ROTARY 5950 FOUNDATION: Form 990, tax year 2025

View the entire original 990 at ProPublica ↗

Organization
ROTARY 5950 FOUNDATION (EIN 20-1365543)
Tax period
2025-01-01 to 2025-06-30
Filed
2026-03-24
IRS object ID
202610839349300341
Schema version
2025v4.0
Source
Download XML · Original 990 at ProPublica

Every field in the e-filed return. Faint text is the IRS element name, for citing.

Return header ReturnHeader

FieldValueIRS element (for citing)
Return2026-03-24T15:33:37-05:00ReturnTs
Tax Period End2025-06-30TaxPeriodEndDt

Preparer Firm PreparerFirmGrp

FieldValueIRS element (for citing)
Preparer Firm EIN410746749PreparerFirmEIN

Preparer Firm Name PreparerFirmName

FieldValueIRS element (for citing)
Business Name Line1CLIFTONLARSONALLEN LLPBusinessNameLine1Txt

Preparer US Address PreparerUSAddress

FieldValueIRS element (for citing)
Address Line14150 2ND STREET SOUTH SUITE 400AddressLine1Txt
CityST CLOUDCityNm
State AbbreviationMNStateAbbreviationCd
ZIP56301ZIPCd
FieldValueIRS element (for citing)
Return Type990ReturnTypeCd
Tax Period Begin2025-01-01TaxPeriodBeginDt

Filer Filer

FieldValueIRS element (for citing)
EIN201365543EIN

Business Name BusinessName

FieldValueIRS element (for citing)
Business Name Line1ROTARY 5950 FOUNDATIONBusinessNameLine1Txt
FieldValueIRS element (for citing)
Business Name ControlROTABusinessNameControlTxt
Phone7632258886PhoneNum

US Address USAddress

FieldValueIRS element (for citing)
Address Line1PO BOX 591AddressLine1Txt
CityWAYZATACityNm
State AbbreviationMNStateAbbreviationCd
ZIP55391ZIPCd

Business Officer BusinessOfficerGrp

FieldValueIRS element (for citing)
PersonFRED HERRONPersonNm
Person TitlePRESIDENTPersonTitleTxt
Phone7636148377PhoneNum
Signature2026-03-10SignatureDt
Discuss With Paid PreparerYes (1)DiscussWithPaidPreparerInd

Preparer Person PreparerPersonGrp

FieldValueIRS element (for citing)
Preparer PersonJASPER ASPLINPreparerPersonNm
PTINP01983591PTIN
Phone3202035500PhoneNum
Preparation2026-03-10PreparationDt
FieldValueIRS element (for citing)
Tax2025TaxYr
Build TS2025-03-06 01:10:19ZBuildTS

Form 990 IRS990

FieldValueIRS element (for citing)
Principal OfficerFRED HERRONPrincipalOfficerNm

US Address USAddress

FieldValueIRS element (for citing)
Address Line1PO BOX 591AddressLine1Txt
CityWAYZATACityNm
State AbbreviationMNStateAbbreviationCd
ZIP55391ZIPCd
FieldValueIRS element (for citing)
Gross Receipts$43,676GrossReceiptsAmt
Group Return For Affiliates0GroupReturnForAffiliatesInd
Organization501c3Yes (X)Organization501c3Ind
Website AddressN/AWebsiteAddressTxt
Type Of Organization CorpYes (X)TypeOfOrganizationCorpInd
Formation2004FormationYr
Legal Domicile StateMNLegalDomicileStateCd
Activity Or MissionPROVIDING SERVICE AND ASSISTANCE TO PEOPLE IN NEED WITHIN THE STATE OF MN AND THROUGHOUT THE WORLD.ActivityOrMissionDesc
Voting Members Governing Body11VotingMembersGoverningBodyCnt
Voting Members Independent11VotingMembersIndependentCnt
Total Employee0TotalEmployeeCnt
Total Volunteers15TotalVolunteersCnt
Total Gross UBI$0TotalGrossUBIAmt
Net Unrelated Bus Txbl Incm$0NetUnrelatedBusTxblIncmAmt
PY Contributions Grants$70,416PYContributionsGrantsAmt
CY Contributions Grants$40,683CYContributionsGrantsAmt
PY Program Service Revenue$0PYProgramServiceRevenueAmt
CY Program Service Revenue$0CYProgramServiceRevenueAmt
PY Investment Income$0PYInvestmentIncomeAmt
CY Investment Income$0CYInvestmentIncomeAmt
PY Other Revenue$0PYOtherRevenueAmt
CY Other Revenue$2,993CYOtherRevenueAmt
PY Total Revenue$70,416PYTotalRevenueAmt
CY Total Revenue$43,676CYTotalRevenueAmt
PY Grants And Similar Paid$87,718PYGrantsAndSimilarPaidAmt
CY Grants And Similar Paid$14,197CYGrantsAndSimilarPaidAmt
PY Benefits Paid To Members$0PYBenefitsPaidToMembersAmt
CY Benefits Paid To Members$0CYBenefitsPaidToMembersAmt
PY Salaries Comp Emp Bnft Paid$0PYSalariesCompEmpBnftPaidAmt
CY Salaries Comp Emp Bnft Paid$0CYSalariesCompEmpBnftPaidAmt
PY Total Prof Fndrsng Expns$0PYTotalProfFndrsngExpnsAmt
CY Total Prof Fndrsng Expns$0CYTotalProfFndrsngExpnsAmt
CY Total Fundraising Expense$0CYTotalFundraisingExpenseAmt
PY Other Expenses$2,456PYOtherExpensesAmt
CY Other Expenses$2,931CYOtherExpensesAmt
PY Total Expenses$90,174PYTotalExpensesAmt
CY Total Expenses$17,128CYTotalExpensesAmt
PY Revenues Less Expenses-$19,758PYRevenuesLessExpensesAmt
CY Revenues Less Expenses$26,548CYRevenuesLessExpensesAmt
Total Assets BOY$89,135TotalAssetsBOYAmt
Total Assets EOY$115,683TotalAssetsEOYAmt
Total Liabilities BOY$0TotalLiabilitiesBOYAmt
Total Liabilities EOY$0TotalLiabilitiesEOYAmt
Net Assets Or Fund Balances BOY$89,135NetAssetsOrFundBalancesBOYAmt
Net Assets Or Fund Balances EOY$115,683NetAssetsOrFundBalancesEOYAmt
MissionPROVIDING SERVICES AND ASSISTANCE TO PEOPLE WITHIN THE STATE OF MINNESOTA AND THROUGHOUT THE WORLD.MissionDesc
Significant New Program Srvc0SignificantNewProgramSrvcInd
Significant Change0SignificantChangeInd
Expense$14,197ExpenseAmt
Grant$14,197GrantAmt
DescFOUNDATION FOCUSES ON PROJECTS IN THE COMMUNITIES WHERE ROTARY CLUB SERVICES PROJECTS ARE ONGOING TO PROVIDE HANDS-ON ASSISTANCE TO PEOPLE IN NEED THROUGHOUT MINNESOTA. PROJECTS ORIGINATED IN MULTIPLE COMMUNITIES OF ROTARY DISTRICT 5950 COVERING WEST CENTRAL MINNESOTA.Desc
Total Program Service Expenses$14,197TotalProgramServiceExpensesAmt
Described In Section501c3Yes (1)DescribedInSection501c3Ind
Schedule B Required0ScheduleBRequiredInd
Political Campaign Acty0PoliticalCampaignActyInd
Lobbying Activities0LobbyingActivitiesInd
Subject To Proxy Tax0SubjectToProxyTaxInd
Donor Advised FundYes (1)DonorAdvisedFundInd
Conservation Easements0ConservationEasementsInd
Collections Of Art0CollectionsOfArtInd
Credit Counseling0CreditCounselingInd
Donor Rstr Or Quasi Endowments0DonorRstrOrQuasiEndowmentsInd
Report Land Building Equipment0ReportLandBuildingEquipmentInd
Report Investments Other Sec0ReportInvestmentsOtherSecInd
Report Program Related Invst0ReportProgramRelatedInvstInd
Report Other Assets0ReportOtherAssetsInd
Report Other Liabilities0ReportOtherLiabilitiesInd
Include FIN48 Footnote0IncludeFIN48FootnoteInd
Independent Audit Fincl Stmt0IndependentAuditFinclStmtInd
Consolidated Audit Fincl Stmt0ConsolidatedAuditFinclStmtInd
School Operating0SchoolOperatingInd
Foreign Office0ForeignOfficeInd
Foreign Activities0ForeignActivitiesInd
More Than5000 K To Org0MoreThan5000KToOrgInd
More Than5000 K To Individuals0MoreThan5000KToIndividualsInd
Professional Fundraising0ProfessionalFundraisingInd
Fundraising Activities0FundraisingActivitiesInd
Gaming Activities0GamingActivitiesInd
Operate Hospital0OperateHospitalInd
Grants To OrganizationsYes (1)GrantsToOrganizationsInd
Grants To Individuals0GrantsToIndividualsInd
Schedule J Required0ScheduleJRequiredInd
Tax Exempt Bonds0TaxExemptBondsInd
Engaged In Excess Benefit Trans0EngagedInExcessBenefitTransInd
PY Excess Benefit Trans0PYExcessBenefitTransInd
Loan Outstanding0LoanOutstandingInd
Grant To Related Person0GrantToRelatedPersonInd
Business Rln With Org Mem0BusinessRlnWithOrgMemInd
Business Rln With Fam Mem0BusinessRlnWithFamMemInd
Business Rln With35 Ctrl Ent0BusinessRlnWith35CtrlEntInd
Deductible Non Cash Contri0DeductibleNonCashContriInd
Deductible Art Contribution0DeductibleArtContributionInd
Terminate Operations0TerminateOperationsInd
Partial Liquidation0PartialLiquidationInd
Disregarded Entity0DisregardedEntityInd
Related Entity0RelatedEntityInd
Related Organization Ctrl Ent0RelatedOrganizationCtrlEntInd
Trnsfr Exmpt Non Chrtbl Rltd Org0TrnsfrExmptNonChrtblRltdOrgInd
Activities Conducted Prtshp0ActivitiesConductedPrtshpInd
Schedule O RequiredYes (1)ScheduleORequiredInd
IRP Document0IRPDocumentCnt
IRP Document W2 G0IRPDocumentW2GCnt
Employee0EmployeeCnt
Unrelated Bus Incm Over Limit0UnrelatedBusIncmOverLimitInd
Foreign Financial Account0ForeignFinancialAccountInd
Prohibited Tax Shelter Trans0ProhibitedTaxShelterTransInd
Taxable Party Notification0TaxablePartyNotificationInd
Nondeductible Contributions0NondeductibleContributionsInd
Quid Pro Quo Contributions0QuidProQuoContributionsInd
Form8282 Property Disposed Of0Form8282PropertyDisposedOfInd
Rcv Fnds To Pay Prsnl Bnft Cntrct0RcvFndsToPayPrsnlBnftCntrctInd
Pay Premiums Prsnl Bnft Cntrct0PayPremiumsPrsnlBnftCntrctInd
DAF Excess Business Holdings0DAFExcessBusinessHoldingsInd
Taxable Distributions0TaxableDistributionsInd
Distribution To Donor0DistributionToDonorInd
Indoor Tanning Services0IndoorTanningServicesInd
Subj To Tax Rmnrtn Ex Prcht Pymt0SubjToTaxRmnrtnExPrchtPymtInd
Subject To Excs Tax Net Invst Inc0SubjectToExcsTaxNetInvstIncInd
Info In Schedule O Part VIYes (X)InfoInScheduleOPartVIInd
Governing Body Voting Members11GoverningBodyVotingMembersCnt
Independent Voting Member11IndependentVotingMemberCnt
Family Or Business Rln0FamilyOrBusinessRlnInd
Delegation Of Mgmt Duties0DelegationOfMgmtDutiesInd
Change To Org Documents0ChangeToOrgDocumentsInd
Material Diversion Or Misuse0MaterialDiversionOrMisuseInd
Members Or StockholdersYes (1)MembersOrStockholdersInd
Election Of Board MembersYes (1)ElectionOfBoardMembersInd
Decisions Subject To Approva0DecisionsSubjectToApprovaInd
Minutes Of Governing BodyYes (1)MinutesOfGoverningBodyInd
Minutes Of Committees0MinutesOfCommitteesInd
Officer Mailing Address0OfficerMailingAddressInd
Local Chapters0LocalChaptersInd
Form990 Provided To Gvrn BodyYes (1)Form990ProvidedToGvrnBodyInd
Conflict Of Interest PolicyYes (1)ConflictOfInterestPolicyInd
Annual Disclosure Covered PrsnYes (1)AnnualDisclosureCoveredPrsnInd
Regular Monitoring EnfrcYes (1)RegularMonitoringEnfrcInd
Whistleblower Policy0WhistleblowerPolicyInd
Document Retention Policy0DocumentRetentionPolicyInd
Compensation Process CEO0CompensationProcessCEOInd
Compensation Process Other0CompensationProcessOtherInd
Investment In Joint Venture0InvestmentInJointVentureInd
States Where Copy Of Return Is FldMNStatesWhereCopyOfReturnIsFldCd
Upon RequestYes (X)UponRequestInd

Books In Care Of Detail BooksInCareOfDetail

FieldValueIRS element (for citing)
PersonGINA SMITHPersonNm
Phone7632258886PhoneNum

US Address USAddress

FieldValueIRS element (for citing)
Address Line1PO BOX 591AddressLine1Txt
CityWAYZATACityNm
State AbbreviationMNStateAbbreviationCd
ZIP55391ZIPCd
FieldValueIRS element (for citing)
No Listed Persons CompensatedYes (X)NoListedPersonsCompensatedInd

Form990 Part VII Section A Form990PartVIISectionAGrp (11 entries)

TitleTitleTxtAverage Hours Per WeekAverageHoursPerWeekRtIndividual Trustee Or DirectorIndividualTrusteeOrDirectorIndOfficerOfficerIndReportable Comp From OrgReportableCompFromOrgAmtReportable Comp From Rltd OrgReportableCompFromRltdOrgAmtOther CompensationOtherCompensationAmt
FRED HERRON
PRESIDENT5.00Yes (X)Yes (X)$0$0$0
GINA SMITH
TREASURER5.00Yes (X)Yes (X)$0$0$0
JOSH HILLGER
SECRETARY5.00Yes (X)Yes (X)$0$0$0
SHARON BLOODWORTH
DIRECTOR5.00Yes (X)$0$0$0
LEIF HAGDEN
DIRECTOR5.00Yes (X)$0$0$0
MARK SHOCKEY
DIRECTOR5.00Yes (X)$0$0$0
SAM THOMPSON
DIRECTOR5.00Yes (X)$0$0$0
ERIN BAGNIEWSKI
DIRECTOR5.00Yes (X)$0$0$0
LYNETTE REINI-GRANDELL
DIRECTOR5.00Yes (X)$0$0$0
BRAD SCHMIDT
DIRECTOR5.00Yes (X)$0$0$0
DON STILES
DIRECTOR5.00Yes (X)$0$0$0
FieldValueIRS element (for citing)
Former Ofcr Employees Listed0FormerOfcrEmployeesListedInd
Total Comp Greater Than150 K0TotalCompGreaterThan150KInd
Compensation From Other Srcs0CompensationFromOtherSrcsInd
All Other Contributions$40,683AllOtherContributionsAmt
Total Contributions$40,683TotalContributionsAmt

Other Revenue Misc OtherRevenueMiscGrp

FieldValueIRS element (for citing)
DescOTHER REVENUEDesc
Business900099BusinessCd
Total Revenue Column$2,993TotalRevenueColumnAmt
Exclusion$2,993ExclusionAmt
FieldValueIRS element (for citing)
Other Revenue Total$2,993OtherRevenueTotalAmt

Total Revenue TotalRevenueGrp

FieldValueIRS element (for citing)
Total Revenue Column$43,676TotalRevenueColumnAmt
Related Or Exempt Func Income$0RelatedOrExemptFuncIncomeAmt
Unrelated Business Revenue$0UnrelatedBusinessRevenueAmt
Exclusion$2,993ExclusionAmt

Grants To Domestic Orgs GrantsToDomesticOrgsGrp

FieldValueIRS element (for citing)
Total$14,197TotalAmt
Program Services$14,197ProgramServicesAmt

Office Expenses OfficeExpensesGrp

FieldValueIRS element (for citing)
Total$2,641TotalAmt
Management And General$2,641ManagementAndGeneralAmt

Insurance InsuranceGrp

FieldValueIRS element (for citing)
Total$290TotalAmt
Management And General$290ManagementAndGeneralAmt

Total Functional Expenses TotalFunctionalExpensesGrp

FieldValueIRS element (for citing)
Total$17,128TotalAmt
Program Services$14,197ProgramServicesAmt
Management And General$2,931ManagementAndGeneralAmt
Fundraising$0FundraisingAmt

Cash Non Interest Bearing CashNonInterestBearingGrp

FieldValueIRS element (for citing)
BOY$89,135BOYAmt
EOY$115,683EOYAmt

Total Assets TotalAssetsGrp

FieldValueIRS element (for citing)
BOY$89,135BOYAmt
EOY$115,683EOYAmt

Total Liabilities TotalLiabilitiesGrp

FieldValueIRS element (for citing)
BOY$0BOYAmt
EOY$0EOYAmt
FieldValueIRS element (for citing)
Org Does Not Follow FASB117Yes (X)OrgDoesNotFollowFASB117Ind

Cap Stk Tr Prin Current Funds CapStkTrPrinCurrentFundsGrp

FieldValueIRS element (for citing)
BOY$0BOYAmt
EOY$0EOYAmt

Pd In Cap Srpls Land Bldg Eqp Fund PdInCapSrplsLandBldgEqpFundGrp

FieldValueIRS element (for citing)
BOY$0BOYAmt
EOY$0EOYAmt

Rtn Earn Endowment Incm Oth Fnds RtnEarnEndowmentIncmOthFndsGrp

FieldValueIRS element (for citing)
BOY$89,135BOYAmt
EOY$115,683EOYAmt

Total Net Assets Fund Balance TotalNetAssetsFundBalanceGrp

FieldValueIRS element (for citing)
BOY$89,135BOYAmt
EOY$115,683EOYAmt

Tot Liab Net Assets Fund Balance TotLiabNetAssetsFundBalanceGrp

FieldValueIRS element (for citing)
BOY$89,135BOYAmt
EOY$115,683EOYAmt
FieldValueIRS element (for citing)
Reconcilation Revenue Expnss$26,548ReconcilationRevenueExpnssAmt
Other Changes In Net Assets$0OtherChangesInNetAssetsAmt
Method Of Accounting CashYes (X)MethodOfAccountingCashInd
Accountant Compile Or Review0AccountantCompileOrReviewInd
FS Audited0FSAuditedInd
Federal Grant Audit Required0FederalGrantAuditRequiredInd

Schedule A IRS990ScheduleA

FieldValueIRS element (for citing)
Public Organization170Yes (X)PublicOrganization170Ind

Gifts Grants Contri Rcvd170 GiftsGrantsContriRcvd170Grp

FieldValueIRS element (for citing)
Current Tax Year Minus4 Years$83,438CurrentTaxYearMinus4YearsAmt
Current Tax Year Minus3 Years$60,869CurrentTaxYearMinus3YearsAmt
Current Tax Year Minus2 Years$93,355CurrentTaxYearMinus2YearsAmt
Current Tax Year Minus1 Year$70,416CurrentTaxYearMinus1YearAmt
Current Tax Year$40,683CurrentTaxYearAmt
Total$348,761TotalAmt

Total Calendar Year170 TotalCalendarYear170Grp

FieldValueIRS element (for citing)
Current Tax Year Minus4 Years$83,438CurrentTaxYearMinus4YearsAmt
Current Tax Year Minus3 Years$60,869CurrentTaxYearMinus3YearsAmt
Current Tax Year Minus2 Years$93,355CurrentTaxYearMinus2YearsAmt
Current Tax Year Minus1 Year$70,416CurrentTaxYearMinus1YearAmt
Current Tax Year$40,683CurrentTaxYearAmt
Total$348,761TotalAmt
FieldValueIRS element (for citing)
Substantial Contributors Tot$97,762SubstantialContributorsTotAmt
Public Support Total170$250,999PublicSupportTotal170Amt

Other Income170 OtherIncome170Grp

FieldValueIRS element (for citing)
Current Tax Year$2,993CurrentTaxYearAmt
Total$2,993TotalAmt
FieldValueIRS element (for citing)
Total Support$351,754TotalSupportAmt
Public Support CY1700.71360PublicSupportCY170Pct
Public Support PY1700.74340PublicSupportPY170Pct
Thirty Thr Pct Suprt Tests CY170Yes (X)ThirtyThrPctSuprtTestsCY170Ind

Form990 Schedule A Part VI Form990ScheduleAPartVIGrp (2 entries)

Form And Line ReferenceFormAndLineReferenceDescExplanationExplanationTxt
SCHEDULE A, PART II, LINE 10, EXPLANATION OF OTHER INCOME:OTHER INCOME - 2025 AMOUNT: $ 2,993.
PART II, SHORT YEAR EXPLANATION:THE ORGANIZATION CHANGED ITS FISCAL YEAR-END FROM DECEMBER 31 TO JUNE 30, BEGINNING JANUARY 1, 2025. THE FORM 990 FOR 2025 HAS BEEN FILED AS A SHORT PERIOD FROM JANUARY 1, 2025 TO JUNE 30, 2025.

Schedule D IRS990ScheduleD

FieldValueIRS element (for citing)
Donor Advised Funds Held18DonorAdvisedFundsHeldCnt
Donor Advised Funds Contri$40,683DonorAdvisedFundsContriAmt
Donor Advised Funds Grants$14,197DonorAdvisedFundsGrantsAmt
Donor Advised Funds Vl EOY$109,382DonorAdvisedFundsVlEOYAmt
Disclosed Org Leg CtrlYes (1)DisclosedOrgLegCtrlInd
Disclosed For Charitable PrpsYes (1)DisclosedForCharitablePrpsInd
Total Book Value Land Buildings$0TotalBookValueLandBuildingsAmt

Schedule I IRS990ScheduleI

FieldValueIRS element (for citing)
Grant Records MaintainedYes (1)GrantRecordsMaintainedInd

Recipient Table RecipientTable

Recipient Business Name RecipientBusinessName

FieldValueIRS element (for citing)
Business Name Line1CARVER COUNTY VETERAN'S COUNCILBusinessNameLine1Txt

US Address USAddress

FieldValueIRS element (for citing)
Address Line1600 E 4TH STAddressLine1Txt
CityCHASKACityNm
State AbbreviationMNStateAbbreviationCd
ZIP55318ZIPCd
FieldValueIRS element (for citing)
Recipient EIN411762779RecipientEIN
IRC Section501(C)(3)IRCSectionDesc
Cash Grant$5,250CashGrantAmt
Non Cash Assistance$0NonCashAssistanceAmt
Purpose Of GrantOPERATIONAL SUPPORTPurposeOfGrantTxt
FieldValueIRS element (for citing)
Total501c3 Org1Total501c3OrgCnt
Total Other Org0TotalOtherOrgCnt

Supplemental Information Detail SupplementalInformationDetail

FieldValueIRS element (for citing)
Form And Line ReferencePART 1 LINE 2:FormAndLineReferenceDesc
ExplanationROTARY 5950 FOUNDATION ANALYZES AND MONITORS GLOBAL AND LOCAL SERVICE PROJECTS TO ENSURE FUNDS DISBURSED ARE ACHIEVING GOALS SET BY THE FOUNDATION BOARD.ExplanationTxt

Schedule O IRS990ScheduleO

Supplemental Information Detail SupplementalInformationDetail (6 entries)

Form And Line ReferenceFormAndLineReferenceDescExplanationExplanationTxt
FORM 990, PART VI, SECTION A, LINE 6CURRENT PRESIDENTS OF ROTARY DISTRICT 5950 CLUBS ARE VOTING MEMBERS OF THIS ORGANIZATION.
FORM 990, PART VI, SECTION A, LINE 7ACURRENT PRESIDENTS OF ROTARY DISTRICT 5950 CLUBS ANNUALLY ELECT MEMBERS TO THE BOARD OF ROTARY 5950 FOUNDATION.
FORM 990, PART VI, SECTION A, LINE 8BNO COMMITTEES HAVE AUTHORITY TO ACT ON BEHALF OF THE BOARD.
FORM 990, PART VI, SECTION B, LINE 11BTHE FORM 990 IS PREPARED BY THE ORGANIZATION'S PUBLIC ACCOUNTING FIRM. ONCE A DRAFT IS AVAILABLE, IT IS PROVIDED TO THE BOARD OF DIRECTORS FOR REVIEW, COMMENTS AND CORRECTIONS PRIOR TO FILING.
FORM 990, PART VI, SECTION B, LINE 12CCONFLICT OF INTEREST POLICY WAS ADOPTED IN OCTOBER 2014. EACH BOARD MEMBER IS REQUIRED TO AFFIRM ANNUALLY THAT THEY HAVE REVIEWED AND ARE IN COMPLIANCE WITH THE POLICY. THE POLICY IS AS FOLLOWS: 1. PURPOSE THE PURPOSE OF THE CONFLICTS OF INTEREST POLICY IS TO ENSURE THAT THE DELIBERATIONS AND DECISIONS OF THE FOUNDATION ARE MADE IN THE BEST INTERESTS OF THE FOUNDATION AND THOSE INDIVIDUALS IT SERVES, AND TO PROTECT THE INTERESTS OF THE FOUNDATION WHEN IT IS CONTEMPLATING ENTERING INTO A TRANSACTION, CONTRACT, OR ARRANGEMENT THAT MIGHT BENEFIT THE PRIVATE INTEREST OF AN INTERESTED DIRECTOR, OFFICER OR PERSON (AS DEFINED BELOW). AN INTERESTED DIRECTOR, OFFICER OR PERSON MAY NOT USE HIS OR HER POSITION WITH RESPECT TO THE FOUNDATION, OR CONFIDENTIAL CORPORATE INFORMATION OBTAINED BY HIM OR HER RELATING TO THE FOUNDATION, IN ORDER TO ACHIEVE A FINANCIAL BENEFIT FOR HIMSELF OR HERSELF OR FOR A THIRD PERSON, INCLUDING ANOTHER NONPROFIT OR CHARITABLE ORGANIZATION. THIS POLICY IS INTENDED TO SUPPLEMENT BUT NOT REPLACE ANY APPLICABLE LAWS GOVERNING CONFLICTS OF INTEREST IN NONPROFIT AND CHARITABLE FOUNDATIONS. 2. DEFINITIONS 2.1 COMPENSATION. "COMPENSATION" INCLUDES DIRECT AND INDIRECT REMUNERATION AS WELL AS GIFTS OR FAVORS THAT ARE SUBSTANTIAL IN NATURE. 2.2 FAMILY. THE "FAMILY" OF ANY INDIVIDUAL SHALL INCLUDE ONLY HIS OR HER SPOUSE; HIS OR HER SIBLINGS AND THEIR SPOUSES; HIS OR HER ANCESTORS; AND HIS OR HER DESCENDANTS AND THEIR SPOUSES. 2.3 FINANCIAL INTEREST. A PERSON HAS A "FINANCIAL INTEREST" IF THE PERSON HAS, DIRECTLY OR INDIRECTLY, THROUGH BUSINESS, INVESTMENT OR FAMILY: (A) AN EXISTING OR POTENTIAL OWNERSHIP OR INVESTMENT INTEREST IN ANY ENTITY WITH WHICH THE FOUNDATION HAS A TRANSACTION, CONTRACT, OR OTHER ARRANGEMENT, OR (B) A COMPENSATION ARRANGEMENT WITH THE FOUNDATION OR WITH ANY ENTITY OR INDIVIDUAL WITH WHICH THE FOUNDATION HAS A TRANSACTION, CONTRACT, OR OTHER ARRANGEMENT, OR (C) AN EXISTING OR POTENTIAL OWNERSHIP OR INVESTMENT INTEREST IN, OR COMPENSATION ARRANGEMENT WITH, ANY ENTITY OR INDIVIDUAL WITH WHICH THE FOUNDATION IS NEGOTIATING A TRANSACTION, CONTRACT, OR OTHER ARRANGEMENT, OR (D) AN EXISTING OR POTENTIAL OWNERSHIP OR INVESTMENT INTEREST IN, OR COMPENSATION ARRANGEMENT WITH, ANY ENTITY WHOSE BUSINESS OR OPERATION HAS BEEN OR WILL BE DIRECTLY AFFECTED BY A DECISION OR ACTION OF THE FOUNDATION. 2.4 INTERESTED DIRECTOR. "INTERESTED DIRECTOR" SHALL MEAN ANY DIRECTOR OF THE FOUNDATION WHO HAS A MATERIAL FINANCIAL INTEREST, AS DEFINED ABOVE, OR WHO SERVES AS A DIRECTOR OR OFFICER OF ANY ENTITY WITH WHICH THE FOUNDATION HAS A TRANSACTION, CONTRACT, OR OTHER ARRANGEMENT. 2.5 INTERESTED OFFICER. "INTERESTED OFFICER" SHALL MEAN ANY OFFICER WHO HAS A MATERIAL FINANCIAL INTEREST, AS DEFINED ABOVE, OR WHO SERVES AS A DIRECTOR OR OFFICER OF ANY ENTITY WITH WHICH THE FOUNDATION HAS A TRANSACTION, CONTRACT, OR OTHER ARRANGEMENT. FOR PURPOSES OF THIS POLICY, THE PRESIDENT OF THE FOUNDATION SHALL BE TREATED AS AN OFFICER. 2.6 INTERESTED PERSON. "INTERESTED PERSON" SHALL MEAN EITHER: (A) ANY PERSON CURRENTLY BEING COMPENSATED BY THE FOUNDATION FOR SERVICES RENDERED TO IT WITHIN THE PREVIOUS 12 MONTHS, WHETHER AS A FULL- OR PART-TIME EMPLOYEE, INDEPENDENT CONTRACTOR, OR OTHERWISE, OR (B) ANY PERSON WHOSE FAMILY MEMBER, AS DEFINED IN SECTION 2.2, IS CURRENTLY BEING COMPENSATED BY THE FOUNDATION FOR SERVICES RENDERED TO IT WITHIN THE PREVIOUS 12 MONTHS, WHETHER AS A FULL- OR PART-TIME EMPLOYEE, INDEPENDENT CONTRACTOR, OR OTHERWISE. 2.7 FOUNDATION: ROTARY 5950 FOUNDATION 3. COMMITTEE ON CONFLICTS OF INTEREST 3.1 TO ADMINISTER AND MONITOR COMPLIANCE WITH THIS POLICY, THE BOARD SHALL CREATE A COMMITTEE OF THE BOARD ON CONFLICTS OF INTEREST ("CONFLICTS COMMITTEE"), CONSISTING OF TWO NON-OFFICERS OF THE BOARD. 3.2 THE CONFLICTS COMMITTEE SHALL REQUIRE A STATEMENT FROM EACH DIRECTOR AND OFFICER NOT LESS FREQUENTLY THAN ONCE A YEAR SETTING FORTH ALL BUSINESS AND OTHER AFFILIATIONS WHICH RELATE IN ANY WAY TO THE BUSINESS AND OTHER ACTIVITIES OF THE FOUNDATION. 8. VIOLATIONS OF THE CONFLICTS OF INTEREST POLICY 8.1 IF THE CONFLICTS COMMITTEE HAS REASONABLE CAUSE TO BELIEVE THAT A DIRECTOR OR OFFICER HAS FAILED TO DISCLOSE AN ACTUAL OR POSSIBLE CONFLICT OF INTEREST, IT SHALL INFORM THE DIRECTOR OR OFFICER OF THE BASIS FOR SUCH BELIEF AND AFFORD THE DIRECTOR OR OFFICER AN OPPORTUNITY TO EXPLAIN THE ALLEGED FAILURE TO DISCLOSE. 8.2 IF, AFTER HEARING THE RESPONSE OF THE DIRECTOR OR OFFICER AND MAKING SUCH FURTHER INVESTIGATION AS MAY BE WARRANTED IN THE CIRCUMSTANCES, THE CONFLICTS COMMITTEE DETERMINES THAT THE MEMBER HAS IN FACT FAILED TO DISCLOSE AN ACTUAL OR POSSIBLE CONFLICT OF INTEREST, IT SHALL RECOMMEND TO THE BOARD OF DIRECTORS APPROPRIATE DISCIPLINARY AND CORRECTIVE ACTION. 8.3 THE VIOLATION OF THIS CONFLICTS OF INTEREST POLICY IS A SERIOUS MATTER AND MAY CONSTITUTE "CAUSE" FOR REMOVAL OR TERMINATION OF A DIRECTOR OR OFFICER, OR THE TERMINATION OF ANY CONTRACTUAL RELATIONSHIP THE FOUNDATION MAY HAVE WITH AN INTERESTED PERSON OR OTHER PARTY.
FORM 990, PART VI, SECTION C, LINE 19DOCUMENTS RELATED TO THE GOVERNANCE OF THE ENTITY AND COPIES OF FORM 990 ARE PROVIDED UPON WRITTEN REQUEST.

Comments

Anonymous: no account or email. Up to 2,000 characters, at most one link. Comments are checked automatically; some wait for review.