2013-12-05T12:04:47-06:00 2013-06-30 591753337 KERKERING BARBERIO & CO PO BOX 49348 SARASOTA FL 342306348 990 2012-07-01 591618413 SARASOTA FAMILY YMCA INC SARA 9419512916 ONE SOUTH SCHOOL AVENUE NO 301 SARASOTA FL 34237 STEVE BOURNE 9419512916 2013-11-22 1 REBECCA U STONER P00585910 9413654617 2012 2015-11-30 17:44:51Z KURT STRINGFELLOW ONE SOUTH SCHOOL AVENUE NO 301 SARASOTA FL 34237 43939716 0 X WWW.THESARASOTAY.ORG X 1945 FL THE SARASOTA FAMILY YMCA IS A CHARITABLE ORGANIZATION PROVIDING A RICH AND VARIED COMPENDIUM OF PROGRAMS AND SERVICES TO A DIVERSE POPULATION. AS AN ASSOCIATION OF ALL AGES, ETHNIC GROUPS AND RELIGIOUS AFFILIATIONS, WE ARE UNITED IN PUTTING JUDEO-CHRISTIAN PRINCIPALS INTO PRACTICE THROUGH PROGRAMS THAT ENRICH THE QUALITY OF SPIRITUAL, MENTAL, PHYSICAL AND SOCIAL LIFE FOR CHILDREN, FAMILIES AND OUR COMMUNITY. THE ASSOCIATION CHALLENGES PEOPLE TO LIVE BY THE FOUR CORE VALUES OF CARING, HONESTY, RESPECT AND RESPONSIBILITY. THE MISSION OF THE YMCA IS "WE BUILD STRONG KIDS, STRONG FAMILIES, STRONG COMMUNITIES." 18 18 869 700 -21841 -31873 29919549 34255646 9279959 9384420 9537 12156 39413 -88016 39248458 43564206 684669 646497 0 0 13044833 12678880 0 0 36008 26631390 26741335 40360892 40066712 -1112434 3497494 30463587 25556234 11469281 7771376 18994306 17784858 X "WE BUILD STRONG KIDS, STRONG FAMILIES AND STRONG COMMUNITIES". THIS IS ACHIEVED THROUGH OUR THREE PILLARS OF COMMUNITY; FOR YOUTH DEVELOPMENT, FOR HEALTHY LIVING, FOR SOCIAL RESPONSIBILITY. WE PROMOTE AND SERVE A DIVERSE AGE, RELIGIOUS AND ETHNIC POPULATION, CHALLENGING PEOPLE TO LIVE BY OUR FOUR CORE VALUES OF CARING, HONESTY, RESPECT AND RESPONSIBILITY. 0 0 24807487 CHILD WELFARE/FOSTER CARE: THE SARASOTA FAMILY YMCA PIONEERED THE CURRENT FOSTER CARE DELIVERY SYSTEM IN FLORIDA THAT HAS BEEN ADOPTED THROUGH OUT THE STATE. COLLABORATING WITH STATE AND COMMUNITY PARTNERS THE Y TOOK CARE OF 2,302 CHILDREN IN MANATEE, SARASOTA AND DE SOTO COUNTIES. THE COMMUNITY BASED CARE PROJECT IS KNOWN AS THE SAFE CHILDREN COALITION. THE CONTINUUM OF SERVICES PROVIDED INCLUDE: DIVERSION TO PREVENT CHILDREN ENTERING THE WELFARE SYSTEM, EARLY INTERVENTION, CHILD/FAMILY ASSESSMENT, CASE PLANNING AND MANAGEMENT, COORDINATION OF SERVICES, FAMILY PRESERVATION SERVICES, CHILD PLACEMENT IN FOSTER HOMES/RESIDENTIAL HOMES OR PSYCHIATRIC CARE, ADOPTION SERVICES, FAMILY REUNIFICATION SERVICES AND TRANSITIONAL LIVING PROGRAMS TO ASSIST CHILDREN ON THEIR ROAD TO INDEPENDENCE. 10226547 551497 9384420 HEALTH ENHANCEMENT AND EARLY CHILDHOOD DEVELOPMENT: PROMOTING THE DEVELOPMENT OF A HEALTHY MIND, BODY AND SPIRIT, THE SARASOTA FAMILY YMCA CONNECTED WITH OVER 50,000 PEOPLE IN 4 BRANCH LOCATIONS. FACILITIES PROVIDE A LARGE RANGE OF FITNESS AND SOCIAL ACTIVITIES TO APPEAL TO ALL AGE GROUPS. THE VARIETY OF PROGRAMS ALL FOCUS ON EXERCISE, GOOD NUTRITION AND SOCIAL INTERACTION THAT ADVANCE INDIVIDUAL AND GROUP WELL BEING. YOUTH PROGRAMS SUPPORT HEALTHY CHARACTER DEVELOPMENT AND THE BUILDING OF SELF ESTEEM. FINANCIAL BARRIERS TO MEMBERSHIP ARE MITIGATED THROUGH THE FINANCIAL ASSISTANCE PROGRAM WHICH TOTALED $364,939 IN FISCAL YEAR 2013. EARLY CHILDHOOD DEVELOPMENT IS ACCOMPLISHED AT THE 4 BRANCH LOCATIONS AND 7 SCHOOL SITES. ACTIVITIES INCLUDE MATH, READING, ART AND EXERCISE AND CHARACTER DEVELOPMENT IS EMBODIED THROUGH THE CORE VALUES OF CARING, HONESTY, RESPECT AND RESPONSIBILITY. A COMBINATION OF CHILD CARE, YOUTH SPORTS, GYMNASTICS AQUATICS AND CAMP BENEFITED OVER 7,500 CHILDREN. FINANCIAL BARRIERS TO PROGRAM PARTICIPATION ARE MITIGATED THROUGH THE FINANCIAL ASSISTANCE PROGRAM THAT TOTALED $186,558 IN FISCAL YEAR 2012. 2683590 YOUTH AND FAMILY SERVICES: SERVICES ARE PROVIDED THROUGH ONE RESIDENTIAL AND TWO COMMUNITY BASED PROGRAMS AND AN ALTERNATIVE SCHOOL. THE YOUTH SHELTER PROVIDES TEMPORARY HOUSING AND CARE FOR CHILDREN BETWEEN THE AGES OF 10 AND 18 WHO HAVE RUN AWAY, ARE EXPERIENCING CONFLICT, OR HAVE BEEN LOCKED OUT OF THEIR HOMES. THE SHELTER PROVIDED A SAFE PLACE FOR 239 CHILDREN IN A FAMILY-LIKE ATMOSPHERE. THE CHILDREN RECEIVE DAILY TRANSPORTATION TO AND FROM SCHOOL AND AFTER SCHOOL TUTORING. EACH CHILD PARTICIPATES IN INDIVIDUAL, GROUP AND FAMILY COUNSELING AND A VARIETY OF EDUCATIONAL AND RECREATIONAL ACTIVITIES. FAMILY MANAGEMENT SERVICES PROVIDED FREE COUNSELING SERVICES TO 313 YOUTH (AGES 10-17) AND THEIR FAMILIES IN THE AREAS OF ANGER MANAGEMENT, PEER RELATIONS, SELF ESTEEM, SCHOOL AND HOME BEHAVIORS. THE SCHOOLHOUSE LINK PROGRAM IS A PARTNERSHIP BETWEEN THE SARASOTA FAMILY YMCA AND THE SARASOTA COUNTY SCHOOL BOARD AND HELPED 898 IDENTIFIED HOMELESS STUDENTS IN THE COUNTY. THE PROGRAM'S GOAL IS TO ENSURE THAT STUDENTS IN TRANSITION ARE ABLE TO ENROLL, ATTEND AND SUCCEED IN SCHOOL. SCHOOLHOUSE LINK SUPPORTS EACH STUDENT BY HELPING CREATE EDUCATIONAL STABILITY AND BY REMOVING ANY BARRIERS LIMITING THEIR SUCCESS. 267 STUDENTS PARTICIPATED IN THE YMCA TRIAD ALTERNATIVE PROGRAM THAT IS A COOPERATIVE COMMUNITY PROJECT DEVELOPED TO HELP TEENS IMPROVE THEIR CHANCES FOR FUTURE SUCCESS. IT IS A BEHAVIOR MODIFICATION PROGRAM USING LOW STUDENT TO STAFF RATIOS, SELF-CONTAINED CLASSROOMS, MODIFIED CURRICULA, ADVENTURE-BASED LEARNING, AND A "WHOLE-STUDENT" APPROACH TO TEACHING. 665780 95000 EDUCATIONAL OUTREACH PROGRAMS(EOS):A CONTINUUM OF PROGRAMS DESIGNED TO ELEVATE THE QUALITY OF CHILD CARE (CENTER-BASED, FAITH-BASED, FAMILY CHILD CARE AND AFTERSCHOOL CARE), EDUCATION, AND FAMILY INVOLVEMENT FOR CHILDREN FROM KINDERGARDEN TO GRADE 12. HIPPY (HOME INSTRUCTION FOR PARENTS OF PRESCHOOL YOUNGSTERS) INFLUENCED 355 CHILDREN AND FAMILIES BY ASSISTING PARENTS IN BECOMING MORE INVOLVED WITH THE EDUCATION OF THEIR CHILDREN BETWEEN THE AGES OF AGES 3-5. OPERATION GRADUATION ASSISTED 87 SARASOTA LOW INCOME AND DISADVANTAGED STUDENTS TO ACHIEVE ACADEMICALLY AND TO SUCCESSFULLY COMPLETE ELEMENTARY, MIDDLE AND HIGH SCHOOL LEVELS. STUDENTS RECEIVE REMEDIAL AND ENRICHMENT INSTRUCTION IN ORDER TO MAINTAIN ACADEMIC STANDARDS. YMCA READS! HELPED STUDENTS TO CLOSE THE GAP IN STUDENTS' READING PERFORMANCE AND THE STATE OF FLORIDA'S READING PERFORMANCE EXPECTATIONS. THE PROGRAM IS LIMITED TO K THROUGH THIRD GRADERS SPECIFICALLY REFERRED BY THE PARTICIPATING SCHOOLS, AND THE PRIMARY FOCUS OF THE PROGRAMMING WILL BE ON IMPROVING STUDENTS' READING GRADE LEVEL EQUIVALENCY. THERE WERE 766 STUDENTS ENROLLED IN THE Y-ACHIEVERS PROGRAMS WHOSE MISSION IS TO EMPOWER AT RISK YOUTH TO MAKE AND ACHIEVE POSITIVE GOALS. THE PROGRAM ENCOURAGES CONTINUOUS GROWTH IN THE AREAS OF: 1. PERSONAL DEVELOPMENT 2. COLLEGE PREPARATION 3. COMMUNITY SERVICE AND LEADERSHIP 4. WORKFORCE READINESS 5. RECREATION. IN FISCAL YEAR 2012, $95,000 WAS AWARDED IN SCHOLARSHIPS TO GRADUATES OF THE ACHIEVERS PROGRAM FOR CONTINUING COLLEGE EDUCATION. 665780 95000 38383404 1 1 0 0 0 0 0 0 0 0 1 1 0 0 1 1 1 0 0 0 0 0 0 0 1 0 0 0 1 1 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 92 0 1 869 1 1 1 0 0 0 0 0 0 0 0 0 X 18 18 0 0 1 0 0 0 0 1 1 0 1 1 1 1 1 1 1 1 1 1 0 FL X STEVE BOURNE 9419512916 1 SOUTH SCHOOL AVENUE SARASOTA FL 34237 LYNN BONNETT 1.00 X 0 0 0 JIM BOS 1.00 X 0 0 0 GEORGE AUGUSTIN 1.00 X 0 0 0 JOHN ROSS 1.00 X 0 0 0 VERONICA BRADY 1.00 X 0 0 0 KATHY COFFEY 1.00 X 0 0 0 JANE GOODWIN 1.00 X 0 0 0 ROD HERSHBERGER 1.00 X 0 0 0 JOHN HOGAN 1.00 X 0 0 0 LARUE MERRILL 1.00 X 0 0 0 KEITH NADASKY 1.00 X 0 0 0 LOUIS ROBISON 1.00 X 0 0 0 JAMES SARTORI 1.00 X 0 0 0 VIC SCULLY 1.00 X 0 0 0 ANGELO SIFAKES 1.00 X 0 0 0 ED LANDIS 1.00 X X 0 0 0 FREDRIC JACOBS 1.00 X X 0 0 0 RICK MCDANIEL 1.00 X X 0 0 0 KURT STRINGFELLOW 40.00 X 27584 0 3496 STEVE BOURNE 40.00 X 105258 0 14452 JIM PURDY 40.00 X 146096 0 18792 EDWARD MCBRIDE 40.00 X 106396 0 14995 BONNIE GAUSPOHL 40.00 X 108258 0 15417 493592 0 67152 4 0 1 0 YOUTH AND FAMILY ALTERNATIVES - RA 7524 PALTHE RD NEW PORT RICHEY FL 34653 CASE MANAGEMENT SERVICES 2807425 FAMILY PRESERVATION SERVICES 121 N 2ND STREET FORT PIERCE FL 34950 CASE MANAGEMENT SERVICES 2238232 MANATEE GLENS PO BOX 9478 BRADENTON FL 34206 CASE MANAGEMENT SERVICES 1654261 MANATEE CHILDREN'S SERVICES 453 CORTEZ ROAD WEST BRADENTON FL 34207 OUT OF HOME CARE 553620 CAMELOT COMMUNITY CARE 239 301 BLVD EAST SUITE A BRADENTON FL 34208 RESIDENTIAL HOME CARE 414738 37 163296 19825 28328840 5743685 34255646 MEMBERSHIP DUES 713940 6126804 6126804 PROGRAM SERVICE FEES 713940 3257616 3257616 9384420 236 236 152554 136342 16212 16212 16212 11920 0 11920 11920 11920 106361 19825 136596 -30235 -30235 144370 102572 41798 41798 Y FOUNDATION 531390 10034 10034 Y ASSOCIATES (K-1) 531390 -34656 -31875 -2781 LOSS ON BOND MODIFICATION 900099 -91169 -91169 -115791 43564206 9384420 -21841 -54019 646497 646497 553862 140962 412900 9981461 9669408 286360 25693 555645 529423 24797 1425 721873 687806 32215 1852 866039 825169 38649 2221 6843 5259 1570 14 55539 42687 12742 110 322710 248029 74039 642 130445 93040 37405 1244292 1162024 82030 238 2705419 2363219 338920 3280 331524 321408 9583 533 128371 84260 44111 249447 189666 59781 1413816 1321207 92609 691580 669097 22483 CONTRACTED SERVICES 18748656 18748656 EQUIPMENT RENTAL AND MA 345708 306229 39479 BANK CHARGES 160459 139300 21159 DUES & LICENSES 159414 142946 16468 47112 47112 40066712 38383404 1647300 36008 54445 1858830 1820364 347596 404414 828326 831661 185019 179292 17494 16090 278312 425142 33956373 19181071 16342711 14775302 10470621 5948216 134678 1101308 30463587 25556234 1517727 1768022 491819 623753 6900000 3390313 185019 179292 2374716 1809996 11469281 7771376 X 17345892 16233589 1366304 1269159 282110 282110 18994306 17784858 30463587 25556234 X 3497494 -4706942 X X 0 1 X 1 1 1 X 29786237 28065534 28773321 29919549 34255646 150800287 29786237 28065534 28773321 29919549 34255646 150800287 150800287 36817 55665 56558 89168 152790 390998 225952 157968 26697 -10728 -31875 368014 18859 42817 33505 13233 -91169 17245 151576544 43359271 0.99490 0.99500 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 1122799 1122799 23324903 11006925 12317978 1761397 1233710 527687 7747274 6940436 806838 14775302 5948216 F 5948216 CAPITAL LEASE 337727 AGENCY FUNDS 96906 DEFERRED GOVERNMENT CONTRACTS 1252939 INTEREST RATE SWAP 122424 1809996 X 38590603 148495 -4570601 -4422106 43012709 551497 551497 43564206 39800051 148495 136342 284837 39515214 551498 551498 40066712 DESCRIPTION OF UNCERTAIN TAX POSITIONS UNDER FIN 48: PART X, LINE 2: UNDER THE INCOME TAXES TOPIC OF THE FASB ACCOUNTING STANDARDS CODIFICATION, THE YMCA 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 OF THE YMCA. PART XI, LINE 2D - OTHER ADJUSTMENTS: CHANGE IN BENEFICIAL INTEREST Y FOUNDATION -4,033,887. BOOK TO TAX DIFFERENCE ON INVESTMENTS IN PARTNERSHIP -454,046. RENTAL EXPENSE 136,342. CHANGE IN VALUE OF INTEREST RATE SWAP 85,094. LOSS ON ASSETS HELD FOR SALE -304,103. ROUNDING -1. PART XI, LINE 4B - OTHER ADJUSTMENTS: MEMBERSHIP DISCOUNTS NETTED AGAINST REVENUE PER BOOKS 364,939. PROGRAM DISCOUNTS NETTED AGAINST REVENUE PER BOOKS 186,558. PART XII, LINE 2D - OTHER ADJUSTMENTS: RENTAL EXPENSES 136,342. PART XII, LINE 4B - OTHER ADJUSTMENTS: MEMBERSHIP DISCOUNTS NETTED AGAINST REVENUE PER BOOKS 364,939. PROGRAM DISCOUNTS NETTED AGAINST REVENUE PER BOOKS 186,558. ROUNDING 1. RINGLING BRIDGE RUN 65337 11825 53512 55225 SIESTA KEY TRIATHLON 35255 8000 27255 29369 5 25594 25594 52002 126186 19825 106361 136596 136596 -30235 1 MEMBERSHIP ASSISTANCE 2256 364939 FMV FINANCIAL ASSISTANCE BASED ON THE FEDERAL POVERTY GUIDELINES IS PROVIDED TO INDIVIDUALS AND FAMILIES IN THE FORM OF MEMBERSHIP DISCOUNTS. PROGRAM ASSISTANCE 1372 186558 FMV FINANCIAL ASSISTANCE BASED ON THE FEDERAL POVERTY GUIDELINES IS PROVIDED TO INDIVIDUALS AND FAMILIES IN THE FORM OF DISCOUNTS ON PROGRAM PARTICIPATION. COLLEGE SCHOLARSHIPS 76 95000 PROCEDURE FOR MONITORING GRANTS IN THE U.S.: PART I, LINE 2: SCHEDULE I, PART I, LINE 2: FINANCIAL ASSISTANCE BASED ON THE FEDERAL POVERTY GUIDELINES IS PROVIDED TO INDIVIDUALS AND FAMILIES IN THE FORM OF A DISCOUNTED RATE FOR MEMBERSHIP OR PROGRAM FEES (EG AFTER SCHOOL). A FORMAL APPLICATION MUST BE MADE BY THE RECIPIENT AND THE AMOUNT OF ASSISTANCE IS BASED ON A SLIDING SCALE USING THE FEDERAL POVERTY GUIDELINES. IN ADDITION COLLEGE STUDENTS WHO GRADUATED FROM THE Y ACHIEVERS PROGRAM MAY QUALIFY FOR A COLLEGE SCHOLARSHIP. X X X 0 0 0 0 0 0 0 0 0 JIM PURDY 146096 0 0 0 0 0 11667 0 7125 0 164888 0 0 0 A SARASOTA COUNTY FLORIDA 596000848 NONEAVAIL 2013-04-16 3425000 INDUSTRIAL DEVELOPMENT REFUNDING BOND (SARASOTA FAMILY YMCA) SERIES 2011 0 0 0 A 3425000 1 0 1 1 A 0 0 0 0 0 0 1 A 0 0 0 1 1 1 BB&T 6.000000000000 0 0 0 0 1 A 1 SCHEDULE K PART IV, ARBITRAGE, LINE 2C DATE REBATE COMPUTATION PERFORMED ISSUER NAME: SARASOTA COUNTY, FLORIDA DATE THE REBATE COMPUTATION WAS PERFORMED: 04/16/2013 VOLUNTEERS FORM 990, PART I, LINE 6 VOLUNTEERS HELP CHILDREN TO IMPROVE THEIR READING SKILLS, TUTOR AND COUNSEL YOUTH, PARTICIPATE IN FUNDRAISING EVENTS, RUN SPORTING EVENTS, COACH YOUTH SPORTS, OBTAIN AND ORGANIZE CLOTHES/SCHOOL SUPPLIES/OTHER NEEDED ITEMS FOR NEEDY CHILDREN AND PARTICIPATE AS BOARD AND COMMITTEE MEMBERS. FORM 990, PART VI, SECTION A, LINE 4 ARTICLE V MANAGEMENT AND MEETINGS OF THE DIRECTORS SECTION 2. (C) ORIGINAL THERE SHALL BE NO LIMITATION ON THE NUMBER OF TERMS A MEMBER OF THE BOARD OF DIRECTORS CAN SERVE. NEW BEGINNING WITH THE ANNUAL MEETING OF DIRECTORS TO BE HELD IN JUNE, 2013, DIRECTORS MAY NOT SERVE FOR MORE THAN TWO (2) SUCCESSIVE TERMS OF THREE (3) YEARS. THEREAFTER, A DIRECTOR MUST HAVE AT LEAST A ONE (1) YEAR HIATUS BEFORE BEING ELIGIBLE TO SERVE AGAIN ON THE BOARD. THIS PROVISION MAY BE WAIVED AS TO ANY DIRECTOR BY A VOTE OF A MAJORITY OF THE BOARD OF DIRECTORS. SECTION 14 ADDED A)THE ADVISORY COMMITTEES SHALL INCLUDE AUDIT AND FINANCE COMMITTEES, A YOUTH AND FAMILY SERVICES COMMITTEE, A WELLNESS COMMITTEE AND A GOVERNANCE COMMITTEE. THE CHAIRMAN OF THE BOARD SHALL ANNUALLY APPOINT A CHAIR, AND IF POSSIBLE, A VICE CHAIR OF SUCH COMMITTEES. BEGINNING JUNE, 2013, COMMITTEE CHAIRS SHALL NOT SERVE FOR MORE THAN THREE (3) CONSECUTIVE ONE YEAR TERMS. THIS TERM LIMIT MAY BE WAIVED AS TO ANY COMMITTEE CHAIR BY A VOTE OF A MAJORITY OF THE BOARD OF DIRECTORS. B)ADVISORY COMMITTEES SHALL MEET MONTHLY OR AS OTHERWISE NEEDED. THE CHAIR OF EACH ADVISORY COMMITTEE SHALL REPORT ON THE ACTIVITIES OF ITS COMMITTEE AT EACH REGULAR MEETING OF THE BOARD OF DIRECTORS. SUCH REPORTS MAY INCLUDE RECOMMENDED BOARD ACTIONS. ARTICLE VI OFFICERS SECTION 1 (A) ORIGINAL THE BOARD MAY ELECT OR APPOINT A CHAIRMAN, CHAIRMAN ELECT, A SECRETARY AND A TREASURER, AND SUCH OTHER OFFICERS AS IT MAY DETERMINE, WHO SHALL HAVE SUCH DUTIES AND POWERS AS HEREINAFTER PROVIDED. NEW THE BOARD SHALL ELECT OR APPOINT A CHAIRMAN, A VICE CHAIRMAN, A SECRETARY AND A TREASURER, AND SUCH OTHER OFFICERS AS IT MAY DETERMINE, WHO SHALL HAVE SUCH DUTIES AND POWERS AS HEREINAFTER PROVIDED. SECTION 1 (B) ORIGINAL ALL OFFICERS SHALL BE ELECTED OR APPOINTED TO HOLD OFFICE AT THE ANNUAL MEETING OF THE BOARD. NEW ALL OFFICERS SHALL BE ELECTED OR APPOINTED TO HOLD OFFICE AT THE ANNUAL MEETING OF THE BOARD. THE SECRETARY AND TREASURER SHALL NOT SERVE FOR MORE THAN THREE (3) CONSECUTIVE ONE (1) YEAR TERMS. THIS TERM LIMIT MAY BE WAIVED AS TO ANY OFFICER BY A MAJORITY OF THE BOARD OF DIRECTORS. SECTION 3 ORIGINAL THE CHAIRMAN OF THE BOARD, IF ONE BE ELECTED, SHALL PRESIDE AT ALL MEETINGS OF THE BOARD AND HE/SHE SHALL HAVE AND PERFORM SUCH OTHER DUTIES AS FROM TIME TO TIME MAY BE ASSIGNED TO HIM BY THE BOARD OR THE EXECUTIVE COMMITTEE. EACH CHAIRMAN OF THE BOARD SHALL SERVE AN INITIAL TERM OF TWO (2) YEARS. THEREAFTER, THE CHAIRMAN OF THE BOARD MAY BE NOMINATED AND ELECTED BY THE BOARD OF DIRECTORS TO SERVE SUCCESSIVE NEW THE CHAIRMAN OF THE BOARD, AND IF NOT AVAILABLE, THE VICE CHAIRMAN, IF ONE BE ELECTED, SHALL PRESIDE AT ALL MEETINGS OF THE BOARD AND HE/SHE SHALL HAVE AND PERFORM SUCH OTHER DUTIES AS FROM TIME TO TIME MAY BE ASSIGNED TO HIM BY THE BOARD OR THE EXECUTIVE COMMITTEE. EACH CHAIRMAN OF THE BOARD SHALL SERVE AN INITIAL TERM OF TWO (2) YEARS. THEREAFTER, THE CHAIRMAN OF THE BOARD MAY BE NOMINATED AND ELECTED BY THE BOARD OF DIRECTORS TO SERVE SUCCESSIVE ONE (1) YEAR TERMS. THE CHAIRMAN OF THE BOARD SHALL NOT BE SUBJECT TO ANY TERM LIMITS. ARTICLE X ADVISORY BOARDS SECTION 5 ORIGINAL ADVISORY BOARD MEMBERS SHALL TAKE OFFICE AT THE BRANCH ADVISORY BOARD MEETING AFTER THEIR ELECTION, AND SHALL BE RETAINED UNTIL REMOVAL BY THE BOARD OF DIRECTORS OR UNTIL THEIR EARLIER RESIGNATION OR DEATH. NEW ADVISORY BOARD MEMBERS SHALL TAKE OFFICE AT THE BRANCH ADVISORY BOARD MEETING AFTER THEIR ELECTION, AND SHALL BE RETAINED UNTIL REMOVAL BY THE BOARD OF DIRECTORS OR UNTIL THEIR EARLIER RESIGNATION OR DEATH. ADVISORY BOARD MEMBERS SHALL BE SUBJECT TO THE SAME TERM LIMITS AS THE BOARD OF DIRECTORS AS PROVIDED IN ARTICLE V, SECTION 2. FORM 990, PART VI, SECTION B, LINE 11 THE FORM 990 IS PREPARED BY AN INDEPENDENT ACCOUNTING FIRM. IT IS REVIEWED BY THE ORGANIZATION'S MANAGEMENT. A PAPER OR ELECTRONIC COPY OF THE RETURN IS PROVIDED TO ALL BOARD MEMBERS. THE FORM 990 IS PRESENTED AT A REGULAR BOARD MEETING WHERE THE FLOOR IS OPEN FOR QUESTIONS AND DISCUSSION. FORM 990, PART VI, SECTION B, LINE 12C TRANSACTIONS WITH DIRECTORS, OFFICERS AND EMPLOYEES OF THE ORGANIZATION ARE DISCOURAGED. SHOULD A TRANSACTION INVOLVING A DIRECTOR, OFFICER OR EMPLOYEE BE DEEMED NECESSARY, THE CONFLICT OF INTEREST MUST BE SUBMITTED TO THE AUDIT COMMITTEE FOR APPROVAL. ANNUALLY, CONFLICT OF INTEREST STATEMENTS ARE PROVIDED AND SIGNED BY ALL DIRECTORS, OFFICERS AND EMPLOYEES WHO ARE EXEMPT OR IN KEY POSITIONS AND ALL TRANSACTIONS MUST BE AUTHORIZED. FORM 990, PART VI, SECTION B, LINE 15 THE CEO'S COMPENSATION IS REVIEWED ANNUALLY BY THE EXECUTIVE COMMITTEE OF THE BOARD OF DIRECTORS USING COMPARABILITY DATA. THIS DATA MAY BE PROVIDED BY AN INDEPENDENT CONSULTANT OF THE ASSOCIATON'S HR DEPARTMENT. THE REVIEW PROCESS IS DOCUMENTED AND ALL FINDINGS AND RECOMMENDATIONS ARE PRESENTED TO THE FULL BOARD OF DIRECTORS IN EXECUTIVE SESSION. FORM 990, PART VI, SECTION C, LINE 19 THE ORGANIZATION MAKES IT'S GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND AUDITED FINANCIAL STATEMENTS AVAILABLE TO THE PUBLIC UPON REQUEST. CHANGES IN NET ASSETS OR FUND BALANCES: FORM 990, PART XI, LINE 9: CHANGE IN BENEFICIAL INTEREST IN NET ASSETS YMCA FOUNDATION OF SARASOTA, IN -4,033,887. Y ASSOCIATES BOOK TO TAX DIFFERENCE -454,046. CHANGE IN VALUE OF INTEREST RATE SWAP 85,094. CHANGE IN VALUE OF ASSETS HELD FOR SALE -304,103. AUDIT OVERSIGHT FORM 990, PART XI, LINE 2C THE ORGANIZATION HAS AN AUDIT COMMITTEE WHICH IS RESPONSIBLE FOR AUDIT OVERSIGHT AND SELECTION OF AN INDEPENDENT ACCOUNTANT.