2013-09-17T11:57:05-05:00 2012-12-31 WEBB LORAH & COMPANY PL CPAS 1107 WEST MARION AVE UNIT 115 PUNTA GORDA FL 33950 990 2012-01-01 650455319 CHARLOTTE COMMUNITY FOUNDATION INC CHAR 9416370077 403 SULLIVAN STREET ROOM/SUITE 114 PUNTA GORDA FL 33950 RON OLSEN 9416370077 2013-09-16 true GEOFFREY L LORAH 9416378884 2013-09-17 2012 2016-02-24 21:20:13Z RONALD L OLSEN 334 W OLYMPIA AVE PUNTA GORDA FL 33950 3854558 false X WWW.CHARLOTTECOMMUNITYFOUNDATION.ORG X 1993 FL THE CHARLOTTE COMMUNITY FOUNDATION EXISTS TO ENHANCE THE QUALITY OF LIFE IN CHARLOTTE COUNTY. OUR MISSION IS TO ADVANCE THE COMMON GOOD BY NURTURING A GIVING COMMUNITY AND CONNECTING PEOPLE WHO CARE WITH CAUSES THAT MATTER. 11 10 5 1 0 2014559 166363 0 194793 249186 37639 51270 2246991 466819 200576 1120497 0 196441 255940 0 24016 235377 234958 632394 1611395 1614597 -1144576 5973782 4833742 8261 15427 5965521 4818315 X THE CHARLOTTE COMMUNITY FOUNDATION EXISTS TO ENHANCE THE QUALITY OF LIFE IN CHARLOTTE COUNTY. OUR MISSION IS TO ADVANCE THE COMMON GOOD BY NURTURING A GIVING COMMUNITY AND CONNECTING PEOPLE WHO CARE WITH CAUSES THAT MATTER. false false 1102497 1102497 AS A FACILITATOR OF PHILANTHROPY, THE CHARLOTTE COMMUNITY FOUNDATION (CCF) IS SHIFTING ITS APPROACH IN GRANT MAKING. THE AIM IS TO INVEST IN ORGANIZ- ATIONS THAT DEMONSTRATE EFFECTIVENESS AND PROJECTS THAT MAKE THE GREATEST POSITIVE IMPACT POSSIBLE, SO TRANSFORMATIVE INVESTMENTS WILL CHANGE THE WAY BUSINESS IS USUALLY CONDUCTED AND WILL RESULT IN MORE SIGNIFICANT, MEASUR- ABLE IMPROVEMENTS IN THE AREA WITH HIGH ATTENTION TO COLLABORATIVE APPROACHES AND MEASURABLE RESULTS. THE CCF WANTS TO ENCOURAGE AND SUPPORT ORGANIZATIONS TO WORK WITH IT TO ADVANCE PROACTIVE BOLD IDEAS. THE CCF ADMINISTERS DONOR ADVISED, ENDOWED AND OTHER FUNDS TO PROVIDE SUPPORT FOR GENERAL CHARITABLE PURPOSES. IN 2012, THE CCF PROVIDED ASSISTANCE TO 45 DIFFERENT ORGANIZATIONS THROUGH DONOR REQUESTS WITH BOARD APPROVAL. 52271 THE NONPROFIT NETWORK IS A CATALYST FOR CHANGE, HELPING NONPROFIT ORGANIZA- TIONS TO ACCESS AND USE THE RIGHT SET OF TOOLS AND RESOURCES FOR THE JOB AT HAND BY PROVIDING EDUCATION, TRAINING, RESOURCES, CONSULTATION,AND CONVEN- ING NONPROFITS TO WORK TOGETHER FOR THE BEST POSSIBLE SOLUTIONS. IN THE PAST 2 YEARS, OVER 1000 ATTENDEES HAVE PARTICIPATED IN TRAININGS AND PRO- GRAMS PRESENTED BY MANY NATIONALLLY KNOWN SPEAKERS. THE NONPROFIT NETWORK HELPS OUR AREA NONPROFIT ORGANIZATIONS: IDENTIFY UNMET NEEDS AND SUGGEST THE BEST SOLUTIONS; INCREASE KNOWLEDGE OF NONPROFIT LEADERS TO IMPROVE SKILLS WITH HANDS ON TRAINING; AND CREATE A MORE CONNECTED COMMUNITY. THE NONPROFIT NETWORK IS THE ONLY RESOURCE IN THE COMMUNITY WITH THIS PURPOSE, AND WE WOULD NOT GROW AND SUCCEED WITHOUT OUR DONORS' SUPPORT. 18000 18000 THE CCF SINCE ITS INCEPTION IN 1995 HAS FOCUSED ON THE REASON FOR ITS EX- ISTENCE--TO IMPROVE THE QUALITY OF LIFE FOR RESIDENTS IN CHARLOTTE COUNTY. WHAT BETTER WAY TO HELP IMPROVE THE COMMUNITY'S QUALITY OF LIFE THAN TO SUPPORT RESIDENTS IN THEIR DESIRES TO IMPROVE THEMSELVES--TO FULFILL THEIR DREAMS--THROUGH HIGHER EDUCATION. THE FOUNDATION HAS ENDOWED SCHOLARSHIPS AT EDISON STATE COLLEGE AND FLORIDA GULF COAST UNIVERSITY SPECIFICALLY FOR CHARLOTTE COUNTY REIDENTS. ADDITIONAL SCHOLARSHIP FUNDS ARE HOUSED AT THE FOUNDATION INCLUDING THE LEO WOTITZKY SCHOLARSHIP, DENNIS MUNHOLAND MEMORIAL SCHOLARSHIP (DENTISTRY), DAVID GERDEL SCHOLARSHIP (ENGINEERING), NORA PENTON BEATTY MEMORIAL SCHOLARSHIP (NURSING), AMONG OTHERS. TOTAL COMMITMENTS TO SCHOLARSHIPS FOR CHARLOTTE COUNTY RESIDENTS EXCEED 800,000. 328563 STRATEGIC OBJECTIVES: TO GROW AND PRESERVE CCF'S ENDOWMENT TO ADDRESS CHANGING COMMUNITY NEEDS; EXPAND THE COMMUNICATIONS AND MARKETING PROGRAM TO ENHANCE THE VISIBILITY OF THE FOUNDATION AND ITS ROLE IN BUILDING LEGACIES; ESTABLISH A PROACTIVE CULTURE IN GRANT MAKING TO ADDRESS UN- SERVED NEEDS; DEVELOP AND IMPLEMENT PROCEDURES THAT ENSURE BOTH THE IMPLEMENTATION OF CCF'S STRATEGIC PLAN AND CONTINUED IMPROVEMENT OF THE FOUNDATION'S GOVERNANCE STRUCTURE, OPERATIONS, AND COMMUNICATIONS SYSTEMS. 328563 1501331 true true false false false true false false false true true false false false false true true false false false false false false false false false false true false false false false false false false false false false true false false false false false false false false true 5 0 true 5 true false false false false false false false false false false false false false false false X 11 10 false false false false false false false true true false false true true true true false true true true false X DEBORAH M RICCI 9416370077 403 SULLIVAN STREET UNIT 114 PUNTA GORDA FL 33950 GREGORY C BOBONICH 37.00 X X 85000 0 0 RON OLSEN 5.00 X X 0 0 0 BRIAN PRESLEY 5.00 X X 0 0 0 VERNON PEEPLES 5.00 X 0 0 0 ROBIN BAYNE 5.00 X X 0 0 0 HASAN HAMMAMI 2.00 X 0 0 0 DAVID HOLMES 5.00 X X 0 0 0 CONNIE KANTOR 2.00 X 0 0 0 RONALD MONCK 5.00 X X 0 0 0 JIMMY DEAN 2.00 X 0 0 0 MARY BRYSKI 2.00 X 0 0 0 DOUGLAS L YOUNG 2.00 X 0 0 0 85000 false false false 166363 35420 166363 113295 113295 3520999 2631 3245509 142230 275490 -139599 135891 135891 FUND MANAGEMENT FEES 51022 51022 MISCELLANEOUS INCOME 248 248 51270 466819 187161 113295 1120497 1120497 85000 67150 11900 5950 127934 103197 20040 4697 25463 20370 3819 1274 17543 14035 2631 877 51022 40818 7653 2551 13335 10668 2000 667 33281 26625 4992 1664 6827 1504 4402 921 39026 31221 5854 1951 40289 27104 11490 1695 11949 5616 5616 717 15342 12274 2301 767 1552 1552 16638 14142 2496 2376 1901 356 119 3321 2657 498 166 1611395 1501331 86048 24016 144106 186812 1033204 2461 2461 490316 20650 515053 469666 4278958 4174803 5973782 4833742 4941 6907 3320 8520 8261 15427 X 2489425 2030840 3476096 2787475 5965521 4818315 5973782 4833742 -1144576 105093 -107723 X false true X false false X 1395661 206399 92832 2054015 166363 3915270 1395661 206399 92832 2054015 166363 3915270 3915270 109786 74392 97450 86549 113295 481472 4396742 51270 0.89050 0.90900 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 16 23 34054 89896 29250 1032742 314576 2484428 true true 3178180 57523 269673 41441 2438431 1423419 1917973 -26833 31976 3178180 1338368 26150 153461 29218 1423419 1202006 23837 148892 36367 1338368 419523 1198080 256220 159377 1202006 1.00000 false false 293514 293514 37150 37150 27691 20650 7041 337705 X 524175 105093 105093 419082 47737 47737 466819 1563658 -47737 -47737 1611395 1611395 INTENDED USES FOR ENDOWMENT FUNDS SCHEDULE D, PAGE 2, PART V, LINE 4 THE PRIMARY PURPOSE OF THE ENDOWMENT FUNDS ADMINISTERED BY THE FOUNDATION IS TO SUPPORT THE PROGRAMS AND SERVICES OF THE DONOR ENTITY AND TO ADHERE TO THE ENTITY'S MISSION AS DESCRIBED IN ITS BYLAWS OR ORGANIZATIONAL DOCUMENTS. FOR INDIVIDUALS ESTABLISHING ENDOWMENT FUNDS, SUCH FUNDS ARE ADMINISTERED IN ACCORDANCE WITH THE TERMS OF THE ENDOWMENT FUND AGREEMENT WITH THE FOUNDATION. DISTRIBUTIONS FROM ENDOWMENT FUNDS ARE MADE IN ACCORDANCE WITH FOUNDATION POLICIES, CONSIDERING REQUESTS FROM THE DONOR ENTITY OR INDIVIDUAL. LIABILITY UNDER FIN 48 FOOTNOTE SCHEDULE D, PAGE 3, PART X THE FOUNDATION HAS ADOPTED THE PROVISIONS OF ACCOUNTING STANDARDS CODIFICATION (ASC) 740, INCOME TAXES, WHICH PRESCRIBES A COMPREHENSIVE MODEL OF RECOGNITION, CLASSIFICATION AND DISCLOSURE OF UNCERTAIN TAX POSITIONS. MANAGEMENT BELIEVES THAT APPROPRIATE SUPPORT EXISTS FOR THE POSITIONS TAKEN ON THE FOUNDATION'S TAX RETURNS, BOTH THE U.S. INTERNAL REVENUE SERVICE (IRS) AND THE STATE OF FLORIDA DEPARTMENT OF REVENUE. THEREFORE, NO ACCRUAL FOR TAX LIABILITIES RELATED TO SUCH TAX POSITIONS HAS BEEN MADE. SHOULD INTEREST EXPENSE AND/OR PENALTIES BE ASSESSED BY THESE TAXING AUTHORITIES, THE FOUNDATION WOULD RECOGNIZE THESE COSTS AS OPERATING EXPENSES. DURING THE YEAR ENDED DECEMBER 31, 2012, THE FOUNDATION DID NOT INCUR INTEREST EXPENSE AND/OR PENALTIES RELATED TO INCOME TAXES. THE FOUNDATION'S FEDERAL AND STATE INCOME TAX RETURNS COULD GENERALLY BE SUBJECT TO EXAMINATION FOR THREE YEARS AFTER THE FILING DATE OF SUCH TAX RETURNS. THE FOUNDATION HAS NOT BEEN NOTIFIED OF ANY TAX RETURN EXAMINATIONS. REVENUE AMOUNTS INCLUDED ON RETURN - OTHER SCHEDULE D, PAGE 4, PART XI, LINE 4B ENDOWMENT FEE 46,966 RETURNED SCHOLARSHIP CHECK 3,000 LOSS ON ASSET SALE -2,229 EXPENSE AMOUNTS INCLUDED IN FINANCIALS - OTHER SCHEDULE D, PAGE 4, PART XII, LINE 2D FUND MGT FEES ALLOCATED TO ENDOWMENT -46,966 SCHOLARSHIP RETURN CHECK -3,000 LOSS ON EQUIPMENT 2,229 SUPPLEMENTAL FINANCIAL INFORMATION SCHEDULE D, PAGE 4, PART XIII THE FOUNDATION ACQUIRED LAND IN DOWNTOWN PUNTA GORDA, AND HAS BEGUN CONSTRUCTION OF ITS FUTURE HOME. THE DESIGN OF THE PERMANENT CHARLOTTE COMMUNITY FOUNDATION CAMPUS INCLUDES TWO BUILDINGS JOINED BY A COURTYARD. ONE BUILDING IS FOR THE DAILY OPERATIONS, AND INCLUDES MEETING ROOMS, A RESOURCE LIBRARY FOR USE BY NONPROFIT ORGANIZATIONS TO ACCESS SOURCES OF FUNDING THROUGHOUT THE COUNTRY USING THE FOUNDATION CENTER COLLABORATIVE COLLECTION, AND STAFF OFFICE SPACE. THE EDUCATION CENTER WILL PROVIDE A CLASSROOM SUITABLE FOR NONPROFIT NETWORK TRAINING PROGRAMS AND WORKSHOPS AND WILL BE AVAILABLE TO OTHER NONPROFIT ORGANIZATIONS FOR THEIR USE. AT THE CLOSE OF 2012, THE FOUNDATION HAD INCURRED ENGINEERING RELATED START-UP COSTS AND CONSTRUCTION COSTS WHICH HAVE BEEN RECORDED TO CONSTRUCTION IN PROGRESS TOTALING 131,961. UNTIL THE BUILDING PROJECT IS COMPLETE, THE FOUNDATION WILL CONTINUE TO LEASE OFFICE SPACE IN DOWNTOWN PUNTA GORDA. false CHARLOTTE COUNTY HOMELESS COALITION 1476 KENESAW PORT CHARLOTTE FL 33948 650139525 3 10900 VIRGINIA B ANDES VOLUNTEER COMMUNIT 21450 GIBRALTER DRIVE PORT CHARLOTTE FL 33952 650958642 3 852138 DOCTORS WITHOUT BORDERS 333 7TH AVENUE FL 2 NEW YORK NY 100015126 133433452 3 8760 CHARLOTTE LOCAL EDUCATION FOUNDATIO PO BOX 511764 PUNTA GORDA FL 339511764 592592844 3 16833 TEAM PUNTA GORDA 252 W MARION AVE 121 PUNTA GORDA FL 339504435 202375899 3 6900 CLARKSON UNIVERSITY PO BOX 5515 POTSDAM NY 13699 150543659 3 10000 MILITARY HERITAGE & AVIATION MUSEUM 1200 RETTA ESPLANADE 48 PUNTA GORDA FL 33950 651036360 3 80481 BOYS & GIRLS CLUBS OF CHARLOTTE COU 17831 MURDOCK CIRCLE UNIT B PORT CHARLOTTE FL 33948 650725247 3 15500 HARRY CHAPIN FOOD BANK 3760 FOWLER STREET FORT MYERS FL 33901 592332120 3 8000 DO THE RIGHT THING OF CHARLOTTE COU 1410 TAMIAMI TRAIL PUNTA GORDA FL 33950 650751450 3 6500 SUNCOAST HUMAN SOCIETY 6781 SAN CASA DRIVE ENGLEWOOD FL 34223 237174193 (3) 11223 CANINE CASTAWAYS 5293 NE MASTERS AVENUE ARCADIA FL 34266 200471681 (3) 11223 CHAR CO HABITAT FOR HUMANITY 1750 MANZANA AVENUE PUNTA GORDA FL 33950 592870908 (3) 8261 PEACE RIVER WILDLIFE CENTER 3400 PONCE DELEON PARKWAY PUNTA GORDA FL 33950 592535665 (3) 7000 X 6 35420 false true false ALL OTHER ACCOMPLISHMENT DESCRIPTION FORM 990, PAGE 2, PART III, LINE 4D STRATEGIC OBJECTIVES: TO GROW AND PRESERVE CCF'S ENDOWMENT TO ADDRESS CHANGING COMMUNITY NEEDS; EXPAND THE COMMUNICATIONS AND MARKETING PROGRAM TO ENHANCE THE VISIBILITY OF THE FOUNDATION AND ITS ROLE IN BUILDING LEGACIES; ESTABLISH A PROACTIVE CULTURE IN GRANT MAKING TO ADDRESS UN- SERVED NEEDS; DEVELOP AND IMPLEMENT PROCEDURES THAT ENSURE BOTH THE IMPLEMENTATION OF CCF'S STRATEGIC PLAN AND CONTINUED IMPROVEMENT OF THE FOUNDATION'S GOVERNANCE STRUCTURE, OPERATIONS, AND COMMUNICATIONS SYSTEMS. ORGANIZATION'S PROCESS USED TO REVIEW FORM 990 FORM 990, PAGE 6, PART VI, LINE 11B THE FOUNDATION'S BOARD OF DIRECTORS RECEIVED AND REVIEWED THE FORM 990 BEFORE FILING. ENFORCEMENT OF CONFLICTS POLICY FORM 990, PAGE 6, PART VI, LINE 12C STATEMENT OF GENERAL POLICY ON CONFLICTS OF INTEREST: THIS POLICY RECOGNIZES THAT BOTH REAL AND APPARENT CONFLICTS OF INTEREST AND DUALITIES OF INTEREST (HEREINAFTER REFERRED TO AS "CONFLICTS") SOMETIMES OCCUR IN THE COURSE OF CONDUCTING THE CORPORATION'S DAILY AFFAIRS. A CONFLICT AS USED IN THIS POLICY REFERS ONLY TO PERSONAL, PROPRIETARY INTERESTS OF THE PERSONS COVERED BY THIS POLICY AND THEIR IMMEDIATE FAMILIES AND NOT TO PHILOSOPHICAL OR PROFESSIONAL DIFFERENCES IN OPINION. CONFLICTS OCCUR BECAUSE THE MANY PERSONS ASSOCIATED WITH THE CORPORATION SHOULD BE EXPECTED TO HAVE AND DO IN FACT GENERALLY HAVE MULTIPLE INTERESTS AND AFFILIATIONS AND VARIOUS POSITIONS OF RESPONSIBILITY WITHIN THE COMMUNITY. SOMETIMES A PERSON WILL OWE IDENTICAL DUTIES TO TWO OR MORE ORGANIZATIONS CONDUCTING SIMILAR ACTIVITIES. CONFLICTS ARE UNDESIRABLE BECAUSE THEY POTENTIALLY OR APPARENTLY PLACE THE INTERESTS OF OTHERS AHEAD OF THE CORPORATION'S OBLIGATIONS TO ITS CORPORATE PURPOSES AND TO THE PUBLIC INTEREST. CONFLICTS ARE ALSO UNDESIRABLE BECAUSE THEY OFTEN REFLECT ADVERSELY UPON THE PERSONS INVOLVED AND UPON THE INSTITUTIONS WITH WHICH THEY ARE AFFILIATED, REGARDLESS OF THE ACTUAL FACTS OR MOTIVATIONS OF THE PARTIES. HOWEVER, THE LONG-RANGE BEST INTERESTS OF THE CORPORATION DO NOT REQUIRE THE TERMINATION OF ALL ASSOCIATION WITH PERSONS WHO MAY HAVE REAL OR APPARENT CONFLICTS IF A PRESCRIBED AND EFFECTIVE METHOD CAN RENDER SUCH CONFLICTS HARMLESS TO ALL CONCERNED. THEREFORE, THE CORPORATION'S AFFIRMATIVE POLICY SHALL BE TO REQUIRE THAT ALL ACTUAL OR APPARENT CONFLICTS BE DISCLOSED PROMPTLY AND FULLY TO ALL NECESSARY PARTIES AND TO PROHIBIT SPECIFIED INVOLVEMENT IN THE AFFAIRS OF THE CORPORATION BY PERSONS HAVING SUCH CONFLICTS. COVERAGE OF THIS POLICY: THIS POLICY SHALL APPLY TO THE DIRECTORS, OFFICERS, AGENTS AND EMPLOYEES OF THE CORPORATION, INCLUDING ADVISORY COUNCIL MEMBERS, OFFICE VOLUNTEERS, AND INDEPENDENT CONTRACTOR PROVIDERS OF SERVICES AND MATERIALS. THE CORPORATION'S MANAGEMENT SHALL HAVE THE AFFIRMATIVE OBLIGATION TO PUBLICIZE PERIODICALLY THIS POLICY TO ALL SUCH PARTIES. DISCLOSURE OF ALL CONFLICTS: EACH PERSON TO WHOM THIS POLICY APPLIES SHALL DISCLOSE ALL REAL AND APPARENT CONFLICTS, WHICH HE/SHE DISCOVERS OR HAS BROUGHT TO HIS/HER ATTENTION IN CONNECTION WITH THE CORPORATION'S ACTIVITIES. "DISCLOSURE" AS USED IN THIS POLICY SHALL MEAN PROVIDING PROMPTLY TO THE APPROPRIATE PERSONS A WRITTEN DESCRIPTION OF THE FACTS COMPRISING THE REAL OR APPARENT CONFLICT. ALL DISCLOSURE NOTICES RECEIVED HEREUNDER SHALL BE NOTED FOR THE RECORD IN THE MINUTES OF THE MEETING OF THE BOARD OF DIRECTORS. PROSCRIBED ACTIVITY BY PERSONS HAVING CONFLICTS: WHEN A DIRECTOR, OFFICER, AGENT OR EMPLOYEE BELIEVES THAT HE/SHE OR A MEMBER OF HIS/HER IMMEDIATE FAMILY MIGHT HAVE OR DOES HAVE A REAL OR APPARENT CONFLICT, HE SHALL, IN ADDITION TO MAKING THE REQUIRED DISCLOSURE, ABSTAIN FROM MAKING MOTIONS, VOTING, EXECUTING AGREEMENTS, OR TAKING ANY OTHER SIMILAR DIRECT ACTION ON BEHALF OF THE CORPORATION WHERE THE CONFLICT MIGHT PERTAIN, BUT SHALL NOT BE PRECLUDED FROM DEBATE OR OTHER SIMILAR INVOLVEMENT ON BEHALF OF THE CORPORATION. WHEN ANY PERSON REQUESTS IN WRITING, OR UPON ITS OWN INITIATIVE, THE BOARD AT ANY TIME MAY ESTABLISH FURTHER GUIDELINES CONSISTENT WITH THE INTERESTS OF THE CORPORATION FOR THE RESOLUTION OF ANY REAL OR APPARENT CONFLICTS. COMPENSATION PROCESS FOR TOP OFFICIAL FORM 990, PAGE 6, PART VI, LINE 15A THE CHARLOTTE COMUNITY FOUNDATION'S CHIEF EXECUTIVE OFFICER FOR THE FOUNDATION IS REVIEWED ON A YEARLY BASIS, ON OR ABOUT THE ANNIVERSARY DATE OF EMPLOYMENT. THE CHAIRMAN SELECTS A TASK FORCE CONSISTING OF MEMBERS OF CCF'S EXECUTIVE COMMITTEE, ALONG WITH ANY OTHER BOARD MEMBERS, TO BOTH REVIEW THE PERFORAMANCE OF AND MEET WITH THE CEO TO DISCUSS THEIR ASSESSMENT AND EXPECTATIONS FOR FUTURE ENGAGEMENT. THE COMMITTEE FIRST MEETS INDEPENDENTLY OF THE CEO TO IDENTIFY ANY SPECIFIC ISSUES/CONCERNS. THE DISCUSSION WILL TAKE INTO ACCOUNT ANY INFORMATION THAT THE CEO WISHES TO PROVIDE TO THE COMMITTEE. AREAS TO BE ADDRESSED INCLUDE SUCH JOB RESPONSIBILITIES AS PLANNING, OPERATIONS, GOVERNANCE, PUBLIC RELATIONS, DEVELOPMENT AND MARKETING, LINKAGES WITH OTHER FUNDRAISING AND PHILANTHROPIC GROUPS, FISCAL MANAGEMENT, GRANT MAKING, INVESTMENT MANAGEMENT AND FUNDRAISING. IN ADDITION, GOALS AND/OR OBJECTIVES ESTABLISHED IN THE PREVIOUS YEAR ARE REVIEWED ALONG WITH AREAS REQUIRING IMPROVEMENT AND/OR ACCOMPLISHMENTS. THE COMMITTEE THEN MEETS WITH THE CEO TO DISCUSS OUTCOMES OF THEIR INDEPENDENT ASSESSMENT. DURING THE DISCUSSION, NEW GOALS, AS APPROPRIATE, ARE ADDRESSED AND AGREED UPON BY ALL PARTIES. COMPENSATION FOR CEO IS MADE AFTER AN ANNUAL REVIEW OF PERFORMANCE MADE BY CHAIRMAN AND VICE-CHAIRMAN. THEIR RECOMMENDATION IS THEN SENT TO BE APPROVED BY THE ENTIRE CCF BOARD. THE CEO IS HIRED ON A ONE YEAR CONTRACT PERIOD, TO BE RENEWED BY THE MUTUAL AGREEMENT OF BOTH PARTIES. COMPENSATION PROCESS FOR OFFICERS FORM 990, PAGE 6, PART VI, LINE 15B THE CEO CONDUCTS AN ANNUAL PERFORMANCE REVIEW WITH KEY EMPLOYEES ON THEIR ANNIVERSARY DATE OF HIRE. BASED ON OVERALL PERFORMANCE (GOALS ARE ESTABLISHED IN ADVANCE) THE CEO AND TREASURER MAKE A RECOMMENDATION TO CHAIR. THIS IS THEN PASSED ALONG TO THE FULL CCF BOARD FOR THEIR APPROVAL. GOVERNING DOCUMENTS DISCLOSURE EXPLANATION FORM 990, PAGE 6, PART VI, LINE 19 THE GOVERNING DOCUMENTS ARE MADE AVAILABLE TO THE PUBLIC UPON REQUEST. RECONCILIATION OF CHANGES - OTHER FORM 990, PART XI, LINE 9 ENDOWMENT FEE -46,966 RETURNED SCHOLARSHIP CHECK -3,000 LOSS ON ASSET SALE 2,229 FUND MGT FEES ALLOCATED TO ENDOWMENT 46,966 SCHOLARSHIP RETURN CHECK 3,000 LOSS ON EQUIPMENT -2,229 OTHER CHANGES IN NET ASSETS EXPLANATION FORM 990, PART XI, LINE 9 UNREALIZED GAINS ON SECURITIES 107,723