| Form 990, Part VI, Line 8b Documentation of meetings held by committees of governing body |
THERE ARE NO COMMITTEES WITH THE AUTHORITY TO ACT ON BEHALF OF THE GOVERNING BODY. |
| Form 990, Part VI, Line 11b Review of form 990 by governing body |
The form 990 is reviewed by management and the audit committee, then placed on a secured site for review by the board. Any questions asked by the governing board are answered prior to filing. |
| Form 990, Part VI, Line 12c Conflict of interest policy |
In connection with any actual or possible conflict of interest, an interested person must disclose to the governing board on an annual basis through the 990 and conflict of interest questionnaires, provided by the senior vice president of legal affairs, the interested person must disclose a list of offices and directorships he or she holds in charitable and business organizations and to identify his or her place of employment or principal business activity as well as the organizations, corporations and other businesses with which each person and his or her spouse or other relative may be affiliated. After disclosure by the interested person of all related financial interests and all related material facts, the board will discuss and make a determination in a conflict of interest exists. In the event the organization is considering a procurement of services from an organization in which an interested person is an officer, director, or is employed, the interested person shall so inform the governing board of the conflict. The interested person may be present during the deliberation to answer questions, but must recuse himself /herself from voting on the procurement. |
| Form 990, Part VI, Line 15a Process to establish compensation of top management official |
The Board of Directors of Silicon Valley Community Foundation exercises complete oversight of executive compensation and ultimately approves compensation for the CEO and CFO. The Board engaged with third-party compensation consultants to provide independent compensation studies of salaries of comparable positions of similar complexity at comparable organizations. All discussions and decisions related to executive compensation are recorded in a timely manner in meeting minutes of the Board of Directors, signed by the corporate secretary. The Board of Directors completes a performance review for the CEO annually, which includes a review of compensation and votes to make any adjustments. Performance reviews are documented in writing. |
| Form 990, Part VI, Line 15b Process to establish compensation of other employees |
The Talent and Culture committee of the Board of Directors of Silicon Valley Community Foundation exercises oversight of the Foundation's compensation methodology and process for all employees including key employees. The independent Board of Directors approves compensation as a component of annual budget. The foundation engages independent, third-party consultants to conduct a compensation study periodically which evaluates data regarding best practices for recruitment, retention, compensation, and other incentives. The study includes market rate comparables for comparable positions across other similarly situated community foundations and private foundations. All discussion and recommendations to management related to employee compensation are recorded in a timely manner in meeting minutes of the Talent and Culture committee, signed by its committee chair. All employees are subject to a performance review annually. Performance reviews are documented in writing. |
| Form 990, Part VI, Line 19 Required documents available to the public |
All requests for information will be submitted to the EVP of Finance and Operations and SVP of Finance. The requestor will be contacted within 24 hours to obtain the following information: contact information - Name, address, email, and phone number. Documents nor provided on the website, will be available in the office or provided electronically via an emailed link to the document in box, a secure online content management system, Audited financial statements for current year- posted to website annually after approval by board of directors. |
| Form 990, Part XI, Line 9 Other changes in net assets or fund balances |
Change in value of split interest agreements - -1120239; Present value adjustment for grants - 9017759; Grant Cancellations not offset - 13452814; |
Attach to Form 990 or 990-EZ.