2012-11-13T14:18:07-06:00 2012-06-30 420714325 MCGLADREY LLP 310 BROADWAY AVENUE S SUITE 300 ROCHESTER MN 55904 990 2011-07-01 363454285 SOUTHERN MINNESOTA INITIATIVE FOUNDATION SOUT 5074553215 525 FLORENCE AVENUE OWATONNA MN 55060 BRIAN CONZEMIUS 5074553215 2012-11-05 1 DANIEL W EDWARDS P00043974 5072886476 2011 2016-02-24 21:20:13Z BRIAN CONZEMIUS 525 FLORENCE AVENUE OWATONNA MN 55060 21304909 0 X HTTP://WWW.SMIFOUNDATION.ORG X 1986 MN PROVIDES GRANTS, LOANS AND TECHNICAL ASSISTANCE TO NON PROFITS, GOVERNMENT (CONT. ON SCH. O)AGENCIES AND BUSINESSES IN THE 20 COUNTY REGION TO CREATE ECONOMIC GROWTH BY LEVERAGING PARTNERSHIPS AND COLLABORATIONS. 15 15 67 0 0 0 2027218 6166598 271614 243378 2704446 1144546 0 0 5003278 7554522 1397751 1017851 0 0 1712750 1682990 0 0 143687 812817 851829 3923318 3552670 1079960 4001852 34660509 36995607 2397365 2576053 32263144 34419554 X PROVIDES GRANTS, LOANS AND TECHNICAL ASSISTANCE TO NON PROFITS, GOVERNMENT AGENCIES AND BUSINESSES IN THE 20 COUNTY REGION TO CREATE ECONOMIC GROWTH BY LEVERAGING PARTNERSHIPS AND COLLABORATIONS. 0 0 1246144 284197 SOUTHERN MINNESOTA INITIATIVE FOUNDATION PROVIDES GRANTS, LOANS AND TECHNICAL ASSISTANCE TO BUSINESSES, LOCAL GOVERNMENTS AND NONPROFIT ORGANIZATIONS THAT ACCELERATE THE CREATION OF NEW BUSINESSES AND INNOVATIVE VENTURES THAT WILL SHAPE OUR ECONOMY THROUGH PARTNERSHIPS WITHIN OUR REGION. 1037504 563316 243378 SOUTHERN MINNESOTA INITIATIVE FOUNDATION PROVIDES GRANTS AND TECHNICAL ASSISTANCE TO LOCAL GOVERNMENTS, COMMUNITY PARTNERSHIPS AND NONPROFIT ORGANIZATIONS. OUR WORKFORCE AND COMMUNITY ASSISTANCE EFFORTS ARE FOCUSING ON DEVELOPING COMMUNITIES ASSETS AND SKILLED WORKERS PREPARED TO DRIVE GROWTH WITHIN THE FOLLOWING KEY AREAS: EARLY CHILDHOOD EDUCATION (STRENGTHEN LOCAL RESOURCES FOR YOUNG CHILDREN AND THEIR FAMILIES),EXPERIENTIAL CAREER EDUCATION (PROVIDE OPPORTUNITIES FOR NON-COLLEGE BOUND STUDENTS TO SUCCEED IN THE WORKPLACE), ENGAGED ELDERS (ENGAGE OLDER CITIZENS IN PAID EMPLOYMENT OR VOLUNTEERISM RELATED TO OUR BUSINESS AND WORKFORCE INTEREST) AND NEW IMMIGRANTS (CAPITALIZE ON THE ASSETS OF NEW IMMIGRANTS IN THE WORKPLACE). 464640 49080 SOUTHERN MINNESOTA INITIATIVE FOUNDATION ADMINISTERS THE AMERICORPS-SOUTHERN MINNESOTA GRANT FOCUSING ON EARLY CHILDHOOD. SUPPORTED AMERICORP MEMBERS SERVE IN NON-PROFITS THROUGHOUT THE TWENTY COUNTY AREA WORKING WITH PRESCHOOL CHILDREN AND PARENTS ON EARLY LITERACY AND SCHOOL READINESS SUPPORT. 178414 121258 SOUTHERN MINNESOTA INITIATIVE FOUNDATION IS THE FISCAL HOST FOR VARIOUS COMMUNITY FOUNDATIONS IN THE REGION, SO THEY MAY CONDUCT ASSET-BASED DEVELOPMENT ACTIVITIES IN THEIR LOCAL COMMUNITIES. 178414 121258 2926702 1 1 0 0 0 1 0 0 0 1 1 1 0 0 1 1 1 0 0 0 0 0 0 0 0 0 0 1 1 1 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 0 1 67 0 1 67 1 0 0 0 0 0 0 0 0 X 15 15 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 MN X X BRIAN CONZEMIUS 5074553215 525 FLORENCE AVENUE OWATONNA MN 55060 STEVE UNDERDAHL 2.00 X X 0 0 0 ROBERT HOFFMAN 2.00 X X 0 0 0 STEPHEN WALDHOFF 2.00 X X 0 0 0 LINDA CRUZ LARES 2.00 X X 0 0 0 JEAN BURKHARDT 2.00 X 0 0 0 JULIE BOYLAND 2.00 X 0 0 0 BILL DAVIS 2.00 X 0 0 0 DAVE FISK 2.00 X 0 0 0 CAROL KAMPER 2.00 X 0 0 0 BUKATA HAYES 2.00 X 0 0 0 COLLEEN SKILLINGS 2.00 X 0 0 0 JOHN MONSON 2.00 X 0 0 0 DANNY HARJO 2.00 X 0 0 0 RAYMOND STAWARZ 2.00 X 0 0 0 SUE KOLLING 2.00 X 0 0 0 TIMOTHY PENNY 40.00 X 152987 0 13544 CAROL CERNEY 40.00 X 100229 0 13318 BRIAN CONZEMIUS 40.00 X 94328 0 9506 347544 0 36368 2 0 1 0 0 394439 5772159 353286 6166598 LOAN INTEREST 900099 243378 243378 243378 877904 877904 14017029 13750387 266642 266642 266642 7554522 243378 0 1144546 1001267 1001267 16584 16584 403886 240147 128570 35169 1042588 881018 104275 57295 19460 16931 852 1677 126613 113695 2613 10305 90443 76177 8532 5734 554 554 38073 1650 36423 153504 153504 14484 8636 354 5494 127508 105282 11125 11101 2854 1557 206 1091 58351 42087 9965 6299 6817 5957 392 468 19294 18424 549 321 25602 19153 4070 2379 2803 2097 446 260 BAD DEBTS 159045 159045 OTHER EXPENSES 128976 124263 4067 646 CONSULTANTS 99676 92178 2050 5448 BOARD EXPENSE 14288 14288 3552670 2926702 482281 143687 2208919 2323994 919720 4806297 3416874 3646406 14125 31739 1142804 516367 590818 626437 27487995 25546944 22058 13790 34660509 36995607 99534 107909 153989 65984 1859200 2119941 284642 282219 2397365 2576053 X 3064952 2910674 11326461 13360505 17871731 18148375 32263144 34419554 34660509 36995607 X 4001852 -1845442 X X 0 1 1 X 0 X 9871599 2336261 1773883 2027218 6166508 22175469 9871599 2336261 1773883 2027218 6166508 22175469 11945611 10229858 799418 1065360 915373 849237 877904 4507292 81183 81183 26763944 1438962 0.38220 0.44950 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 2 3500 4000 75557 1 1 26222261 505980 -851890 1102439 24773912 21592132 316997 5386657 1073525 26222261 19669559 351146 2622052 1050625 21592132 25371668 335669 -4888793 1148985 19669559 0.00000 0.73260 0.26740 0 0 706349 207696 498653 356455 298166 58289 80000 10505 69495 626437 OTHER INVESTMENTS 25546944 F 25546944 REFUNDABLE ADVANCES 53115 LINE OF CREDIT 229104 282219 7554522 3552670 4001852 -1852575 7133 -1845442 2156410 5555576 -1852575 7133 -153504 -1998946 7554522 0 7554522 3399166 0 3399166 153504 153504 3552670 DESCRIPTION OF INTENDED USE OF ENDOWMENT FUNDS: PART V, LINE 4: THE FOUNDATION HAS DEVELOPED A SPENDING POLICY WHICH USES UP TO 5% OF ITS ENDOWMENT BALANCE ANNUALLY TO SUPPORT ITS PROGRAMS AND ACTIVITIES. DESCRIPTION OF UNCERTAIN TAX POSITIONS UNDER FIN 48: PART X: THE FOUNDATION IS EXEMPT FROM FEDERAL INCOME TAXES AS A TAX-EXEMPT ORGANIZATION DESCRIBED IN SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE, EXCEPT FOR INCOME ON CERTAIN UNRELATED BUSINESS INCOME. AT JUNE 30, 2012, THERE IS NO MATERIAL AMOUNT OF UNRELATED BUSINESS INCOME. THE FOUNDATION IS ALSO EXEMPT FROM STATE INCOME TAXES UNDER APPLICABLE MINNESOTA STATUTES. EFFECTIVE JULY 1, 2009, THE FOUNDATION ADOPTED THE PROVISIONS OF ASC 740, INCOME TAXES, RELATED TO ACCOUNTING FOR UNCERTAINTY IN INCOME TAXES (PREVIOUSLY FIN 48). THESE PROVISIONS CLARIFY THE ACCOUNTING FOR UNCERTAINTY IN INCOME TAXES RECOGNIZED IN AN ENTERPRISE'S FINANCIAL STATEMENTS IN ACCORDANCE WITH ASC 740. THE STANDARD PRESCRIBES A RECOGNITION THRESHOLD AND MEASUREMENT ATTRIBUTE FOR THE FINANCIAL STATEMENT RECOGNITION AND MEASUREMENT OF A TAX POSITION TAKEN OR EXPECTED TO BE TAKEN IN A TAX RETURN. THE STANDARD ALSO PROVIDES GUIDANCE ON DERECOGNITION OF TAX BENEFITS, CLASSIFICATION ON THE BALANCE SHEET, INTEREST AND PENALTIES, ACCOUNTING IN INTERIM PERIODS, DISCLOSURE AND TRANSITION. THE INTERPRETATION REQUIRES THAT THE ENTITY RECOGNIZE IN THE FINANCIAL STATEMENTS THE IMPACT OF A TAX POSITION IF THAT POSITION WILL MORE LIKELY THAN NOT BE SUSTAINED ON AUDIT, BASED ON THE TECHNICAL MERITS OF THE POSITION. IN EVALUATING WHETHER A TAX POSITION HAS MET THE MORE-LIKELY-THAN-NOT RECOGNITION THRESHOLD, THE ENTITY SHOULD PRESUME THAT THE POSITION WILL BE EXAMINED BY THE APPROPRIATE TAXING AUTHORITY THAT HAS FULL KNOWLEDGE OF ALL RELEVANT INFORMATION. A TAX POSITION THAT MEETS THE MORE-LIKELY-THAN-NOT THRESHOLD IS MEASURED TO DETERMINE THE AMOUNT OF BENEFIT TO RECOGNIZE IN THE FINANCIAL STATEMENTS. THE TAX POSITION IS MEASURED AT THE LARGEST AMOUNT OF BENEFIT THAT IS GREATER THAN 50 PERCENT LIKELY OF BEING REALIZED UPON SETTLEMENT. INCOME TAX POSITIONS MUST MEET A MORE-LIKELY-THAN-NOT RECOGNITION THRESHOLD AT THE EFFECTIVE DATE TO BE RECOGNIZED UPON THE ADOPTION OF THESE PROVISIONS AND IN SUBSEQUENT PERIODS. THE ADOPTION OF THE ASC 740 PROVISIONS HAD NO IMPACT ON THE FINANCIAL STATEMENTS. AT JUNE 30, 2012 THE FEDERAL AND MINNESOTA TAX RETURNS FOR THE FOUNDATION ARE OPEN FOR EXAMINATION BY TAXING AUTHORITIES FOR THE YEARS 2009 TO 2011. AT JUNE 30, 2012, THE FOUNDATION DID NOT RECORD LIABILITIES FOR UNCERTAIN TAX POSITIONS. PART XII, LINE 2D - OTHER ADJUSTMENTS: INVESTMENT FEES NETTED WITH REVENUE -153,504. PART XIII, LINE 4B - OTHER ADJUSTMENTS: INVESTMENT FEES NETTED WITH REVENUE 153,504. 1 ISD #204 - KASSON MANTORVILLE COMMUNITY EDUCATION KASSON MN 55944 416008530 SCHOOL/EDUCATION 11243 FMV BOOKS BOOKSTART BOOKS ISD #2137 - KINGSLAND COMMUNITY EDUCATION SPRING VALLEY MN 55975 411740007 SCHOOL/EDUCATION 7322 FMV BOOKS BOOKSTART BOOKS ISD #2198 - FILLMORE CENTRAL COMMUNITY ED 702 CHATFIELD ST PRESTON MN 55965 411809022 SCHOOL/EDUCATION 7580 FMV BOOKS BOOKSTART BOOKS ISD #239 - RUSHFORD PETERSON COMMUNITY EDUCATION RUSHFORD MN 559710627 411655958 SCHOOL/EDUCATION 5237 FMV BOOKS BOOKSTART BOOKS ISD #756 BLOOMING PRAIRIE ECFE 123 2ND ST NW BLOOMING PRAIRIE MN 55917 416004108 SCHOOL/EDUCATION 6862 FMV BOOKS BOOKSTART BOOKS ISD #77 - MANKATO ESL FAMILY LITERACY LINCOLN COMMUNITY CENTER MANKATO MN 56001 416000310 SCHOOL/EDUCATION 7382 FMV BOOKS BOOKSTART BOOKS ISD #829 - WASECA COMMUNITY EDUCATION WASECA MN 560933360 416008759 SCHOOL/EDUCATION 5628 FMV BOOKS BOOKSTART BOOKS ISD #861 - WINONA AREA MADISON ELEMENTARY MADISON ELEMENTARY SCHOOL WINONA MN 55987 416004759 SCHOOL/EDUCATION 5013 FMV BOOKS BOOKSTART BOOKS ISD #88 - NEW ULM ECFE CREATIVE KIDS PRESCHOOL NEW ULM MN 56073 416000373 SCHOOL/EDUCATION 11370 FMV BOOKS BOOKSTART BOOKS ISD #4064 - RIVERWAY LEARNING COMMUNITY 115 IOWA ST MINNESOTA CITY MN 55959 411945936 501C3 5685 FMV BOOKS BOOKSTART BOOKS YOUTH FIRST 714 VICTORIA ST FAIRMONT MN 56031 200671259 501C3 10594 FMV BOOKS BOOKSTART BOOKS MOBILIZE MONTGOMERY 206 1ST ST S MONTGOMERY MN 56069 411724371 501C3 8792 FMV BOOKS BOOKSTART BOOKS ISD #659 - NORTHFIELD 1651 JEFFERSON PKWAY NORTHFIELD MN 55057 416008327 SCHOOL/EDUCATION 9844 FMV BOOKS BOOKSTART BOOKS RIDGEWAY COMMUNITY SCHOOL 35564 COUNTY RD 12 HOUSTON MN 55943 412015115 SCHOOL/EDUCATION 5415 FMV BOOKS BOOKSTART BOOKS RIVERLAND COMMUNITY COLLEGE 1900 8TH AVE NW AUSTIN MN 55912 411687554 SCHOOL/EDUCATION 5628 FMV BOOKS BOOKSTART BOOKS SEMCAC INCORPORATED 204 ELM ST S RUSHFORD MN 55971 410907135 501C3 13103 FMV BOOKS BOOKSTART BOOKS TRI-VALLEY OPPORTUNITY COUNCIL INCORPORATED ROCHESTER MIGRANT HEAD START ROCHESTER MN 55901 410888488 501C3 7040 FMV BOOKS BOOKSTART BOOKS WATONWAN COUNTY PUBLIC HEALTH 715 2ND AVE S SAINT JAMES MN 560811731 416005922 GOVERNMENT 11828 FMV BOOKS BOOKSTART BOOKS ISD #204 - KASSON MANTORVILLE 606 16TH ST NE KASSON MN 55944 416008530 SCHOOL/EDUCATION 5200 FMV COMPUTER YOUNG EXPLORER COMPUTER ISD #492 - AUSTIN 912 1ST AVE NE AUSTIN MN 55912 416002526 SCHOOL/EDUCATION 5200 FMV COMPUTER YOUNG EXPLORER COMPUTER RIDGEWAY COMMUNITY SCHOOL 35546 COUNTY RD 12 HOUSTON MN 55943 412015115 SCHOOL/EDUCATION 5200 FMV COMPUTER YOUNG EXPLORER COMPUTER MAIN STREET PROJECT 105 FOURTH ST E STE 300 NORTHFIELD MN 55057 201788275 501C3 100000 AGRIPRENEUR INCUBATOR THE READING CENTER DYSLEXIA INSTITUTE OF MN 847 5TH ST NW ROCHESTER MN 55901 411633734 501C3 20000 BEFOR PROGRAM THE BIOBUSINESS ALLIANCE OF MN 1550 UTICA AVE S STE 725 SAINT LOUIS PARK MN 55416 202474734 501C3 20000 BIOINDUSTRIAL PROCESSING INITIATIVE FILLMORE COUNTY ECONOMIC DEVELOPMENT AUTHORITY 101 FILLMORE ST PRESTON MN 55965 416005794 GOVERNMENT 20000 BUSINESS SUCCESSION PLANNING CITY OF PINE ISLAND 250 MAIN ST S STE 211 PINE ISLAND MN 55963 416005457 GOVERNMENT 25000 BUSINESS SUCCESSION PLANNING ISD #77 MANKATO AREA PUBLIC SCHOOLS STUDENT SUPPORT SERVICES NORTH MANKATO MN 56003 416000310 SCHOOL/EDUCATION 17570 CLASS 2 CAREERS CITY OF MABEL 207 MAIN N MABEL MN 559540425 416005332 GOVERNMENT 25000 COMMUNITY CENTER NORTHFIELD ENTERPRISE CENTER 207 3RD ST W NORTHFIELD MN 55057 412018105 501C3 20000 COWORKING INCUBATOR/ACCELERATOR CIVIC LEAGUE DAY NURSERY SW 427 6TH AVE SW ROCHESTER MN 55902 410721719 501C3 20000 CREATIVE CURRICULUM PROFESSIONAL DEVELOP. ISD# 858 - SAINT CHARLES ST CHARLES ELEMENTARY SCHOOL ST CHARLES MN 55972 416004727 SCHOOL/EDUCATION 21500 EARLY CHILDHOOD INITIATIVE UNITED WAY OF BROWN COUNTY PO BOX 476 NEW ULM MN 56073 416033115 501C3 10351 ECFE ON WHEELS YOUTH FIRST 714 VICTORIA ST FAIRMONT MN 56031 200671259 501C3 5000 ECI COALTIONS PROJECT GRANT ISD #300 - LA CRESCENT HOKAH 703 11TH ST S LA CRESCENT MN 55947 416001467 SCHOOL/EDUCATION 5000 ECI COALTIONS PROJECT GRANT ISD #2071 - LAKE CRYSTAL WELLCOME MEMORIAL PO BOX 160 LAKE CRYSTAL MN 56055 411680296 SCHOOL/EDUCATION 5000 ECI COALTIONS PROJECT GRANT ISD #2448 - MARTIN COUNTY WEST 308 4TH ST WELCOME MN 56181 411716840 SCHOOL/EDUCATION 5000 ECI COALTIONS PROJECT GRANT MOBILIZE MONTGOMERY 206 1ST ST S MONTGOMERY MN 56069 411724371 501C3 5000 ECI COALTIONS PROJECT GRANT ISD #659 - NORTHFIELD 1651 JEFFERSON PKWAY NORTHFIELD MN 55057 416008327 SCHOOL/EDUCATION 5000 ECI COALTIONS PROJECT GRANT WASECA COUNTY COLLABORATIVE FOR FAMILIES 299 JOHNSON AVE STE 160 WASECA MN 56093 416008759 SCHOOL/EDUCATION 5000 ECI COALTIONS PROJECT GRANT ISD #840 - SAINT JAMES PO BOX 509 SAINT JAMES MN 56081 416004625 SCHOOL/EDUCATION 5000 ECI COALTIONS PROJECT GRANT CITY OF RED WING 315 4TH ST W RED WING MN 550660034 406005482 GOVERNMENT 25000 ENTREPRENEUR CGI REGENTS OF THE UNIVERSITY OF MN 300 UNIVERSITY SQ ROCHESTER MN 55904 416007513 SCHOOL/EDUCATION 30000 ENTREPRENEUR SUPPORT IN SOUTHERN MN LANESBORO LOCAL 101 PARKWAY AVE LANESBORO MN 55949 264769416 501C3 20000 ENTREPRENEUR TRAINING CITY OF RUSHFORD 101 MILL ST N RUSHFORD MN 559710430 416005505 GOVERNMENT 8670 FIRE BOOK PROJECT FREEBORN COUNTY PUBLIC HEALTH 411 BROADWAY S ALBERT LEA MN 56007 416005795 GOVERNMENT 10000 HOME VISITING ISD #2143 - WATERVILLE ELYSIAN MORRISOWN 6267 STATE HWY 60 WATERVILLE MN 56096 411743364 SCHOOL/EDUCATION 10000 HOME VISITING WASECA COUNTY PUBLIC HEALTH SERVICES 299 JOHNSON AVE SW WASECA MN 56093 416005917 GOVERNMENT 10000 HOME VISITING YOUTH FIRST PO BOX 826 FAIRMONT MN 56031 200671259 501C3 11900 KINDERGARTEN CAMP ISD #2137 - KINGSLAND 705 SECTION AVE N SPRING VALLEY MN 55975 411740007 SCHOOL/EDUCATION 15000 KINDERGARTEN PREP MN LICENSED FAMILY CHILD CARE ASSOCIATION 1821 UNIVERSITY AVE W STE 324 S SAINT PAUL MN 55104 416152641 501C3 20000 MENTORING FAMILY CHILD CARE PROVIDERS GRACE PLACE 66 2ND ST E WINONA MN 55987 411734728 501C3 10000 RUSHFORD OUTREACH PROGRAM FIRST CHILDREN'S FINANCE 212 3RD AVE N STE 212 MINNEAPOLIS MN 55401 411694837 501C3 10000 SO MN BUSINESS IMPROVEMENT PROJECT SOUTH CENTRAL SERVICE COOPERATIVE 2075 LOOKOUT DR MANKATO MN 56003 411297678 SCHOOL/EDUCATION 20000 SOCIAL EMOTIONAL TRAININGS ISD #77 - MANKATO COMMUNITY EDUCATION RECREATION MANKATO MN 56001 416000310 SCHOOL/EDUCATION 20000 STEP BY STEP BACKPACK PROJECT WELLCOME MANOR FAMILY SERVICES 114 PLEASANT ST W GARDEN CITY MN 560340238 208341986 501C3 15000 WELLCOME TO LEARNING! SCHOLARSHIPS 7 5000 PROCEDURE FOR MONITORING GRANTS IN THE U.S.: PART I, LINE 2: SCHEDULE I, PART I, LINE 2: THE FOUNDATION PROVIDES GRANTS ON AN OPEN APPLICATION BASIS. IT LISTS ITS REQUIREMENTS APPLYING FOR GRANTS ON ITS WEBSITE AND ON THE RFP IT SENDS OUT. THE FOUNDATION ALSO PROVIDES ASSISTANCE TO GRANT APPLICANTS AS NEEDED. THE FOUNDATION APPROVES THESE GRANTS BASED ON THE REQUIREMENTS LISTED FOR THE APPLICATION AND AGAINST ORGANIZATIONAL GUIDELINES AND BUDGET CONSTRAINTS. THE FOUNDATION REQUIRES THE APPLICANT FILL OUT AN APPLICATION AND UPON APPROVAL THE FOUNDATION WILL NOTIFY THE APPLICANT, HAVE THEM SIGN A CONTRACT AND THE FOUNDATION WILL REQUIRE ON-GOING CORRESPONDANCES, SITE VISITS, INTERIM AND FINAL REPORTS DEMONSTRATING DOLLARS WERE SPENT ACCORDING TO THE GUIDELINES THE FOUNDATION SET FORTH. X X X X 0 0 0 0 0 0 0 0 0 TIMOTHY PENNY 152987 0 0 0 0 0 4038 0 9922 0 166947 0 0 0 X 229638 FMV X COMPUTERS 40 104000 FMV X PAINT 734 18350 FMV X MISC SUPPLIES 1 1298 FMV 0 1 0 FORM 990, PART VI, SECTION B, LINE 11 THE FINANCE COMMITTEE WILL REVIEW THE 990 PRIOR TO FILING AND PRESENT TO THE BOARD FOR FULL APPROVAL. FORM 990, PART VI, SECTION B, LINE 12C EACH BOARD MEMBER IS REQUIRED TO SIGN A CONFLICT OF INTEREST FORM YEARLY. ALL BOARD AND COMMITTEE MEETINGS BEGIN WITH THE CONFLICT OF INTEREST STATEMENT "ASKING THE BOARD AS A WHOLE IF THERE ARE ANY CONFLICTS OF INTERESTS." THE EXECUTIVE COMMITTEE MONITORS ANY CONFLICTS ON AN ON-GOING BASIS. FORM 990, PART VI, SECTION B, LINE 15 THE FOUNDATION USES BENCHMARK INFORMATION TO DETERMINE COMPENSATION OF EMPLOYEES. THE BENCHMARK INFORMATION IS PULLED FROM SIMILAR NON-PROFITS, NATIONAL FOUNDATION SURVEYS, AND BUSINESS SALARY REPORTS. THE BOARD SETS THE COMPENSATION OF THE PRESIDENT WITH REVIEW AND APPROVAL BY THE EXECUTIVE COMMITTEE. THE REMAINING STAFF SALARIES ARE APPROVED BY LEADERSHIP TEAM WITH AT LEAST TWO OTHER MEMBERS SIGNING OFF ON ALL APPROVALS. THE FINANCE COMMITTEE AND BOARD APPROVES THE OVERALL ALLOCATION FOR SALARIES AND MONITORS THIS THROUGHOUT THE YEAR. ALL INCREASES ARE DONE ANNUALLY FOR ALL EMPLOYEES. FORM 990, PART VI, SECTION C, LINE 19 INFORMATION IS GIVEN ON OUR WEBSITE FOR REQUESTS AND THE CFO WILL MAKE ANY DOCUMENTS AVAILABLE UPON REQUEST. CHANGES IN NET ASSETS OR FUND BALANCES: FORM 990, PART XI, LINE 5: NET UNREALIZED LOSSES ON INVESTMENTS: -1,852,575. DONATED SERVICES AND USE OF FACILITIES: 7,133. TOTAL TO FORM 990, PART XI, LINE 5: -1,845,442. FORM 990, PAGE 12, PART XII LINE 2C: THE FINANCE COMMITTEE APPROVES AND MANAGES THE AUDITOR SELECTION AND PROCESS YEARLY. THE FOUNDATION COMMITTEE MEETS WITH THE AUDITOR PRIOR TO ENGAGEMENT TO ANSWER ANY QUESTIONS OR CONCERNS RELATED TO THE UPCOMING AUDIT, AT THAT POINT THE FINANCE COMMITTEE APPROVES THE AUDITOR SELECTION FOR THE YEAR. THE COMMITTEE WILL THEN HAVE ON-GOING COMMUNICATION WITH THE AUDIT TEAM AS NECESSARY AND WILL MEET WITH THE AUDITOR UPON COMPLETION OF THE AUDIT FOR REVIEW AND FINAL APPROVAL OF THE AUDIT REPORT. THE BOARD WILL ALSO, REVIEW AND MEET WITH THE AUDITOR AFTER THE AUDIT IS COMPLETED.