2018-10-01T08:55:11-06:00 2017-12-31 460257538 KETEL THORSTENSON LLP PO BOX 3140 RAPID CITY SD 577093140 990 2017-01-01 363608635 BLACK HILLS AREA COMMUNITY FOUNDATION BLAC 6057180112 825 ST JOSEPH ST 3RD FLOOR RAPID CITY SD 57709 ELIZABETH HAMBURG EXECUTIVE DIRECTOR 6057180112 2018-10-01 true JOHN B WALKER CPA P00179985 6053425630 2018-10-01 96.2.194.12 2018-10-01 09:55:11 CD P D350269B6C1E361BFE3BE5786FA149191CA99CAB D350269B6C1E361BFE3BE5786FA149191CA99CAB 2017 2018-06-14 16:35:46Z ELIZABETH HAMBURG 12221314 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 12 2 0 3816560 3224198 0 -245695 762792 8661 9193 3579526 3996183 2246756 1643710 0 186150 186911 0 16127 601643 678634 3034549 2509255 544977 1486928 15488980 22453381 5096992 10443861 10391988 12009520 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 2354199 1643710 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. 41464 THE FOUNDATION POOLS INVESTMENTS FOR VARIOUS COMMUNITY CHARITIES, IN ORDER TO INVEST THEIR FUNDS AT FAVORABLE INVESTMENT RATES WITH RELIABLE INVESTMENT VEHICLES. 2395663 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 9 0 12 true 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 825 ST JOSEPH ST 3RD FLOOR RAPID CITY SD 57709 JAMES OLSON CHAIR 1.00 X X 0 0 0 ROBERT PAULSON PAST CHAIR 1.00 X X 0 0 0 ERIKA KROETCH CAMPBELL VICE CHAIR 1.00 X X 0 0 0 ROB MUDGE SECRETARY 1.00 X X 0 0 0 FRANCES BECKER TREASURER 1.00 X X 0 0 0 STEVE FLANERY DIRECTOR 1.00 X 0 0 0 LIA GREEN DIRECTOR 1.00 X 0 0 0 MARNIE HERRMANN 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 MARGARET PRAHL DIRECTOR 1.00 X 0 0 0 ED STARR DIRECTOR 1.00 X 0 0 0 JACQUE FULLER DIRECTOR 1.00 X 0 0 0 HAVEN STUCK DIRECTOR 1.00 X 0 0 0 RICHARD WAHLSTROM DIRECTOR 1.00 X 0 0 0 DR ROGER WILSON DIRECTOR 1.00 X 0 0 0 ELIZABETH HAMBURG EXECUTIVE DI 40.00 X 92189 0 4609 92189 4609 false false false 3224198 397759 3224198 320492 320492 8578637 88794 8225131 353506 88794 442300 442300 CASH VALUE LIFE INSURANCE 8971 8971 MISCELLANEOUS REV 222 222 9193 3996183 222 771763 1627710 1627710 16000 16000 92189 59923 27657 4609 55910 36341 16773 2796 8839 5745 2652 442 5360 3484 1608 268 24613 15998 7384 1231 60756 33416 27340 41464 41464 4640 3480 1160 16684 10844 4171 1669 14377 9345 3594 1438 2846 1849 712 285 12574 8173 3144 1257 6349 4127 1587 635 3371 2191 843 337 SEE EXPLAN SCH O 515573 515573 2509255 2395663 97465 16127 3178802 2792794 23878 406202 370000 2900 5116 33810 15582 24577 18228 11805390 19212289 47231 54954 15488980 22453381 10501 32095 4000000 5086491 6411766 5096992 10443861 X 9569729 11370388 564246 381119 258013 258013 10391988 12009520 15488980 22453381 1486928 1455879 -1325275 X false true X true false X 4990459 2991255 3259652 3683259 3224198 18148823 4990459 2991255 3259652 3683259 3224198 18148823 3683507 14465316 318626 316851 233409 253621 320492 1442999 15917 8190 8369 8643 8971 50090 19641912 222 0.73650 0.72190 X PART II, LINE 10 OTHER INCOME 41,119 26 1066726 748396 4707789 true true false true X 6025167 395388 1028481 279241 7169795 6506082 361601 444527 1287043 6025167 6779329 230728 -175069 328906 6506082 6509802 199338 362641 292452 6779329 5603150 186749 878600 158697 6509802 0.96000 0.03000 0.01000 false false 1143 83 1060 32667 15499 17168 18228 COMMON STOCK 7395773 F MUTUAL FUNDS 6570884 F TREASURY BONDS 3003844 F DEBT INSTRUMENTS 1779694 F CERTIFICATE OF DEPOSIT 250427 F CLOSED END FUNDS 211667 F 19212289 X 4028146 1455879 3256 -714931 744204 3283942 712241 712241 3996183 2410614 3256 159395 162651 2247963 261292 261292 2509255 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 QUALIFIES 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 IF THE TAXING AUTHORITIES DETERMINE THE FOUNDATION HAS ENGAGED IN UNRELATED BUSINESS ACTIVITIES. THERE WERE NOT UNRELATED BUSINESS ACTIVITIES FOR THE YEARS ENDED DECEMBER 31, 2017 AND 2016. AS OF DECEMBER 31, 2017, THE FOUNDATION HAS NO UNCERTAIN TAX POSITIONS THAT QUALIFY FOR EITHER RECOGNITION OR DISCLOSURE IN THE FINANCIAL STATEMENTS. MANAGEMENT CONTINUALLY EVALUATES EXPIRING STATUTES OF LIMITATIONS, AUDITS, PROPOSED SETTLEMENTS, CHANGES IN 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 AUTHORITIES, IF ANY, ARE INCLUDED IN INTEREST EXPENSE. SCHEDULE D, PAGE 4, PART XI, LINE 2D FUND MANAGEMENT FEES 159,395 INVESTMENT INCOME - SPECIFIC ORGANIZATIONS -874,326 SCHEDULE D, PAGE 4, PART XI, LINE 4B CONTRIBUTIONS DESIGNATED FOR SPECIFIC ORGANIZATIONS 650,783 INTERFUND CLASSIFICATIONS 61,458 SCHEDULE D, PAGE 4, PART XII, LINE 2D FUND MANAGEMENT FEES 159,395 SCHEDULE D, PAGE 4, PART XII, LINE 4B EXPENSES INCURRED FOR SPECIFIC ORGANIZATIONS 261,292 true AMERICAN RED CROSS 1221 N MAPLE AVENUE RAPID CITY SD 57701 530196605 3 32000 COMMUNITY WELFARE BIG BROTHERS BIG SISTERS 425 KANSAS CITY ST RAPID CITY SD 57701 460282706 3 53121 COMMUNITY WELFARE BLACK HILLS RAPTOR CENTER PO BOX 9713 RAPID CITY SD 57709 274423598 3 12500 COMMUNITY WELFARE BOYS AND GIRLS CLUB OF THE BLACK HI PO BOX 677 HILL CITY SD 57745 460332124 3 89975 COMMUNITY WELFARE CANYON LAKE UNITED METHODIST CHURCH 3500 CANYON LAKE DRIVE RAPID CITY SD 57702 466003848 3 7500 COMMUNITY WELFARE CASA 7TH CIRCUIT 2650 JACKSON BOULEVARD RAPID CITY SD 57702 460399483 3 17500 COMMUNITY WELFARE CHILDRENS HOME FOUNDATION 801 NORTH SYCAMORE SIOUX FALLS SD 57101 460366277 3 96850 COMMUNITY WELFARE CORNERSTONE RESCUE MISSION PO BOX 2188 RAPID CITY SD 57709 363296431 3 19662 COMMUNITY WELFARE FEEDING SOUTH DAKOTA 3511 N 1ST AVE SIOUX FALLS SD 57104 363293534 3 50400 COMMUNITY WELFARE FISHER HOUSE FOUNDATION 299 PARK AVENUE SUITE NEW YORK NY 10171 113158401 3 20000 COMMUNITY WELFARE FRIENDS OF SDPB PO BOX 5000 VERMILLION SD 57069 237310698 3 13507 COMMUNITY WELFARE FRONT PORCH COALITION 915 MOUNTAIN VIEW RD RAPID CITY SD 57069 770591124 3 8829 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 34422 COMMUNITY WELFARE JOHN WITHERSPOON COLLEGE 4021 RANGE RD RAPID CITY SD 57702 205892134 3 25000 COMMUNITY WELFARE LOVE INC PO BOX 3255 RAPID CITY SD 57702 460460539 3 6000 COMMUNITY WELFARE MAKE A WISH SOUTH DAKOTA 1400 W 17TH STREET SIOUX FALLS SD 57104 460375953 3 10000 COMMUNITY WELFARE NATIONAL MS UPPER MIDWEST CHAPTER 200 12 AVENUE MINNEAPOLIS MN 55415 410790658 3 25000 COMMUNITY WELFARE OPERATION SMILE 6435 TIDEWATER DRIVE NORFOLK VA 23509 541460147 3 20000 COMMUNITY WELFARE PATHWAYS SPIRITUAL SANCTUARY INC 21793 JUSO RANCH RD LEAD SD 57754 452790387 3 20000 COMMUNITY WELFARE PHILIP HEALTH SERVICES PO BOX 790 PHILIP SD 57567 460361016 3 9300 COMMUNITY WELFARE RAPID CITY ARTS COUNCIL 713 SEVENTH STREET RAPID CITY SD 57701 237176252 3 27617 COMMUNITY WELFARE RAPID CITY CHRISTAIN SCHOOL 23757 AREAN DRIVE RAPID CITY SD 57702 460363353 3 40000 EDUCATION RAPID CITY FIRE DEPARTMENT 10 MAIN STREET RAPID CITY SD 57701 466000380 3 23000 COMMUNITY WELFARE RAPID CITY LIBRARY FOUNDATION PO BOX 1015 RAPID CITY SD 57709 460442680 3 22846 EDUCATION RIMROCK EVANGELICAL FREE CHURCH 12200 W HIGHWAY 44 RAPID CITY SD 57702 410721672 3 8000 COMMUNITY WELFARE RONALD MCDONALD HOUSE CHARITIES PO BOX 96066 WASHINGTON DC 20090 460371152 3 10000 COMMUNITY WELFARE SALVATION ARMY 405 N CHERRY AVE RAPID CITY SD 57701 362167910 3 30200 COMMUNITY WELFARE 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 36800 COMMUNITY WELFARE SPECIAL OLYMPICS OF SOUTH DAKOTA 800 EI-90 LANE SIOUX FALLS SD 57104 460359776 3 10000 COMMUNITY WELFARE ST JUDE CHILDRENS RESEARCH HOSPITAL 501 ST JUDE PLACE MEMPHIS TN 38105 620646012 3 10000 COMMUNITY WELFARE STURGIS ECONOMIC DEVELOPMENT PO BOX 218 STURGIS SD 57785 460361483 6 10000 COMMUNITY WELFARE THE HOPE CENTER 615 KANSAS CITY STREET RAPID CITY SD 57701 464167577 3 17500 COMMUNITY WELFARE WAVI 527 QUINCY STREET RAPID CITY SD 57701 460355127 3 45750 COMMUNITY WELFARE WELLFULLY 3402 COTTONWOOD STREET RAPID CITY SD 57702 460414463 3 47500 COMMUNITY WELFARE WOMEN ESCAPING A VIOLENT ENV PO BOX 729 CUSTER SD 57730 460409941 3 6226 COMMUNITY WELFARE WORLD VISION INC MS 353 PO BOX 9716 FEDERAL WAY WA 98063 951922279 3 25000 COMMUNITY WELFARE WOUNDED WARRIOR PROJECT 4899 BELFORT ROAD STE 300 JACKSONVILLE FL 32256 202370934 3 10000 CUMMUNITY WELFARE YFS FOUNDATION PO BOX 2813 RAPID CITY SD 57709 202142760 3 6803 COMMUNITY WELFARE YMCA OF RAPID CITY 815 KANSAS CITY ST RAPID CITY SD 57701 460227218 3 12050 COMMUNITY WELFARE YOUNG LIFE 318 MT RUSHMORE ROAD RAPID CITY SD 57701 830385934 3 32000 COMMUNITY WELFARE YOUTH AND FAMILY SERVICES PO BOX 2813 RAPID CITY SD 577092813 466017085 3 25803 COMMUNITY WELFARE 7TH CIRCUIT COURT APPOINTED SPECIAL ADVOCATE PROGRAM 2650 JACKSON BLVD RAPID CITY SD 57702 460402202 GOV 10000 COMMUNITY WELFARE ALPHA CENTER 3405 S KIWANIS AVE SIOUX FALLS SD 57105 363347022 3 40000 COMMUNITY WELFARE BEHAVIOR MANGAGEMENT SYSTEMS 350 ELK ST RAPID CITY SD 57701 460251185 3 40500 COMMUNITY WELFARE BETHEL ASSEMBLY OF GOD 1202 N MAPLE RAPID CITY SD 57701 460368864 3 15000 COMMUNITY WELFARE BLACK HILLS WORKS FOUNDATION 3650 RANGE ROAD RAPID CITY SD 57702 460363653 3 27500 COMMUNITY WELFARE BUILDING SCHOOLS IN AFRICA 14900 E CENTER AVE UNIT I AURORA CO 80012 812208935 3 6000 COMMUNITY WELFARE CAMPUS CRUSADE FOR CHRIST 100 LAKE HART DR ORLANDO FL 32832 956006176 3 15000 COMMUNTY WELFARE CHILDRENS MUSEUM OF THE BLACK HILLS PO BOX 9187 RAPID CITY SD 57709 812821185 3 5500 COMMUNITY WELFARE CUSTER SENIOR CENTER 538 MT RUSHMORE RD CUSTER SD 57730 460367008 3 6500 COMMUNITY WELFARE FIELD OF HOPE 8805 CHAMBERY BLVD JOHNSTON IA 50131 273822296 3 12150 COMMUNITY WELFARE HUMANE SOCIETY OF CUSTER AREA 707 LINCOLN ST CUSTER SD 57730 460431701 3 6000 COMMUNITY WELFARE LIFEWAYS INC 1010 9TH STREET SUITE 2 RAPID CITY SD 57701 680529279 3 7500 COMMUNITY WELFARE MAIN STREET SQUARE INC 512 MAIN STREET SUITE 980 RAPID CITY SD 57701 273983146 3 10000 COMMUNITY WELFARE MAMMOTH SITE OF HOT SPRINGS 1800 HWY 18 TRUCK RT HOT SPRINGS SD 57747 460337824 3 17600 COMMUNITY WELFARE MCCOY MINISTRIES 3814 4TH AVE NE JAMESTOWN ND 58401 363946669 3 10000 COMMUNITY WELFARE ONE SPIRIT PO BOX 3209 RAPID CITY SD 57709 263592983 3 6900 COMMUNITY WELFARE REGIONAL HEALTH FOUNDATION PO BOX 6000 RAPID CITY SD 57709 201487506 3 15000 COMMUNITY WELFARE RUSHMORE MUSIC FESTIVAL 1267 RANGE VIEW CIRCLE RAPID CITY SD 57702 473451302 3 10558 COMMUNITY WELFARE SD HALL OF FAME 1480 S MAIN ST CHAMBERLAIN SD 57325 460324210 3 10000 EDUCATION STORYBOOK ISLAND INC PO BOX 9196 RAPID CITY SD 57709 460260003 3 6000 COMMUNITY WELFARE STURGIS PUBLIC LIBRARY 1040 HARLEY-DAVIDSON WAY STE 1 STURGIS SD 57785 466000476 GOV 5200 EDUCATION THE VOICE OF THE MARTYRS INC 1815 SE BISON RD BARTLESVILLE OK 74006 731395057 3 25000 COMMUNITY WELFARE WDTI FOUNDATION 800 MICKELSON DR RAPID CITY SD 57703 460340050 3 5800 EDUCATION WESTHILLS VILLAGE FOUNDATION 255 TEXAS STREET RAPID CITY SD 57701 363634283 3 20000 COMMUNITY WELFARE WEST RIVER TRANSIT AUTORITY 2015 TUMBLE WEED TRL SPEARFISH SD 57783 911848280 3 6800 COMMUNITY WELFARE WINGS AS EAGLES MINISTRIES PO BOX 207 CAPUTA SD 57725 841403727 3 7975 COMMUNITY WELFARE SCHOLARSHIPS 12 16000 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 31 397759 FAIRM MARKET VALUE false true false FORM 990 PAGE 10, PART IX, STATEMENT OF FUNCTIONAL EXPENSES, LINE 24A; THE FOUNDATION DISBURSES MONIES THROUGHOUT THE YEAR IN ACCORDANCE WITH ITS DONOR FUND RESTRICTIONS FOR VARIOUS CHARITABLE PURPOSES. THESE MONIES TAKE THE FORM OF SALARY REIMBURSEMENTS, SUPPLIES, EQUIPMENT, TRAINING, TRAVEL, ETC. FOR PURPOSES OF REPORTING IN THIS TAX RETURN, THESE PROGRAM EXPENDITURE AMOUNTS ARE AGGREGATED AND INCLUDED ON LINE 24A PF PART IX, AND TOTALED 515,573FOR THE YEAR. 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 159,395 INVESTMENT INCOME - SPECIFIC ORGANIZATIONS -874,326 CONTRIBUTIONS DESIGNATED FOR SPECIFIC ORGANIZATIONS -650,783 INTERFUND CLASSIFICATIONS -61,458 FUND MANAGEMENT FEES -159,395 EXPENSES INCURRED FOR SPECIFIC ORGANIZATIONS 261,292 TOTAL -1,325,275