2020-11-11T16:54:48-06:00 2019-12-31 460257538 KETEL THORSTENSON LLP PO BOX 3140 RAPID CITY SD 577093140 990 2019-01-01 363608635 BLACK HILLS AREA COMMUNITY FOUNDATION BLAC 6057180112 803 ST JOSEPH STREET RAPID CITY SD 57701 ELIZABETH HAMBURG EXECUTIVE DIRECTOR 6057180112 2020-11-11 true TRACI HANSON CPA P02055725 6053425630 2020-11-11 208.117.102.114 2020-11-11 16:54:48 CS P EF83B611134DFA6C18A86FC4526081C409E91AF7 9E9AA121738291CE3BF2A609D9A6975C75990352 2019 2021-01-29 14:40:06Z ELIZABETH HAMBURG 17526493 false X WWW.BHACF.ORG X 1987 SD EDUCATIONAL, SCIENTIFIC, LITERARY AND CHARITABLE SUPPORT IN BROAD AREAS INCLUDING DEVELOPMENT OF BOTH QUALITY AND QUANTITY OF ECONOMIC GROWTH IN THE RAPID CITY AND BLACK HILLS AREA 17 17 16 17 0 6867735 8806618 0 828898 1024755 9251 189573 7705884 10020946 1807748 1838685 0 545402 695971 0 17693 366804 4838486 2719954 7373142 4985930 2647804 25739170 30050433 9939848 11056610 15799322 18993823 EDUCATIONAL, SCIENTIFIC, LITERARY AND CHARITABLE SUPPORT IN BROAD AREAS INCLUDING DEVELOPMENT OF BOTH QUALITY AND QUANTITY OF ECONOMIC GROWTH IN THE RAPID CITY AND BLACK HILLS AREA false false 7204551 1838685 THE FOUNDATION PROVIDES EDUCATIONAL SCHOLARSHIPS AND DONATIONS TO VARIOUS COMMUNITY ORGANIZATIONS IN ORDER TO IMPROVE THE QUALITY OF LIFE OF THE PEOPLE IN THE BLACK HILLS REGION. 66386 THE FOUNDATION POOLS INVESTMENTS FOR VARIOUS COMMUNITY CHARITIES, IN ORDER TO INVEST THEIR FUNDS AT FAVORABLE INVESTMENT RATES WITH RELIABLE INVESTMENT VEHICLES. 7270937 true true false false false true false false true true true false true false false true true false false false false false false false false false false true true false false false false false false false false false true false false false false false false false false true 7 0 16 true false false false false false false false false false false false false false false false X 17 17 false false false false false false false true true false false true true true true true true true true false SD X ELIZABETH HAMBURG 6057180112 803 ST JOSEPH STREET RAPID CITY SD 57701 ELIZABETH HAMBURG EXECUTIVE DI 40.00 X 113092 0 5655 FRANCES BECKER CHAIR 1.00 X X 0 0 0 PATRICK BURCHILL DIRECTOR 1.00 X 0 0 0 ERIKA KROETCH CAMPBELL EX OFFICIO 1.00 X X 0 0 0 STEVE FLANERY DIRECTOR 1.00 X 0 0 0 JACQUE FULLER DIRECTOR 1.00 X 0 0 0 STEVE HELMERS DIRECTOR 1.00 X 0 0 0 MARNIE HERRMANN TREASURER 1.00 X X 0 0 0 EVERETT HOYT DIRECTOR 1.00 X 0 0 0 KAY S JORGENSEN DIRECTOR 1.00 X 0 0 0 URLA MARCUS DIRECTOR 1.00 X 0 0 0 SANDRA MCFARLAND DIRECTOR 1.00 X 0 0 0 ROB MUDGE DIRECTOR 1.00 X 0 0 0 MARGARET PRAHL SECRETARY 1.00 X X 0 0 0 ED STARR DIRECTOR 1.00 X 0 0 0 HAVEN STUCK DIRECTOR 1.00 X 0 0 0 MAEGEN WALLUM DIRECTOR 1.00 X 0 0 0 DR ROGER WILSON VICE CHAIR 1.00 X X 0 0 0 113092 5655 1 false false false 8806618 799389 8806618 505559 505559 404387 226472 177915 177915 177915 7706354 91917 7279075 427279 91917 519196 519196 CASH VALUE LIFE INSURANCE 11154 11154 MISCELLANEOUS REV 504 504 11658 10020946 504 1213824 1813074 1813074 25611 25611 118747 76843 26190 15714 506004 493843 12161 14392 12965 1427 7798 7798 49030 46661 2369 199992 199992 64987 55518 9469 66386 66386 149478 149478 25865 25065 800 17838 11436 6402 27491 27491 37654 37654 29806 29806 5935 5935 8587 4367 4220 28441 25320 3121 TRANSFER OF PROPERTY 4117759 4117759 SUPPLIES & SPEC EVENTS 47481 27149 18353 1979 MISCELLANEOUS EXPENSE 10786 10786 7373142 7270937 84512 17693 5055685 5826524 10647 323668 295882 6386 8537 235815 30279 2012117 205536 18278080 23629277 63234 74030 25739170 30050433 18389 174486 4000000 2857628 5921459 8024496 9939848 11056610 X 15167743 18225140 631579 768683 15799322 18993823 25739170 30050433 X 2647804 2649735 -2103038 X false true X true false X 3259652 3683259 3224198 6867735 8806618 25841462 3259652 3683259 3224198 6867735 8806618 25841462 9925402 15916060 233409 253621 320492 421497 909946 2138965 8369 8643 8971 9215 11154 46352 28026779 762 0.56790 0.56850 X PART II, LINE 10 OTHER INCOME 35,198 RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 31 2012815 374534 7170913 true true false true X 6969303 1723423 1513487 343567 9862646 7169795 588842 -453608 355726 6969303 6025167 395388 1028481 279241 7169795 6506082 361601 444527 1287043 6025167 6779329 230728 -175069 328906 6506082 0.96660 0.02620 0.00720 false false 1143 235 908 77258 30044 47214 157414 157414 205536 COMMON STOCK 8972238 F MUTUAL FUNDS 7195114 F DEBT INSTRUMENTS 4352598 F TREASURY BONDS 2964792 F CERTIFICATE OF DEPOSIT 144535 F 23629277 X 10608343 2649735 24225 -1100213 1573747 9034596 986350 986350 10020946 7413842 24225 445004 469229 6944613 428529 428529 7373142 SCHEDULE D, PAGE 2, PART IV, LINE 2B THE FOUNDATION ACTS AS AN AGENT FOR DONORS BY RECEIVING ASSETS UNDER AGREEMENTS IN WHICH THE DONOR HAS NAMED ITSELF AS THE BENEFICIARY. FOR FINANCIAL STATEMENT PURPOSES, THE FOUNDATION HAS RECOGNIZED A LIABILITY TO THE DONOR. FOR INCOME TAX REPORTING THE FOUNDATION RECORDS CONTRIBUTIONS RECEIVED. THE DONORS INTEND TO ENDOW SUCH FUNDS WITH THE FOUNDATION, AND EXPECT THAT CERTAIN PRINCIPAL AND INVESTMENT GAIN OR LOSS WILL BE RETURNED. SCHEDULE D, PAGE 3, PART X THE FOUNDATION IS A NOT-FOR-PROFIT ORGANIZATION EXEMPT FROM INCOME TAXES UNDER SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE. THE FOUNDATION IS NOT CONSIDERED A PRIVATE FOUNDATION WITHIN THE MEANING OF SECTION 509(A)(1) AND QUALIFES FOR DEDUCTIBLE CONTRIBUTIONS UNDER SECTION 170(B)(1)(A)(VI). THE FOUNDATION IS NOT LIABLE FOR INCOME TAXES IF IT OPERATES WITHIN THE CONFINES OF ITS EXEMPT STATUS. HOWEVER, THE FOUNDATION MAY BE RESPONSIBLE FOR TAXES ON UNRELATED BUSINESS ACTIVITIES. IN THE EVENT OF AN EXAMINATION OF THE INCOME TAX RETURNS BY TAXING AUTHORITIES, THE TAX LIABILITY OF THE FOUNDATION COULD BE CHANGED IF AN ADJUSTMENT IN THE TAX-EXEMPT PURPOSE IS DETERMINED OR THE TAXING AUTHORITIES DETERMINE THE FOUNDATION HAS ENGAGED IN UNRELATED BUSINESS ACTIVITES. THERE WERE NO UNREALTED BUSINESS ACTIVITES FOR THE YEAR ENDED DECEMBER 31, 2019. AS OF DECEMBER 31, 2019, THE FOUNDATION HAD NO UNCERTAIN TAX POSITIONS THAT QUALIFY FOR EITHER RECOGNITION OR DISCLOSURE IN THE FINANCIAL STATEMENTS. MANAGEMENT CONTINUALLY EVALUATES EXPIRING STATUTES OF LIMITATION, AUDITS, PROPOSED SETTLEMENTS, CHANGES IN THE TAX LAW AND NEW AUTHORITATIVE RULINGS. THE FOUNDATION BELIEVES THEIR ESTIMATES ARE APPROPRIATE BASED ON CURRENT FACTS AND CIRCUMSTANCES. INTEREST AND PENALTIES ASSESSED BY INCOME TAXING AUTORITIES, IF ANY, ARE INCLUDED IN INTEREST EXPENSE. SCHEDULE D, PAGE 4, PART XI, LINE 2D FUND MANAGEMENT FEES 218,532 INVESTMENT INCOME - SPECIFIC ORGANIZATIONS -1,318,745 SCHEDULE D, PAGE 4, PART XI, LINE 4B CONTRIBUTIONS DESIGNATED FOR SPECIFIC ORGANIZATIONS 782,178 INTERFUND CLASSIFICATIONS 364,258 INVESTMENT FEES 66,386 RENT EXPENSE -226,472 SCHEDULE D, PAGE 4, PART XII, LINE 2D FUND MANAGEMENT FEES 218,532 RENT EXPENSE 226,472 SCHEDULE D, PAGE 4, PART XII, LINE 4B EXPENSES INCURRED FOR SPECIFIC ORGANIZATIONS 362,143 INVESTMENT EXPENSE 66,386 true CASA 7TH CIRCUIT 2650 JACKSON BLVD RAPID CITY SD 57702 460399483 3 10000 COMMUNITY WELFARE AMERICAN RED CROSS 1221 N MAPLE AVENUE RAPID CITY SD 57701 530196605 3 30000 COMMUNITY WELFARE BEHAVIOR MANGAGEMENT SYSTEMS 350 ELK ST RAPID CITY SD 57701 460251185 3 20000 COMMUNITY WELFARE BETHANY CHRISTIAN SERVICES 508 COLUMBUS ST RAPID CITY SD 57701 381405282 3 17500 COMMUNITY WELFARE BH SOCCER FEDERATION INC PO BOX 273 RAPID CITY SD 57709 460363026 3 15000 COMMUNITY WELFARE BIG BROTHERS BIG SISTERS 425 KANSAS CITY ST RAPID CITY SD 57701 460282706 3 49055 COMMUNITY WELFARE BLACK HILLS AREA HABITAT FOR HUMANI 610 E OMAHA ST RAPID CITY SD 57701 460410933 3 10500 COMMUNITY WELFARE BLACK HILLS COMMUNITY THEATRE PO BOX 4007 RAPID CITY SD 57709 510172470 3 6600 COMMUNITY WELFARE BLACK HILLS RAPTOR CENTER PO BOX 9713 RAPID CITY SD 57709 274423598 3 17000 COMMUNITY WELFARE BLACK HILLS WORKS 3650 RANGE ROAD RAPID CITY SD 57702 460341382 3 52000 COMMUNITY WELFARE BLACK HILLS WORKS FOUNDATION 3650 RANGE ROAD RAPID CITY SD 57702 460363653 3 5700 COMMUNITY WELFARE BOYS AND GIRLS CLUB OF THE BLACK HI PO BOX 677 HILL CITY SD 57745 460332124 3 159956 COMMUNITY WELFARE CALVARY LUTHERAN CHURCH 5311 SHERIDAN LAKE ROAD RAPID CITY SD 57702 460277588 3 17875 COMMUNITY WELFARE CANYON LAKE UNITED METHODIST CHURCH 3500 CANYON LAKE DRIVE RAPID CITY SD 57702 466003848 3 7000 COMMUNITY WELFARE CHALLENGE DAKOTA PO BOX 876 HOT SPRINGS SD 57747 834231960 3 9987 COMMUNITY WELFARE CHILDRENS HOME FOUNDATION PO BOX 1749 SIOUX FALLS SD 57101 460366277 3 88391 COMMUNITY WELFARE COMMUNITY HEALTH CENTER OF THE BH 350 PINE STREET RAPID CITY SD 57701 460418932 3 8000 COMMUNITY WELFARE DIVINE SHERPHERD LUTHERAN CHURCH 7308 WEDGEWOOD DR BLACK HAWK SD 57718 460396665 3 5200 COMMUNITY WELFARE DRESS FOR SUCCESS BH SD 2200 N MAPLE AVE STE 560 RAPID CITY SD 57701 823461285 3 5300 COMMUNITY WELFARE FAIRBURN FIRE PROTECTION DISTRICT PO BOX 87 FAIRBURN SD 57738 460375480 3 10000 COMMUNITY WELFARE FIELD OF HOPE 8805 CHAMBERY BLVD JOHNSTON IA 50131 273822296 3 5725 COMMUNITY WELFARE FISHER HOUSE FOUNDATION 12300 TWINBROOK PKWY SUITE 410 ROCKVILLE MD 20852 113158401 3 10000 COMMUNITY WELFARE FRIENDS OF SDPB PO BOX 5000 VERMILLION SD 57069 237310698 3 12007 COMMUNITY WELFARE HAAKON SCHOOL DISTRICT NO 27-1 PO BOX 730 PHILIP SD 57567 460309945 GOV 9300 COMMUNITY WELFARE HUMANE SOCIETY OF THE BLACK HILLS 1820 E ST PATRICK ST RAPID CITY SD 57701 460396967 3 22133 COMMUNITY WELFARE IZAAK WALTON LEAGUE RC CHAPTER PO BOX 969 RAPID CITY SD 57709 466014969 3 84039 COMMUNITY WELFARE JOHN WITHERSPOON COLLEGE 4021 RANGE RD RAPID CITY SD 57702 205892134 3 7500 COMMUNITY WELFARE LITTLE LEAGUE BASEBALL PO BOX 9072 RAPID CITY SD 57709 237116566 3 6000 COMMUNITY WELFARE LOVE INC PO BOX 3255 RAPID CITY SD 57702 460460539 3 28400 COMMUNITY WELFARE MAKE A WISH SOUTH DAKOTA 1400 W 17TH STREET SIOUX FALLS SD 57104 460375953 3 10000 COMMUNITY WELFARE MAMMOTH SITE OF HOT SPRINGS 1800 HWY 18 TRUCK RT HOT SPRINGS SD 57747 460337824 3 236000 COMMUNITY WELFARE NAU FOUNDATION 5301 MT RUSHMORE RD RAPID CITY SD 57709 237010355 3 15548 EDUCATION NORTHERN HILLS FAMILY REC CENTER 845 MINERS AVE LEAD SD 57754 460356630 3 7500 COMMUNITY WELFARE OLD FT MEADE MUSEUM PO BOX 164 STURGIS SD 57741 460314448 3 50000 EDUCATION ONE SPIRIT PO BOX 3209 RAPID CITY SD 57709 263592983 3 10000 COMMUNITY WELFARE OPERATION SMILE 3641 FACULTY BLVD VIRGINIA BEACH VA 23453 541460147 3 20000 COMMUNITY WELFARE PATHWAYS SPIRITUAL SANCTUARY INC 21793 JUSO RANCH RD LEAD SD 57754 452790387 3 10000 COMMUNITY WELFARE PHILIP HEALTH SERVICES PO BOX 790 PHILIP SD 57567 460361016 3 19300 COMMUNITY WELFARE RAPID CITY AREA SCHOOLS 625 9TH STREET STE 620 RAPID CITY SD 57701 466002688 GOV 10319 EDUCATION RAPID CITY ARTS COUNCIL 713 7TH STREET RAPID CITY SD 57701 237176252 3 23936 EDUCATION RAPID CITY CHRISTIAN EDUCATION ASSN 23757 ARENA DR RAPID CITY SD 57702 460363353 3 10000 EDUCATION RAPID CITY CLUB FOR BOYS INC 320 N 4TH ST RAPID CITY SD 57709 460277778 3 6750 COMMUNITY WELFARE RAPID CITY LIBRARY FOUNDATION PO BOX 1015 RAPID CITY SD 57709 460442680 3 29470 EDUCATION RED CLOUD INDIAN SCHOOL 100 MISSION DR PINE RIDGE SD 57770 460275071 GOV 9993 EDUCATION RIMROCK EVANGELICAL FREE CHURCH 12200 W HIGHWAY 44 RAPID CITY SD 57702 410721672 3 7000 COMMUNITY WELFARE RONALD MCDONALD HOUSE CHARITIES PO BOX 96066 WASHINGTON DC 20090 460371152 3 10000 COMMUNITY WELFARE SALVATION ARMY PO BOX 3269 RAPID CITY SD 57709 222406433 3 30900 COMMUNITY WELFARE SD HALL OF FAME 1480 S MAIN ST CHAMBERLAIN SD 57325 460324210 3 20000 EDUCATION SD PARKS AND WILDLIFE FOUNDATION 523 EAST CAPITOL PIERRE SD 57501 460387968 3 60000 EDUCATION SDSM&T FOUNDATION 306 EAST SAINT JOSEPH STREET RAPID CITY SD 57701 466011771 3 12600 COMMUNITY WELFARE SOUTH DAKOTA SPECIAL OLYMPICS PO BOX 1283 SIOUX FALLS SD 57101 460359776 3 10500 COMMUNITY WELFARE ST JUDE CHILDRENS RESEARCH HOSPITAL 501 ST JUDE PLACE MEMPHIS TN 38105 620646012 3 10000 COMMUNITY WELFARE STURGIS AREA ARTS COUNCIL PO BOX 901 STURGIS SD 57785 460356634 3 7000 EDUCATION STURGIS PUBLIC LIBRARY 1040 HARLEY-DAVIDSON WAY STE 1 STURGIS SD 57785 466000476 GOV 109000 EDUCATION THE HOPE CENTER 615 KANSAS CITY STREET RAPID CITY SD 57701 464167577 3 20000 COMMUNITY WELFARE VOUNTEERS OF AMERICA NORTHERN ROCKI 111 NEW YORK ST RAPID CITY SD 57701 830280532 3 16138 COMMUNITY WELFARE WAVI 527 QUINCY STREET RAPID CITY SD 57701 460355127 3 21050 COMMUNITY WELFARE WDTI FOUNDATION 800 MICKELSON DR RAPID CITY SD 57703 460340050 3 6250 EDUCATION WESTERN SD SENIOR SERVICES 1621 SHERIDAN LAKE ROAD STE C RAPID CITY SD 57702 460362991 3 5500 COMMUNITY WELFARE WORLD VISION INC 4325 UPTON AVE MINNEAPOLIS MN 55410 951922279 3 25000 COMMUNITY WELFARE YMCA OF RAPID CITY 815 KANSAS CITY ST RAPID CITY SD 57701 460227218 3 5100 COMMUNITY WELFARE YOUNG LIFE 318 MT RUSHMORE ROAD RAPID CITY SD 57701 830385934 3 19500 COMMUNITY WELFARE YOUTH AND FAMILY SERVICES PO BOX 2813 RAPID CITY SD 577092813 466017085 3 34151 COMMUNITY WELFARE AVIVARA 7202 33RD AVE NW SEATTLE WA 98117 262130534 3 10000 COMMUNITY WELFARE 172 SCHOLARSHIPS 19 25611 SCHEDULE I, PAGE 1, PART I, LINE 2 TO ENSURE THAT FUNDS ARE USED TO MEET THE COMMUNITY'S CHARITABLE NEEDS: 1) RECOMMENDATIONS OF GRANTEES BY DONOR ADVISORS OR EXPENDITURES BY FISCAL SPONSORSHIP CONTACTS ARE REQUIRED IN WRITING. 2) RECOMMENDATIONS FOR DISTRIBUTIONS FROM DONOR ADVISED FUNDS ARE REVIEWED BY STAFF TO ASSURE COMPLIANCE WITH ALL REQUIREMENTS AND REGULATIONS. STAFF WILL VERIFY THE STATUS OF THE RECOMMENDED RECIPIENT USING A REALTIME DATABASE SUCH AS GUIDESTAR. A DATED COPY OF THE DONOR ADVISOR'S WRITTEN RECOMMENDATION AND SUPPORTING DOCUMENTATION REGARDING THE ORGANIZATION'S STATUS WILL BE PLACED IN THE FUND'S PERMANENT FILE. 3) AS NEEDED, RECOMMENDATIONS FOR GRANT DISTRIBUTIONS WILL BE BROUGHT TO THE EXECUTIVE COMMITTEE OR BOARD OF DIRECTORS FOR APPROVAL. 4) STAFF SHALL MAINTAIN ON FILE ANNUAL REPORTS, NEWSLETTERS, AND IRS LETTERS DETERMINING TAX EXEMPT STATUS ABOUT NONPROFIT ORGANIZATIONS WHOSE MISSIONS ARE CONSISTENT WITH THE GOALS OF THE FOUNDATION. 5) GRANTEES RECEIVING COMPETITIVE GRANT AWARDS ARE NOTIFIED IN WRITING THE PURPOSE OF THE GRANT FUNDS AND TIMEFRAME WHEN THE MONEY IS DISTRIBUTED. A GRANT REPORT AT THE CONCLUSION OF THE GRANT PERIOD IS REQUIRED TO VERIFY COMPLIANCE WITH THE RESTRICTIONS AS COMMUNICATED. THE FOUNDATION MAINTAINS AND OPERATES UNDER A STRICT WRITTEN POLICY FOR AWARDING SCHOLARSHIPS, FELLOWSHIPS, AND OTHER GRANTS TO INDIVIDUALS. SUCH POLICY PROVIDES FOR COMPLETE CONTROL OF THE NOMINATION AND AWARD PROCESS BY THE FOUNDATION. SUCH PROCESS REQUIRES THAT DOCUMENTATION BE MAINTAINED FOR THREE YEARS FOLLOWING THE DATE OF THE AWARD. X 12 799389 FAIR MARKET VALUE false true false FORM 990, PAGE 6, PART VI, LINE 11B ORGANIZATION'S PROCEDURES USED TO REVIEW FORM 990 THE BOARD REVIEWS THE 990 PRIOR TO FILING. FORM 990, PAGE 6, PART VI, LINE 12C PERSONS COVERED UNDER THE POLICY INCLUDE ANY DIRECTOR, PRINCIPAL OFFICER, OR MEMBER OF A COMMITTEE WITH GOVERNING BOARD DELEGATED POWERS. ALL INTERESTED PERSONS HAVE A DUTY TO DISCLOSE ANY POTENTIAL CONFLICTS OF INTEREST. THE REMAINING BOARD OR COMMITTEE MEMBERS THEN DECIDE IF A CONFLICT OF INTEREST EXISTS. THE GOVERNING BOARD OR COMMITTEE SHALL DETERMINE BY MAJORITY VOTE OF THE DISINTERESTED DIRECTORS WHETHER THE TRANSACTION IS IN THE ORGANIZATION'S BEST INTEREST AND WHETHER IT IS FAIR AND REASONABLE. IF THE GOVERNING BOARD HAS REASONABLE CAUSE TO BELIEVE SOMEONE HAS FAILED TO DISCLOSE AN ACTUAL OR POSSIBLE CONFLICT OF INTEREST, SAID PERSON HAS OPPORTUNITY TO EXPLAIN AND APPROPRIATE DISCIPLINARY/CORRECTIVE ACTION IS TAKEN. THE ABOVE SHALL BE DOCUMENTED IN THE BOARD MINUTES. ANNUALLY ALL PERSONS COVERED BY THE POLICY SHALL SIGN A STATEMENT WHICH AFFIRMS THEY HAVE RECEIVED, READ, AND AGREE WITH THE POLICY AND HAVE DISCLOSED ALL KNOWN ACTUAL AND POSSIBLE CONFLICTS. TO ENSURE THE ORGANIZATION OPERATES IN A MANNER CONSISTENT WITH CHARITABLE PURPOSES AND DOES NOT ENGAGE IN ACTIVITIES THAT COULD JEOPARDIZE TAX-EXEMPT STATUS, PERIODIC REVIEWS ARE CONDUCTED. FORM 990, PAGE 6, PART VI, LINE 15A THE FOUNDATION EMPLOYS A CEO. NO OTHER OFFICERS OR KEY EMPLOYEES EXIST. ANNUALLY, THE CEO PROVIDES A SUMMARY MEMO TO THE CHAIRMAN REVIEWING PROGRESS TOWARD GOALS. THE CHAIRMAN REVIEWS, CONSULTS WITH THE EXECUTIVE COMMITTEE ACTING AS A PERSONNEL COMMITTEE, AND PROVIDES BOTH VERBAL AND WRITTEN FEEDBACK. AFTER REVIEWING COMPARABLE SALARY DATA AS RECEIVED FROM PEER ORGANIZATIONS, THE PERSONNEL COMMITTEE MAY THEN RECOMMEND A RAISE, WHICH IS SHARED WITH THE BOARD OF DIRECTORS. THE RECOMMENDATION IS RECORDED IN THE BOARD MINUTES. FORM 990, PAGE 6, PART VI, LINE 15B SAME PERSONS AS 15A. FORM 990, PAGE 6, PART VI, LINE 19 GOVERNING DOCUMENTS ARE MADE AVAILABLE TO THE PUBLIC UPON REQUEST, AS STATED IN THE FOUNDATION'S ANNUAL REPORT THAT IS POSTED ON THE FOUNDATION'S WEBSITE. FORM 990, PART XI, LINE 9 FUND MANAGEMENT FEES 218,532 INVESTMENT INCOME - SPECIFIC ORGANIZATIONS -1,318,745 CONTRIBUTIONS DESIGNATED FOR SPECIFIC ORGANIZATIONS -782,178 INTERFUND CLASSIFICATIONS -364,258 INVESTMENT FEES -66,386 RENT EXPENSE 226,472 FUND MANAGEMENT FEES -218,532 RENT EXPENSE -226,472 EXPENSES INCURRED FOR SPECIFIC ORGANIZATIONS 362,143 INVESTMENT EXPENSE 66,386 TOTAL -2,103,038