2024-11-14T14:27:28-05:00 2023-12-31 460257538 KETEL THORSTENSON LLP PO BOX 3140 RAPID CITY SD 577093140 990 2023-01-01 363608635 BLACK HILLS AREA COMMUNITY FOUNDATION BLAC 6057180112 803 ST JOSEPH STREET RAPID CITY SD 57701 CHRIS HUBER CEO 6057180112 2024-11-14 true true TRACI HANSON CPA P02055725 6053425630 2024-11-14 2023 2024-10-15 13:58:12Z CHRIS HUBER 803 ST JOSEPH ST RAPID CITY SD 57701 32102239 false X WWW.BHACF.ORG X 1987 SD EDUCATIONAL, SCIENTIFIC, LITERARY AND CHARITABLE SUPPORT IN BROAD AREAS INCLUDING DEVELOPMENT OF BOTH QUALITY AND QUANTITY OF ECONOMIC GROWTH IN THE RAPID CITY AND BLACK HILLS AREA 16 16 10 16 0 15107358 5383751 0 1813707 1941023 13162 17591 16934227 7342365 4165573 7387776 0 577361 732233 0 70407 537820 -811384 5280754 7308625 11653473 33740 53430728 56009000 15265919 13697043 38164809 42311957 EDUCATIONAL, SCIENTIFIC, LITERARY AND CHARITABLE SUPPORT IN BROAD AREAS INCLUDING DEVELOPMENT OF BOTH QUALITY AND QUANTITY OF ECONOMIC GROWTH IN THE RAPID CITY AND BLACK HILLS AREA false false 6899096 6899096 THE FOUNDATION PROVIDES EDUCATIONAL SCHOLARSHIPS AND DONATIONS TO VARIOUS COMMUNITY ORGANIZATIONS IN ORDER TO IMPROVE THE QUALITY OF LIFE OF THE PEOPLE IN THE BLACK HILLS REGION. 117885 THE FOUNDATION POOLS INVESTMENTS FOR VARIOUS COMMUNITY CHARITIES, IN ORDER TO INVEST THEIR FUNDS AT FAVORABLE INVESTMENT RATES WITH RELIABLE INVESTMENT VEHICLES. 7016981 true true false false false true false false true true true false true false true true true false false false false false false false false false false true true true false false false false false false false false true false false false false false false false false true 20 0 10 true false false false false false false false false false false false false false false false X 16 16 false false false false false false false true true false false true true true true true true true true false SD X BARB KEENE 6057180112 2443 FOUNDERS PARK DRIVE SUITE 102 RAPID CITY SD 57701 CHRIS HUBER CEO 0.00 X 0 0 0 ELIZABETH HAMBURG 2023 EXEC DI 50.00 X 165544 0 8277 STEVE HELMERS CHAIR 1.00 X X 0 0 0 TERRY HERMANN VICE CHAIR 1.00 X X 0 0 0 KELLY BUNTROCK TREASURER 1.00 X X 0 0 0 STEVE FLANERY SECRETARY 1.00 X X 0 0 0 PATRICK BURCHILL OFFICER 1.00 X X 0 0 0 URLA MARCUS DIRECTOR 1.00 X 0 0 0 ELIZABETH ZIEGLMEIER DIRECTOR 1.00 X 0 0 0 MAEGEN WALLUM DIRECTOR 1.00 X 0 0 0 RC SCULL DIRECTOR 1.00 X 0 0 0 WILLIE HUSTEAD DIRECTOR 1.00 X 0 0 0 BRAD BENHAM DIRECTOR 1.00 X 0 0 0 JOSEPH LUX DIRECTOR 1.00 X 0 0 0 KASSIE MCKIE SHIFFERMILLER DIRECTOR 1.00 X 0 0 0 DR ROGER KNUTSEN DIRECTOR 1.00 X 0 0 0 MIKE TENNYSON DIRECTOR 1.00 X 0 0 0 PRISCILLA ROMKEMA PHD DIRECTOR 1.00 X 0 0 0 165544 8277 1 false true false 5383751 454028 5383751 1230886 1230886 25457376 12635 24746636 13238 710740 -603 710137 710137 CASH VALUE LIFE INSURANCE 900099 17386 17386 MISCELLANEOUS REV 900099 205 205 17591 7342365 1958614 7328602 7328602 59174 59174 173821 112984 52146 8691 488962 342273 97793 48896 18643 15617 2094 932 50807 39629 8638 2540 81101 64880 12166 4055 117885 117885 436838 436838 11237 11237 40425 27726 12699 53547 53547 47985 32271 15714 26058 16677 6775 2606 26873 18811 5375 2687 969 485 484 24104 19765 4339 DISCOUNT ON PROGR. LOANS 1608909 1608909 PROVISION FOR CREDIT LOSS 275000 275000 SUPPLIES & SPEC EVENTS 150704 147690 3014 INCURRED ON BEHALF OF OTH -3713019 -3713019 7308625 7016981 221237 70407 1809245 4494382 790121 1534917 1869 500 44969 20862 680 24107 50685998 49152453 142815 802641 53430728 56009000 40141 29763 13194291 11824332 2000000 1199754 31487 643194 15265919 13697043 X 36554586 40807436 1610223 1504521 38164809 42311957 53430728 56009000 X 33740 3411500 723223 -21315 X false true X true false X 8806618 5176466 12588395 15107358 5383751 47062588 8806618 5176466 12588395 15107358 5383751 47062588 17588323 29474265 909946 734083 513920 743533 1230886 4132368 11154 11194 11665 12168 17591 63772 51258728 1943 0.57500 0.53950 X PART II, LINE 10 OTHER INCOME 46,181 RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 55 3321813 3058347 15242173 true true false true X 13175011 1491063 2286032 621361 16330745 13648969 2002066 -1920573 555451 13175011 11436752 1035015 1677362 500160 13648969 9862646 670740 1299453 396087 11436752 6969303 1723423 1513487 343567 9862646 0.97750 0.01490 0.00760 false false 44969 20862 24107 24107 TREASURY BONDS 21200747 F COMMON STOCK 16243678 F MUTUAL FUNDS 11708028 F 49152453 LEASE LIABILITY - OPERATING LEASE 643194 643194 X 11380926 3411500 171296 573650 4156446 7224480 117885 117885 7342365 7957001 171296 594965 766261 7190740 117885 117885 7308625 SCHEDULE D, PAGE 2, PART IV, LINE 2B THE FOUNDATION ACTS AS AN AGENT FOR DONORS BY RECEIVING ASSETS UNDER AGREEMENTS IN WHICH THE DONOR HAS NAMED ITSELF AS THE BENEFICIARY. FOR FINANCIAL STATEMENT PURPOSES, THE FOUNDATION HAS RECOGNIZED A LIABILITY TO THE DONOR. THE DONORS INTEND TO ENDOW SUCH FUNDS WITH THE FOUNDATION, AND EXPECT THAT CERTAIN PRINCIPAL AND INVESTMENT GAIN OR LOSS WILL BE RETURNED. SCHEDULE D, PAGE 3, PART X THE FOUNDATION IS A NOT-FOR-PROFIT ORGANIZATION EXEMPT FROM INCOME TAXES UNDER SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE. THE FOUNDATION IS NOT CONSIDERED A PRIVATE FOUNDATION WITHIN THE MEANING OF SECTION 509(A)(1) AND QUALIFES FOR DEDUCTIBLE CONTRIBUTIONS UNDER SECTION 170(B)(1)(A)(VI). THE FOUNDATION IS NOT LIABLE FOR INCOME TAXES IF IT OPERATES WITHIN THE CONFINES OF ITS EXEMPT STATUS. HOWEVER, THE FOUNDATION MAY BE RESPONSIBLE FOR TAXES ON UNRELATED BUSINESS ACTIVITIES. IN THE EVENT OF AN EXAMINATION OF THE INCOME TAX RETURNS BY TAXING AUTHORITIES, THE TAX LIABILITY OF THE FOUNDATION COULD BE CHANGED IF AN ADJUSTMENT IN THE TAX-EXEMPT PURPOSE IS DETERMINED OR THE TAXING AUTHORITIES DETERMINE THE FOUNDATION HAS ENGAGED IN UNRELATED BUSINESS ACTIVITES. THERE WERE NO UNRELATED BUSINESS ACTIVITIES FOR THE YEAR ENDED DECEMBER 31, 2023. AS OF DECEMBER 31, 2023, THE FOUNDATION HAD NO UNCERTAIN TAX POSITIONS THAT QUALIFY FOR EITHER RECOGNITION OR DISCLOSURE IN THE FINANCIAL STATEMENTS. MANAGEMENT CONTINUALLY EVALUATES EXPIRING STATUTES OF LIMITATION, AUDITS, PROPOSED SETTLEMENTS, CHANGES IN THE TAX LAW AND NEW AUTHORITATIVE RULINGS. THE FOUNDATION BELIEVES ITS ESTIMATES ARE APPROPRIATE BASED ON CURRENT FACTS AND CIRCUMSTANCES. INTEREST AND PENALTIES ASSESSED BY INCOME TAXING AUTHORITIES, IF ANY, ARE INCLUDED IN INTEREST EXPENSE. SCHEDULE D, PAGE 4, PART XI, LINE 2D FUND MANAGEMENT FEES 573,650 SCHEDULE D, PAGE 4, PART XII, LINE 2D FUND MANAGEMENT FEES 550,992 INTERFUND CLASSIFICATIONS 43,973 true ABBOTT HOUSE 909 COURT MERRILL MITCHELL SD 57301 460229822 3 7461 COMMUNITY WELFARE ABSAROKA BEARTOOTH WILDERNESS FOUND PO BOX 392 RED LODGE MT 59068 320320146 3 7000 EDUCATION ABSAROKEE COMMUNITY FOUNDATION PO BOX 72 ABSAROKEE MT 59001 731658638 3 7000 EDUCATION AMERICAN RED CROSS 1221 N MAPLE AVENUE RAPID CITY SD 57701 530196605 3 29350 COMMUNITY WELFARE BATTLE MOUNTAIN HUMANE SOCIETY 14109 SD HWY 40 HERMOSA SD 57744 205814735 3 7500 COMMUNITY WELFARE BIG BROTHERS BIG SISTERS 425 KANSAS CITY ST RAPID CITY SD 57701 460282706 3 63545 COMMUNITY WELFARE BLACK HILLS AREA HABITAT FOR HUMANI 610 E OMAHA ST RAPID CITY SD 57701 460410933 3 7600 COMMUNITY WELFARE BLACK HILLS BADGES FOR HOPE PO BOX 3842 RAPID CITY SD 57709 825471458 3 7000 COMMUNITY WELFARE BLACK HILLS COMMUNITY THEATRE PO BOX 4007 RAPID CITY SD 57709 510172470 3 7158 COMMUNITY WELFARE BLACK HILLS PLAYHOUSE PO BOX 2513 RAPID CITY SD 57709 460215866 3 8634 EDUCATION BLACK HILLS STATE UNIVERSITY FOUNDA 1200 UNIVERSITY STREET UNIT 9506 SPEARFISH SD 57783 237428348 3 27384 EDUCATION BLACK HILLS WORKS 3650 RANGE ROAD RAPID CITY SD 57702 460341382 3 5049 COMMUNITY WELFARE BLACK HILLS WORKS FOUNDATION 3650 RANGE ROAD RAPID CITY SD 57702 460363653 3 46294 COMMUNITY WELFARE BOYS AND GIRLS CLUB OF THE BLACK HI PO BOX 677 HILL CITY SD 57745 460332124 3 21000 COMMUNITY WELFARE CALVARY LUTHERAN CHURCH 5311 SHERIDAN LAKE ROAD RAPID CITY SD 57702 460277588 3 20200 COMMUNITY WELFARE CANYON LAKE UNITED METHODIST CHURCH 3500 CANYON LAKE DRIVE RAPID CITY SD 57702 466003848 3 15500 COMMUNITY WELFARE CASA 7TH CIRCUIT 2650 JACKSON BLVD RAPID CITY SD 57702 460399483 3 10000 COMMUNITY WELFARE CASTING VETS 1122 JOPLIN CT HOT SPRINGS SD 57747 824080456 3 11000 COMMUNITY WELFARE CHAMBER MUSIC FESTIVAL OF THE BH 3213 W MAIN ST 209 RAPID CITY SD 57702 274374146 3 8279 COMMUNITY WELFARE CHILDRENS HOME FOUNDATION PO BOX 1749 SIOUX FALLS SD 57101 460366277 3 97907 COMMUNITY WELFARE CITY OF RAPID CITY 300 6TH STREET RAPID CITY SD 57701 466000380 3 6501 COMMUNITY WELFARE COMMONBOND COMMUNITIES 1080 MONTREAL AVE ST PAUL MN 55116 411260469 3 55701 COMMUNITY WELFARE CORNERSTONE RESCUE MISSION PO BOX 2188 RAPID CITY SD 57709 363296431 3 16500 COMMUNITY WELFARE DIVINE SHERPHERD LUTHERAN CHURCH 7308 WEDGEWOOD DR BLACK HAWK SD 57718 460396665 3 7100 COMMUNITY WELFARE ELEVATE RAPID CITY 18 EAST MAIN ST RAPID CITY SD 57701 460118545 6 49663 COMMUNITY WELFARE EMMANUEL EPISCOPAL CHURCH 717 QUINCY ST RAPID CITY SD 57701 466003974 3 39000 COMMUNITY WELFARE FEEDING SOUTH DAKOTA 3511 N 1ST AVE SIOUX FALLS SD 57104 363293534 3 15800 COMMUNITY WELFARE FORK REAL COMMUNITY CAFE 324 ST JOSEPH STREET RAPID CITY SD 57702 813611770 3 11200 COMMUNITY WELFARE FRIENDS OF SDPB PO BOX 5000 VERMILLION SD 57069 237310698 3 19114 COMMUNITY WELFARE HAAKON SCHOOL DISTRICT NO 27-1 PO BOX 730 PHILIP SD 57567 460309945 GOV 9300 COMMUNITY WELFARE HUMANE SOCIETY OF CUSTER AREA 707 LINCOLN ST CUSTER SD 57730 460431701 3 7500 COMMUNITY WELFARE HUMANE SOCIETY OF THE BLACK HILLS 1820 E ST PATRICK ST RAPID CITY SD 57701 460396967 3 26705 COMMUNITY WELFARE IZAAK WALTON LEAGUE RC CHAPTER PO BOX 969 RAPID CITY SD 57709 466014969 3 8000 COMMUNITY WELFARE LITERACY COUNCIL OF THE BLACK HILLS PO BOX 9183 RAPID CITY SD 57709 710583801 3 5500 COMMUNITY WELFARE LORD OF LIFE LUTHERAN CHURCH 2000 LANCER DR RAPID CITY SD 57703 460379159 3 23000 COMMUNITY WELFARE MAKE A WISH SOUTH DAKOTA 1400 W 17TH STREET SIOUX FALLS SD 57104 460375953 3 10000 COMMUNITY WELFARE MAMMOTH SITE OF HOT SPRINGS 1800 HWY 18 TRUCK RT HOT SPRINGS SD 57747 460337824 3 38500 COMMUNITY WELFARE MEADE COUNTY SCHOOL DISTRICT 1230 DOUGLAS ST STURGIS SD 57785 460307398 GOV 13474 EDUCATION MEADE COUNTY SENIOR CITIZENS CENTER 919 HARLEY DAVIDSON WAY STURGIS SD 57785 237297056 3 6000 COMMUNITY WELFARE MIDTOWN CHURCH 4719 WILLIAMS ST RAPID CITY SD 57703 812678771 3 6000 COMMUNITY WELFARE NATURE CONSERVANCY INC PO BOX 234 RAPID CITY SD 57709 843404766 3 16125 COMMUNITY WELFARE ONEHEART 217 KANSAS CITY STREET STE 100 RAPID CITY SD 57701 834200317 3 3846146 COMMUNITY WELFARE OPERATION SMILE 3641 FACULTY BLVD VIRGINIA BEACH VA 23453 541460147 3 25000 COMMUNITY WELFARE PEACE LUTHERAN CHURCH 219 E SAINT ANNE ST RAPID CITY SD 57701 460310227 3 5720 COMMUNITY WELFARE PENNINGTON COUNTY SHERIFFS OFFICE 300 KANSAS CITY ST STE 100 RAPID CITY SD 57701 883862288 3 11000 COMMUNITY WELFARE PHILIP HEALTH SERVICES PO BOX 790 PHILIP SD 57567 460361016 3 9300 COMMUNITY WELFARE RAPID CITY AREA SCHOOLS 625 9TH STREET STE 620 RAPID CITY SD 57701 466002688 GOV 17550 EDUCATION RAPID CITY ARTS COUNCIL 713 7TH STREET RAPID CITY SD 57701 237176252 3 19487 EDUCATION RAPID CITY CLUB FOR BOYS INC 320 N 4TH ST RAPID CITY SD 57709 460277778 3 16520 COMMUNITY WELFARE RAPID CITY LIBRARY FOUNDATION PO BOX 1015 RAPID CITY SD 57709 460442680 3 89723 EDUCATION RURAL AMERICA INITIATIVES 919 MAIN ST 101 RAPID CITY SD 57701 460390273 3 1034838 COMMUNITY WELFARE RUTHERFORD COUNTY CHRISTIAN RELIEF 342 ALDEN COVE SMYRNA TN 37167 203839755 3 10000 COMMUNITY WELFARE SALVATION ARMY PO BOX 3269 RAPID CITY SD 57709 222406433 3 29650 COMMUNITY WELFARE SD ASSOC FOR EDUCATION OF YOUNG CHI PO BOX 44 BOX ELDER SD 57719 460371120 3 22200 EDUCATION SD PARKS & WILDLIFE FOUNDATION 523 EAST CAPITOL PIERRE SD 57501 460387968 3 61000 COMMUNITY WELFARE SDSM&T FOUNDATION 306 EAST SAINT JOSEPH STREET RAPID CITY SD 57701 466011771 3 31574 COMMUNITY WELFARE SEQUEL INC 318 MOUNT RUSHMORE RD STE C RAPID CITY SD 57701 854297434 3 230000 COMMUNITY WELFARE SHRINERS HOSPITAL FOR CHILDREN PO BOX 31356 TAMPA FL 33631 042121377 3 10000 COMMUNITY WELFARE SOUTH DAKOTA SPECIAL OLYMPICS PO BOX 1283 SIOUX FALLS SD 57101 460359776 3 10000 COMMUNITY WELFARE ST JUDE CHILDRENS RESEARCH HOSPITAL 501 ST JUDE PLACE MEMPHIS TN 38105 620646012 3 10000 COMMUNITY WELFARE ST OLAF COLLEGE 1520 ST OLAF AVENUE NORTHFIELD MN 55057 410693979 3 20000 EDUCTION STORYBOOK ISLAND INC PO BOX 9196 RAPID CITY SD 57709 460260003 3 241368 COMMUNITY WELFARE STURGIS UNITED METHODIST CHURCH PO BOX 757 STURGIS SD 57785 460311215 3 18000 GENERAL SUPPORT SUNCATCHER THERAPEUTIC RIDING ACADE PO BOX 3975 RAPID CITY SD 57709 460461253 3 10000 COMMUNITY WELFARE THE HOPE CENTER 615 KANSAS CITY STREET RAPID CITY SD 57701 464167577 3 197500 COMMUNITY WELFARE THE MATTHEWS OPERA HOUSE 612 N MAIN ST SPEARFISH SD 57783 363652212 3 5500 COMMUNITY WELFARE UNITED WAY OF THE BLACK HILLS 621 6TH STREET SUITE 100 RAPID CITY SD 57701 460259754 3 30200 COMMUNITY WELFARE UNIVERSITY OF NEBRASKA FOUNDATION PO BOX 82555 LINCOLN NE 68501 470379839 3 20000 EDUCATION UNIVERSITY OF SOUTH DAKOTA FOUNDATI 1110 N DAKOTA VERMILLION SD 57069 466018891 3 9000 EDUCATION WAVI 527 QUINCY STREET RAPID CITY SD 57701 460355127 3 73300 COMMUNITY WELFARE WELLFULLY 3402 COTTONWOOD STREET RAPID CITY SD 57702 460414463 3 10900 COMMUNITY WELFARE WESTERN SD SENIOR SERVICES 1621 SHERIDAN LAKE ROAD STE C RAPID CITY SD 57702 460362991 3 20500 COMMUNITY WELFARE WORLD VISION INC 4325 UPTON AVE MINNEAPOLIS MN 55410 951922279 3 25000 COMMUNITY WELFARE YMCA OF RAPID CITY 815 KANSAS CITY ST RAPID CITY SD 57701 460227218 3 9200 COMMUNITY WELFARE YOUTH AND FAMILY SERVICES PO BOX 2813 RAPID CITY SD 577092813 466017085 3 64273 COMMUNITY WELFARE 203 SCHOLARSHIPS 37 59174 SCHEDULE I, PAGE 1, PART I, LINE 2 TO ENSURE THAT FUNDS ARE USED TO MEET THE COMMUNITY'S CHARITABLE NEEDS: 1) RECOMMENDATIONS OF GRANTEES BY DONOR ADVISORS OR EXPENDITURES BY FISCAL SPONSORSHIP CONTACTS ARE REQUIRED IN WRITING. 2) RECOMMENDATIONS FOR DISTRIBUTIONS FROM DONOR ADVISED FUNDS ARE REVIEWED BY STAFF TO ASSURE COMPLIANCE WITH ALL REQUIREMENTS AND REGULATIONS. STAFF WILL VERIFY THE STATUS OF THE RECOMMENDED RECIPIENT USING A REALTIME DATABASE SUCH AS GUIDESTAR. A DATED COPY OF THE DONOR ADVISOR'S WRITTEN RECOMMENDATION AND SUPPORTING DOCUMENTATION REGARDING THE ORGANIZATION'S STATUS WILL BE PLACED IN THE FUND'S PERMANENT FILE. 3) AS NEEDED, RECOMMENDATIONS FOR GRANT DISTRIBUTIONS WILL BE BROUGHT TO THE EXECUTIVE COMMITTEE OR BOARD OF DIRECTORS FOR APPROVAL. 4) STAFF SHALL MAINTAIN ON FILE ANNUAL REPORTS, NEWSLETTERS, AND IRS LETTERS DETERMINING TAX EXEMPT STATUS ABOUT NONPROFIT ORGANIZATIONS WHOSE MISSIONS ARE CONSISTENT WITH THE GOALS OF THE FOUNDATION. 5) GRANTEES RECEIVING COMPETITIVE GRANT AWARDS ARE NOTIFIED IN WRITING THE PURPOSE OF THE GRANT FUNDS AND TIMEFRAME WHEN THE MONEY IS DISTRIBUTED. A GRANT REPORT AT THE CONCLUSION OF THE GRANT PERIOD IS REQUIRED TO VERIFY COMPLIANCE WITH THE RESTRICTIONS AS COMMUNICATED. THE FOUNDATION MAINTAINS AND OPERATES UNDER A STRICT WRITTEN POLICY FOR AWARDING SCHOLARSHIPS, FELLOWSHIPS, AND OTHER GRANTS TO INDIVIDUALS. SUCH POLICY PROVIDES FOR COMPLETE CONTROL OF THE NOMINATION AND AWARD PROCESS BY THE FOUNDATION. SUCH PROCESS REQUIRES THAT DOCUMENTATION BE MAINTAINED FOR THREE YEARS FOLLOWING THE DATE OF THE AWARD. X X X false false false false false false false false false ELIZABETH HAMBURG 2023 EXEC DIRECTOR 165544 8277 173821 X 16 429028 FAIR MARKET VALUE X EQUIPMENT 1 25000 FAIR MARKET VALUE false true false FORM 990, PAGE 6, PART VI, LINE 11B ORGANIZATION'S PROCEDURES USED TO REVIEW FORM 990 THE BOARD REVIEWS THE 990 PRIOR TO FILING. FORM 990, PAGE 6, PART VI, LINE 12C PERSONS COVERED UNDER THE POLICY INCLUDE ANY DIRECTOR, PRINCIPAL OFFICER, OR MEMBER OF A COMMITTEE WITH GOVERNING BOARD DELEGATED POWERS. ALL INTERESTED PERSONS HAVE A DUTY TO DISCLOSE ANY POTENTIAL CONFLICTS OF INTEREST. THE REMAINING BOARD OR COMMITTEE MEMBERS THEN DECIDE IF A CONFLICT OF INTEREST EXISTS. THE GOVERNING BOARD OR COMMITTEE SHALL DETERMINE BY MAJORITY VOTE OF THE DISINTERESTED DIRECTORS WHETHER THE TRANSACTION IS IN THE ORGANIZATION'S BEST INTEREST AND WHETHER IT IS FAIR AND REASONABLE. IF THE GOVERNING BOARD HAS REASONABLE CAUSE TO BELIEVE SOMEONE HAS FAILED TO DISCLOSE AN ACTUAL OR POSSIBLE CONFLICT OF INTEREST, SAID PERSON HAS OPPORTUNITY TO EXPLAIN AND APPROPRIATE DISCIPLINARY/CORRECTIVE ACTION IS TAKEN. THE ABOVE SHALL BE DOCUMENTED IN THE BOARD MINUTES. ANNUALLY ALL PERSONS COVERED BY THE POLICY SHALL SIGN A STATEMENT WHICH AFFIRMS THEY HAVE RECEIVED, READ, AND AGREE WITH THE POLICY AND HAVE DISCLOSED ALL KNOWN ACTUAL AND POSSIBLE CONFLICTS. TO ENSURE THE ORGANIZATION OPERATES IN A MANNER CONSISTENT WITH CHARITABLE PURPOSES AND DOES NOT ENGAGE IN ACTIVITIES THAT COULD JEOPARDIZE TAX-EXEMPT STATUS, PERIODIC REVIEWS ARE CONDUCTED. FORM 990, PAGE 6, PART VI, LINE 15A THE FOUNDATION EMPLOYS A CEO. NO OTHER OFFICERS OR KEY EMPLOYEES EXIST. ANNUALLY, THE CEO PROVIDES A SUMMARY MEMO TO THE CHAIRMAN REVIEWING PROGRESS TOWARD GOALS. THE CHAIRMAN REVIEWS, CONSULTS WITH THE EXECUTIVE COMMITTEE ACTING AS A PERSONNEL COMMITTEE, AND PROVIDES BOTH VERBAL AND WRITTEN FEEDBACK. AFTER REVIEWING COMPARABLE SALARY DATA AS RECEIVED FROM PEER ORGANIZATIONS, THE PERSONNEL COMMITTEE MAY THEN RECOMMEND A RAISE, WHICH IS SHARED WITH THE BOARD OF DIRECTORS. THE RECOMMENDATION IS RECORDED IN THE BOARD MINUTES. FORM 990, PAGE 6, PART VI, LINE 15B SAME PERSONS AS 15A. FORM 990, PAGE 6, PART VI, LINE 19 GOVERNING DOCUMENTS ARE MADE AVAILABLE TO THE PUBLIC UPON REQUEST, AS STATED IN THE FOUNDATION'S ANNUAL REPORT THAT IS POSTED ON THE FOUNDATION'S WEBSITE. FORM 990, PART XI, LINE 9 FUND MANAGEMENT FEES 573,650 FUND MANAGEMENT FEES -550,992 INTERFUND CLASSIFICATIONS -43,973 TOTAL -21,315