REMUNERATION AS WELL AS GIFTS OR FAVORS REASONABLY CONSIDERED NOT INSUBSTANTIAL. THE INTERESTED PERSON IS GIVEN THE OPPORTUNITY TO DISCLOSE ALL MATERIAL FACTS TO THE TRUSTEES OR MEMBERS OF COMMITTEES CONSIDERING THE PROPOSED TRANSACTION OR ARRANGEMENT. A CONFLICT MAY BE DECLARED BY THE INTERESTED PERSON WITHOUT FURTHER ACTION, OR THE BOARD OR COMMITTEE MAY MAKE A DETERMINATION AFTER DISCLOSURE OF THE FINANCIAL INTEREST AND ALL MATERIAL FACTS. AFTER ANY DISCUSSION WITH THE INTERESTED PERSON, HE OR SHE SHALL LEAVE THE MEETING WHILE THE BOARD OR COMMITTEE DISCUSSES THE MATTER AND DETERMINE BY MAJORITY VOTE OF THE DISINTERESTED TRUSTEES OR COMMITTEE MEMBERS WHETHER A CONFLICT OF INTEREST EXISTS. IF A CONFLICT OF INTEREST IS FOUND TO EXIST, 1) THE BOARD OR COMMITTEE MAY APPOINT A DISINTERESTED PERSON OR COMMITTEE TO INVESTIGATE THE PROPOSED TRANSACTION WHICH INVOLVES A CONFLICT OF INTEREST, OR 2) THE BOARD OR COMMITTEE SHALL DETERMINE, BY MAJORITY VOTE, WHETHER THE TRANSACTION OR ARRANGEMENT IS IN THE FOUNDATION'S BEST INTEREST AND WHETHER TO PROCEED OR REJECT THE PROPOSAL. DURING THE DISCUSSION AND VOTE ON THE MATTER, THE INTERESTED PERSON WITH THE CONFLICT OF INTEREST SHALL NOT BE PRESENT. A VOTING MEMBER OF THE BOARD OF TRUSTEES OR OF ANY COMMITTEE WHO RECEIVED COMPENSATION DIRECTLY OR INDIRECTLY FROM THE FOUNDATION FOR SERVICES IS PRECLUDED FROM VOTING ON MATTERS PERTAINING TO THAT MEMBER'S COMPENSATION. IF THE BOARD OR COMMITTEE HAS REASONABLE CAUSE TO BELIEVE A MEMBER HAS FAILED TO DISCLOSE ACTUAL OR POSSIBLE CONFLICTS OF INTEREST, IT SHALL INFORM THE MEMBER AND AFFORD THE MEMBER AN OPPORTUNITY TO EXPLAIN THE ALLEGED FAILURE TO DISCLOSE. IF, AFTER HEARING THE MEMBER'S RESPONSE, THE BOARD OR COMMITTEE DETERMINES THAT THE MEMBER HAS FAILED TO DISCLOSE AS REQUIRED, IT SHALL TAKE APPROPRIATE CORRECTIVE ACTION. FORM 990, PART VI, SECTION B, LINE 15 THE COMPENSATION GUIDELINES ASSIST THE BOARD IN FULFILLING ITS RESPONSIBILITIES TO ACHIEVE THE FOUNDATION'S GOALS AND OBJECTIVES ACCORDING TO THE MISSION STATEMENT AND UPDATED BY THE STRATEGIC PLAN. THE ALLOCATION OF FINANCIAL AND HUMAN RESOURCES IS DESIGNED FOR THAT PARTICULAR PURPOSE AND THE BOARD RECOGNIZES THAT ACHIEVING THE MISSION REQUIRES ATTRACTING, RETAINING AND REWARDING SKILLED EXECUTIVES AND PERSONNEL WITHIN APPROPRIATE GUIDELINES ESTABLISHED BY GOOD GOVERNANCE PRACTICES. THE BOARD WISHES TO ESTABLISH COMPENSATION INCENTIVES THAT ARE COMPETITIVE IN THE MARKET PLACE AND BALANCED BETWEEN SHORT AND LONG-TERM PERFORMANCE DESIGNED TO MOTIVATE AND REWARD MISSION DIRECTED PERFORMANCE THE GOVERNANCE AND COMPENSATION COMMITTEE IS RESPONSIBLE FOR THE HEALTH AND FUNCTIONING OF THE BOARD OF TRUSTEES AND ENSURES THAT AN EFFECTIVE PERFORMANCE EVALUATION AND COMPENSATION PROCESS IS IN PLACE. DUTIES INCLUDE 1) FACILITATE THE ANNUAL PERFORMANCE REVIEW OF THE FOUNDATION PRESIDENT. INVITE PERFORMANCE FEEDBACK FROM ALL BOARD MEMBERS. AT AN ANNUAL EXECUTIVE SESSION OF THE BOARD, SHARE FEEDBACK, AND REACH CONSENSUS ON OVERALL PERFORMANCE RATING. 2) ANNUALLY RECOMMEND COMPENSATION AND BONUS LEVELS TO THE BOARD FOR THE FOUNDATION PRESIDENT. 3) REVIEW PERFORMANCE EVALUATIONS AND COMPENSATION FOR KEY STAFF MEMBERS. COMPENSATION FOR SENIOR EXECUTIVES MUST MEET STANDARDS UNDER IRS INTERMEDIATE SANCTIONS REGULATIONS AS THEY APPLY TO DISQUALIFIED PERSONS. THIS INCLUDES THE PRESIDENT AND OTHER KEY EMPLOYEES. COMPENSATION, FOR PURPOSES OF INTERMEDIATE SANCTIONS, INCLUDES ALL REMUNERATION. ANNUALLY THE FULL BOARD MEETS TO ESTABLISH THE MISSION-ORIENTED STRATEGY FOR THE COMING YEAR AND APPROVE THE ANNUAL PLAN FOR ALLOCATING FINANCIAL RESOURCES. THE STRATEGY WILL BECOME THE BASIS FOR ESTABLISHING PERFORMANCE GOALS FOR THE ORGANIZATION AS A WHOLE AND FOR INDIVIDUALS. THE GOVERNANCE AND COMPENSATION COMMITTEE ESTABLISHES MISSION-ORIENTED PERFORMANCE GOALS AND OVERALL COMPENSATION PHILOSOPHY FOR THE COMING YEAR BASED ON THE STRATEGY AND FINANCIAL RESOURCES. THE BOARD HAS DETERMINED THAT MERIT INCREASES AND BONUSES ARE BASED ON PERFORMANCE IN ACHIEVING THE FOUNDATION'S OBJECTIVES TO FULFILL THE MISSION AND STRATEGIC PLAN. THE BOARD HAS ALSO SET A GOAL THAT ALL EMPLOYEES, INCLUDING EXECUTIVES, RECEIVE MARKET COMPETITIVE COMPENSATION INCLUDING BENEFITS. THE PRESIDENT OR DESIGNEE EVALUATES EACH EMPLOYEE DURING THE ANNUAL PLANNING PROCESS AND COMPENSATION IS ADJUSTED BASED ON PERFORMANCE, THE BOARD APPROVED ANNUAL OPERATING PLAN, AND THE MARKET BASED SALARY POINT FOR THAT POSITION. THE PRESIDENT HAS PARAMETERS FOR TOTAL COMPENSATION PAID TO EMPLOYEES BASED ON THE BOARD APPROVED ANNUAL OPERATING PLAN AND IS REQUIRED TO INFORM THE EXECUTIVE COMMITTEE WHENEVER COMPENSATION WILL EXCEED THOSE PARAMETERS. THE GOVERNANCE AND COMPENSATION COMMITTEE EVALUATES THE PRESIDENT ANNUALLY AT THE END OF THE EACH FISCAL YEAR AND DETERMINES THE TOTAL COMPENSATION BASED ON PERFORMANCE, ACHIEVEMENT OF GOALS AND COMPARABLE COMPENSATION FOR LIKE POSITIONS IN SIMILAR ORGANIZATIONS. TO MEET THE REASONABLE STANDARD OF THE IRS, THE FOUNDATION HAS IDENTIFIED A GROUP OF ORGANIZATIONS MOST COMPARABLE TO THE FOUNDATION IN TERMS OF REVENUES AND THEIR SOURCES, SCOPE OF ACTIVITIES, MISSION, QUALITY OF STAFF THEY RECRUIT AND PUBLIC PROMINENCE. THE TOTAL COMPENSATION FOR THE CEO'S OF THESE ORGANIZATIONS IS USED TO DETERMINE REASONABLENESS. FORM 990, PART VI, SECTION C, LINE 19 THE ORGANIZATION MAKES ITS GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS AVAILABLE TO THE PUBLIC UPON REQUEST. FORM 990, PART XI, LINE 9: CHANGE IN VALUE OF SPLIT INTEREST AGREEMENT 179,434. RETURN OF GRANT FUNDS 384,854. UNREALIZED GAIN ON PERPETUAL TRUSTS 25,314. NET INVESTMENT (INCOME) LOSS REPORTED ON SCHEDULE K-1'S RECEIVED -23,082. ADJUSTMENT BAD DEBT RESERVE -1,942,415. FORM 990, PART XII, LINE 2C AUDIT REVIEW PROCESS THE AUDIT REVIEW PROCESS HAS NOT CHANGED FROM THE PRIOR YEAR.