2012-10-19T15:36:17-05:00 2011-12-31 521511275 RAFFA PC 1899 L STREET NW SUITE 900 WASHINGTON DC 20036 990 2011-01-01 841530768 TELLURIDE FOUNDATION TELL 9707288717 PO BOX 4222 TELLURIDE CO 81435 PAUL MAJOR 9707288717 2012-10-19 1 FRANK H SMITH P00639053 2028225000 2012-10-19 2011 2016-02-24 21:20:13Z PAUL MAJOR PO BOX 4222 TELLURIDE CO 81435 4008588 0 X TELLURIDEFOUNDATION.ORG X 2000 CO PRESERVE & ENRICH THE QUALITY OF LIFE OF THE RESIDENTS, VISITORS & WORKFORCE OF THE TELLURIDE REGION. 34 34 4 45 0 0 3680535 2528587 40689 39463 91753 97814 27576 18681 3840553 2684545 2897329 2049104 0 0 300371 410756 0 0 84817 324106 308862 3521806 2768722 318747 -84177 8031564 7962820 1825747 1896105 6205817 6066715 X THE TELLURIDE FOUNDATION (THE FOUNDATION) IS COMMITTED TO PRESERVING AND ENRICHING THE QUALITY OF LIFE OF THE RESIDENTS, VISITORS AND WORKFORCE OF THE TELLURIDE REGION. THE FOUNDATION DOES THIS BY PROVIDING LEADERSHIP IN PHILANTHROPY, STRENGTHENING COMMUNITY GROUPS, SERVING AS A RESPONSIBLE STEWARD FOR ENTRUSTED FUNDS, AND SUPPORTING ACTIVITIES THAT CELEBRATE THE UNIQUE COMMUNITY. 0 0 2512412 2061641 39463 GRANTS AND ASSISTANCE PROGRAMS - COMMUNITY AND SPECIAL INITIATIVE GRANTS: FUNDED BY UNRESTRICTED GIFTS FROM GENEROUS DONORS, THE FOUNDATION HAS AWARDED OVER $22 MILLION SINCE ITS INCEPTION IN 2000. ANNUALLY THE COMMUNITY GRANTS PROGRAM AWARDS OVER $1 MILLION THROUGH A COMPETITIVE GRANTS PROGRAM TO ELIGIBLE 501(C)(3) NONPROFITS THAT SERVE THE PEOPLE OF SAN MIGUEL, OURAY AND WESTERN MONTROSE COUNTIES. THE COMMUNITY GRANTS ARE DECIDED BY A VOLUNTEER BOARD MEMBER GRANTS COMMITTEE. SPECIALS INITIATIVES GRANTS CAN BE AWARDED TWICE ANNUALLY. THEY ARE BOARD OF DIRECTORS SPONSORED INITIATIVES FOR LARGE HIGHLY LEVERAGED COLLABORATIONS OR MULTI-YEAR PROJECTS AND ARE DECIDED BY THE BOARD OF DIRECTORS. 2512412 1 1 0 0 0 1 0 0 0 0 1 0 0 0 1 1 0 1 0 0 0 0 0 0 0 0 0 1 1 1 0 0 0 0 0 0 0 0 0 0 0 0 0 1 1 1 0 0 1 42 0 1 4 1 0 0 0 0 0 0 0 0 0 0 X 34 34 0 0 1 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 CO X X PAUL MAJOR 9707288717 220 E COLORADO AVE 106 TELLURIDE CO 81435 ED BARLOW 1.00 X X 0 0 0 JOANNE CORZINE-BROWN 1.00 X X 0 0 0 BUNNY FREIDUS 1.00 X X 0 0 0 ANDREW KAROW 1.00 X X 0 0 0 RON ALLRED 1.00 X 0 0 0 MIKE ARMSTRONG 1.00 X 0 0 0 NEIL ARMSTRONG 1.00 X 0 0 0 LYNN BECK 1.00 X 0 0 0 RICHARD BETTS 1.00 X 0 0 0 HARMON BROWN 1.00 X 0 0 0 MARK DALTON 1.00 X 0 0 0 BOB DELVES 1.00 X 0 0 0 BRIDGETT EVANS 1.00 X 0 0 0 DAVIS FANSLER 1.00 X 0 0 0 ELAINE FISCHER 1.00 X 0 0 0 STU FRASER 1.00 X 0 0 0 TULLY FRIEDMAN 1.00 X 0 0 0 BILL GERSHEN 1.00 X 0 0 0 ALLAN GERSTLE 1.00 X 0 0 0 RON GILMER 1.00 X 0 0 0 J TOMILSON HILL 1.00 X 0 0 0 KEVIN HOLBROOK 1.00 X 0 0 0 CHUCK HORNING 1.00 X 0 0 0 SCOTT LEIGH 1.00 X 0 0 0 TRICIA MAXON 1.00 X 0 0 0 MEGAN MCMANEMIN 1.00 X 0 0 0 MELANIE MONTOYA 1.00 X 0 0 0 BRIAN O'NEIL 1.00 X 0 0 0 GEORGE PARKER 1.00 X 0 0 0 MARY RUBADEAU 1.00 X 0 0 0 SUSAN SAINT JAMES 1.00 X 0 0 0 NORMAN SCHWARZKOPF 1.00 X 0 0 0 ED SHERIDAN 1.00 X 0 0 0 DANIEL TISHMAN 1.00 X 0 0 0 SHEILA WALD 1.00 X 0 0 0 PAUL MAJOR 40.00 X 172500 0 22277 172500 0 22277 1 0 1 0 0 418390 2110197 2528587 FUND MANAGEMENT FEES 900099 39463 39463 39463 142112 142112 1279745 1324043 -44298 -44298 -44298 OTHER INCOME 900099 18681 18681 18681 2684545 39463 0 116495 1983411 1983411 65693 65693 194777 146083 9739 38955 166756 146314 14186 6256 2300 2016 228 56 25665 20912 1932 2821 21258 16771 1385 3102 7630 7630 45793 34344 6870 4579 28951 1174 27572 205 207 207 16931 10449 2411 4071 17109 10971 1711 4427 29602 17762 2959 8881 9475 5685 948 2842 11287 9102 883 1302 15687 7961 3745 3981 2170 787 1055 328 BAD DEBT EXPENSE 84389 84389 ADMINISTRATIVE FEES 32247 29022 3225 DUES & SUBSCRIPTIONS 6247 3748 625 1874 SPECIAL EVENTS/PROMO 1137 1137 2768722 2512412 171493 84817 1488471 1350674 2383668 2399424 2570 7161 85000 37500 5597 8306 568254 88256 489495 479998 3576188 3671400 575 8357 8031564 7962820 67739 79791 1095295 1082559 262316 345709 270836 263649 129561 124397 1825747 1896105 X 3728925 3882019 2393937 2184696 82955 0 6205817 6066715 8031564 7962820 X -84177 -54925 X 0 1 1 X 0 X 4079975 2818445 2350351 3680535 2524846 15454152 4079975 2818445 2350351 3680535 2524846 15454152 565299 14888853 302483 210359 150471 90620 142112 896045 38548 21851 27576 18681 106656 16456853 227501 0.90470 0.90750 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 11 145307 605565 1 1 0 1 500929 26518 474411 67325 61738 5587 479998 CHARITABLE GIFT ANNUITY 124397 124397 PART IV, LINE 2B: THE FOUNDATION ENTERS INTO AGREEMENTS WITH UNAFFILIATED NOT-FOR-PROFIT ORGANIZATIONS WHEREBY THE FOUNDATION AGREES TO MAINTAIN A FUND BALANCE ON BEHALF OF THE UNAFFILIATED ORGANIZATIONS FOR AN ADMINISTRATIVE FEE RANGING BETWEEN 0.75% AND 1.00% PER YEAR. THE FOUNDATION RECORDS THE FUNDS' BALANCES WITHIN THE FOUNDATION'S INVESTMENTS AND AS AN AGENCY PAYABLE. INCOME ON THE FUND IS RECORDED AS AN INCREASE TO INVESTMENTS AND AGENCY PAYABLE. AT DECEMBER 31, 2011 AND 2010, AN AGENCY PAYABLE AMOUNT OF $345,709 AND $262,316, RESPECTIVELY, IS SHOWN IN THE ACCOMPANYING STATEMENT OF FINANCIAL POSITION. DESCRIPTION OF UNCERTAIN TAX POSITIONS UNDER FIN 48: PART X: THE FOUNDATION REVIEWS AND ASSESSES ALL ACTIVITIES ANNUALLY TO IDENTIFY ANY CHANGES IN THE SCOPE OF THE ACTIVITIES AND REVENUE SOURCES AND THE TAX TREATMENT THEREOF TO IDENTIFY ANY UNCERTAIN TAX POSITIONS. FOR THE YEARS ENDED DECEMBER 31, 2011 AND 2010, MANAGEMENT DID NOT IDENTIFY ANY UNCERTAIN TAX POSITIONS REQUIRING RECOGNITION OR DISCLOSURE IN THESE CONSOLIDATED FINANCIAL STATEMENTS. 1 7TH JUDICIAL DISTRICT CHILD ADVOCACY CENTER 735 SOUTH 1ST STREET MONTROSE CO 81401 202086127 501(C)(3) 9100 OPERATIONS AH HAA SCHOOL FOR THE ARTS PO BOX 1590 TELLURIDE CO 81435 232594045 501(C)(3) 19500 OPERATIONS ANGEL BASKETS PMB22000 BOX 180 TELLURIDE CO 81435 900186107 501(C)(3) 10000 OPERATIONS ANIMAL HUMANE SOCIETY OF OURAY COUNTY INC PO BOX 2096 RIDGWAY CO 81432 841266231 501(C)(3) 9000 OPERATIONS BRIGHT FUTURES PO BOX 4216 TELLURIDE CO 81435 202169766 501(C)(3) 140277 OPERATIONS HILLTOP HEALTH SERVICES CORPORATION 540 SOUTH 1ST STREET MONTROSE CO 81401 742321009 501(C)(3) 8000 OPERATIONS LIBRARIES OF MONTROSE COUNTY FOUNDATION 320 SOUTH 2ND STREET MONTROSE CO 81401 870752578 501(C)(3) 10000 OPERATIONS MIDWESTERN COLORADO MENTAL HEALTH CENTER INC PO BOX 1208 MONTROSE CO 81402 840561224 501(C)(3) 20000 OPERATIONS MONTROSE COUNTY SENIOR CITIZENS TRANSPORTATION INC PO BOX 1416 MONTROSE CO 81402 742561376 501(C)(3) 15000 OPERATIONS MONTROSE MEMORIAL HOSPITAL 800 SOUTH THIRD STREET MONTROSE CO 81401 846002707 501(C)(3) 12500 OPERATIONS MOUNTAIN MUNCHKINS DAY CARE 455 MOUNTAIN VILLAGE BLVD SUITE A TELLURIDE CO 81435 841299345 501(C)(3) 34130 OPERATIONS MOUNTAIN SPROUTS PRESCHOOL INC PO BOX 1942 TELLURIDE CO 81435 841606568 501(C)(3) 12000 1500 ACTUAL COST TECHNICAL ASSISTANCE OPERATIONS MOUNTAINFILM LTD PO BOX 1088 TELLURIDE CO 81435 841271056 501(C)(3) 51100 OPERATIONS NATIONAL FILM PRESERVE LTD 800 JONES STREET BERKLEY CO 94710 237426302 501(C)(3) 18500 OPERATIONS OURAY COUNTY PUBLIC HEALTH PO BOX 670 OURAY CO 81427 846000791 501(C)(3) 7500 OPERATIONS OURAY COUNTY SCHOOLS COMMUNITY RESOURCE CONSORTIUM PO BOX 709 RIDGWAY CO 81432 841453650 501(C)(3) 13500 OPERATIONS PALM ARTS INC 721 WEST COLORADO AVENUE TELLURIDE CO 81435 270962251 501(C)(3) 18500 OPERATIONS PARADOX VALLEY SCHOOL PO BOX 420 PARADOX CO 81429 841595429 501(C)(3) 9000 OPERATIONS THE PINHEAD INSTITUTE INC PO BOX 2905 TELLURIDE CO 81435 841605984 501(C)(3) 13600 OPERATIONS RAINBOW SCHOOL AND DAY CARE CENTER INC PO BOX 1127 TELLURIDE CO 81435 840747586 501(C)(3) 36500 OPERATIONS RIDGWAY SCHOOL DISTRICT R-2 1115 SOUTH CLINTON STREET RIDGWAY CO 81432 846006275 501(C)(3) 5700 OPERATIONS SAN JUAN FIELD SCHOOL PO BOX 3726 TELLURIDE CO 81435 841588210 501(C)(3) 6000 OPERATIONS SAN MIGUEL COUNTY PO BOX 1068 TELLURIDE CO 81435 846000806 N/A 15000 OPERATIONS SAN MIGUEL EDUCATIONAL FUND PO BOX 1069 TELLURIDE CO 81435 237317485 501(C)(3) 8000 1500 ACTUAL COST TECHNICAL ASSISTANCE OPERATIONS SAN MIGUEL MENTORING PROGRAM PO BOX 1574 TELLURIDE CO 81435 841502625 501(C)(3) 50211 OPERATIONS SAN MIGUEL RESOURCE CENTER PO BOX 3243 TELLURIDE CO 81435 841248457 501(C)(3) 55500 OPERATIONS SAN MIGUEL WATERSHED COALITION PO BOX 1601 TELLURIDE CO 81435 841500508 501(C)(3) 13000 OPERATIONS SHERIDAN ARTS FOUNDATION PO BOX 2680 TELLURIDE CO 81435 841166423 501(C)(3) 24750 OPERATIONS STUDENTS TAKING ACTION AGAINST UNDERAGE DRINKING PO BOX 459 DOVE CREEK CO 81324 846013766 501(C)(3) 5400 OPERATIONS TELLURIDE ACADEMY PO BOX 2255 TELLURIDE CO 81435 840945670 501(C)(3) 131875 OPERATIONS TELLURIDE ADAPTIVE SKI PROGRAM PO BOX 2254 TELLURIDE CO 81435 841337870 501(C)(3) 35500 OPERATIONS TELLURIDE AIDS BENEFIT INC PO BOX 3819 TELLURIDE CO 81435 841553698 501(C)(3) 6500 OPERATIONS TELLURIDE CHAMBER MUSIC ASSOCIATION PO BOX 115 TELLURIDE CO 81435 742319709 501(C)(3) 7200 OPERATIONS TELLURIDE CHORAL SOCIETY PO BOX 727 TELLURIDE CO 81435 841330825 501(C)(3) 9000 OPERATIONS TELLURIDE COUNCIL FOR THE ARTS AND HUMANITIES PO BOX 152 TELLURIDE CO 81435 840712952 501(C)(3) 17000 OPERATIONS TELLURIDE EARLY CHILDHOOD CENTER 721 WEST COLORADO AVENUE TELLURIDE CO 81435 846001946 501(C)(3) 13000 OPERATIONS TELLURIDE EDUCATION FOUNDATION INC PO BOX 3548 TELLURIDE CO 81435 841251006 501(C)(3) 20500 OPERATIONS TELLURIDE HISTORICAL MUSEUM INC PO BOX 1597 TELLURIDE CO 81435 841034023 501(C)(3) 17500 OPERATIONS TELLURIDE LIZARD HEADS PO BOX 1232 TELLURIDE CO 81435 841090533 501(C)(3) 8000 OPERATIONS TELLURIDE MOUNTAIN SCHOOL INC 200 SAN MIGUEL RIVER TELLURIDE CO 81435 841481180 501(C)(3) 25500 OPERATIONS TELLURIDE NORDIC ASSOCIATION INC PO BOX 1784 TELLURIDE CO 81435 841156121 501(C)(3) 10500 OPERATIONS TELLURIDE PRESCHOOL INC PO BOX 717 TELLURIDE CO 81435 841207351 501(C)(3) 18100 OPERATIONS TELLURIDE R1 SCHOOL DISTRICT 725 WEST COLORADO AVENUE TELLURIDE CO 81435 980292700 501(C)(3) 9000 OPERATIONS TELLURIDE REPERTORY THEATRE COMPANY PO BOX 2469 TELLURIDE CO 81435 841153491 501(C)(3) 15000 1500 ACTUAL COST TECHNICAL ASSISTANCE OPERATIONS TELLURIDE SKI AND SNOWBOARD CLUB INC PO BOX 2824 TELLURIDE CO 81435 841152879 501(C)(3) 39750 OPERATIONS TELLURIDE SOCIETY FOR JAZZ PO BOX 2132 TELLURIDE CO 81435 841171778 501(C)(3) 15000 OPERATIONS TELLURIDE VOLUNTEER FIRE DEPARTMENT PO BOX 1602 TELLURIDE CO 81435 841074769 501(C)(3) 10000 PROJECT TELLURIDE YOUTH SOCCER CLUB PO BOX 1799 TELLURIDE CO 81435 841569268 501(C)(3) 8000 OPERATIONS TODDLER TOWN OF TELLURIDE INC PO BOX 4204 TELLURIDE CO 81435 263684506 501(C)(3) 15000 OPERATIONS TOMTEN INSTITUTE PO BOX 437 TELLURIDE CO 81435 841550594 501(C)(3) 7500 OPERATIONS TRI-COUNTY HEALTH NETWORK PO BOX 4222 TELLURIDE CO 81435 274743848 501(C)(3) 60834 OPERATIONS UNCOMPAHGRE BOARD OF COOPERATIVE SERVICES PO BOX 728 RIDGWAY CO 81432 841420551 501(C)(3) 15000 OPERATIONS UNCOMPAHGRE COMBINED CLINICS DBA UNCOMPAHGRE MEDICAL CENTER PO BOX 280 NORWOOD CO 81423 841071822 501(C)(3) 15000 OPERATIONS UNIVERSITY CENTERS OF THE SAN MIGUEL INC PO BOX 1621 TELLURIDE CO 81435 203690304 501(C)(3) 15500 OPERATIONS WRIGHT STUFF COMMUNITY FOUNDATION PO BOX 340 TELLURIDE CO 81435 841452620 501(C)(3) 49468 OPERATIONS 55 0 SCHOLARSHIP 10 65693 PROCEDURE FOR MONITORING GRANTS IN THE U.S.: PART I, LINE 2: SCHEDULE I, PART I, LINE 2: AS RECOMMENDED BY THE COUNCIL ON FOUNDATIONS, THE FOUNDATION FOLLOWS BEST PRACTICES OF DUE DILIGENCE FOR GRANTEES BY 1) CHECKING CURRENT IRC SECTION CODE 501(C)(3) STATUS WITH THE IRS DATABASE, 2) CHECKING CURRENT COLORADO STATE "GOOD STANDING" STATUS, 3) REQUIRING DOCUMENTATION OF MISSION, BOARD OF DIRECTORS, CURRENT FINANCIAL AND AUDIT (IF AVAILABLE), AND 4) REQUIRING ALL GRANTEES TO REPORT BACK WITHIN 9 MONTHS ON FINANCIAL AND PROGRAM/PROJECT PERFORMANCE. X X X 0 0 0 0 0 0 0 0 0 PAUL MAJOR 172500 0 0 0 0 0 5175 0 17102 0 194777 0 0 0 FORM 990, PART VI, SECTION A, LINE 4 A.) CREATE TWO VICE-CHAIRPERSON OFFICER POSITIONS (SECTION 4.1 AND 4.2(B)) B.) CHANGE CASH TO ACCRUAL BASIS OF ACCOUNTING TO REFLECT ACTUAL ACCOUNTING METHOD (SECTION 5.8) FORM 990, PART VI, SECTION B, LINE 11 THE FOUNDATION HIRES AN INDEPENDENT ACCOUNTING FIRM TO PREPARE THE FEDERAL FORM 990. UPON SUBMISSION, THE DRAFT FORM 990 IS REVIEWED AND APPROVED BY THE FOUNDATION'S AUDIT COMMITTEE MEMBERS AND MANAGEMENT STAFF. ONCE APPROVED, THE FOUNDATION EMAILS A WEB LINK OF THE FEDERAL FORM 990 TO EACH BOARD MEMBER TO VIEW BEFORE THE FINAL COPY IS SUBMITTED TO THE INTERNAL REVENUE SERVICE. FORM 990, PART VI, SECTION B, LINE 12C ON AN ANNUAL BASIS, THE FOUNDATION ASKS BOARD MEMBERS AND STAFF TO COMPLETE A DISCLOSURE FORM WHICH REQUIRES THEM TO IDENTIFY ANY POTENTIAL CONFLICTS OF INTEREST. AFTER FULL DISCLOSURE, THE CONFLICTED FOUNDATION ASSOCIATE MAY BE PRESENT FOR DISCUSSION OF THE MATTER. AT HIS OR HER DISCRETION, AN ASSOCIATE SHALL BE ALLOWED TO VOTE ON THE MATTER IF THE CONFLICT IS OF THE SAME DEGREE AS IF THE ASSOCIATE WERE A TRUSTEE OR MEMBER OF THE BOARD OF DIRECTORS OF A CORPORATION WHICH WOULD BE ADVANTAGED OR DISADVANTAGED BY THE OUTCOME OF FOUNDATION ACTION OR INACTION. AN ASSOCIATE SHALL NOT VOTE ON THE MATTER IF THE ASSOCIATE'S PERSONAL FINANCIAL INTERESTS WOULD BE ADVANTAGED OR DISADVANTAGED BY FOUNDATION ACTION OR INACTION. IN THE EVENT THERE IS A BREACH OF THIS POLICY OR ALLEGATION OF A BREACH BROUGHT BY A FOUNDATION ASSOCIATE, THE MATTER SHALL BE REVIEWED AND CONSIDERED BY THE EXECUTIVE COMMITTEE. IN ITS REVIEW OF THE MATTER THE EXECUTIVE COMMITTEE SHALL DECIDE WHAT REMEDY, IF ANY, IS APPROPRIATE AND WHICH THE FOUNDATION SHALL IMPOSE. ANY PARTY TO THE MATTER MAY APPEAL THE DECISION OF THE EXECUTIVE COMMITTEE TO THE BOARD OF DIRECTORS, FOR REVIEW, CONSIDERATION AND FINAL DECISION BY THE BOARD OF DIRECTORS, IN A PROCESS TO BE DETERMINED BY THE BOARD OF DIRECTORS, AND WHICH DECISION BY THE BOARD OF DIRECTORS SHALL BE FINAL. FORM 990, PART VI, SECTION B, LINE 15 THE FOUNDATION CONDUCTED A COMPENSATION REVIEW IN 2011 WHICH INCLUDED THE FOLLOWING: - A PERFORMANCE REVIEW SURVEY OF THE CEO WHICH WAS COMPLETED BY EVERY EXECUTIVE COMMITTEE MEMBER. - A REVIEW OF THE PERFORMANCE SURVEY RESULTS WITH THE CEO BY THREE MEMBERS OF THE EXECUTIVE COMMITTEE (INCLUDING THE CO-CHAIRS AND TREASURER). - A COMPENSATION REVIEW FOLLOWING THE PERFORMANCE REVIEW WHICH WILL UTILIZE THE COMPARABLE COMPENSATION DATA FROM THE FOUNDATION INDUSTRY-WIDE 2009 COUNCIL ON FOUNDATION SALARY AND BENEFITS SURVEY. - CEO PERFORMANCE AND COMPENSATION REVIEW WHICH WAS REPORTED BY THE EXECUTIVE COMMITTEE TO THE ENTIRE BOARD OF DIRECTORS AT THE DECEMBER 2011 ANNUAL MEETING AND DOCUMENTED IN THE BOARD OF DIRECTORS MINUTES. FORM 990, PART VI, SECTION C, LINE 19 THE FOUNDATION'S GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, FEDERAL FORM 990, AND FINANCIAL STATEMENTS ARE AVAILABLE TO THE PUBLIC ON ITS WEBSITE AND/OR UPON REQUEST. CHANGES IN NET ASSETS OR FUND BALANCES: FORM 990, PART XI, LINE 5: NET UNREALIZED LOSSES ON INVESTMENTS: -44,210. CHANGE IN VALUE OF CHARITABLE GIFT ANNUITY -10,715. TOTAL TO FORM 990, PART XI, LINE 5: -54,925. TRI-COUNTY HEALTH NETWORK PO BOX 4220 TELLURIDE CO 81435 274743848 HEALTH & HUMAN SERVICES CO 501(C)(3) LINE 11A, I TELLURIDE FOUNDATION 1 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 TRI-COUNTY HEALTH NETWORK B 60834 COST