2017-05-09T14:45:35-05:00 2016-06-30 521392008 GELMAN ROSENBERG & FREEDMAN 4550 MONTGOMERY AVE SUITE 650N BETHESDA MD 208142930 990 2015-07-01 526065757 CHESAPEAKE BAY FOUNDATION INC CHES 4102688816 6 HERNDON AVENUE ANNAPOLIS MD 214034503 William C Baker President 4102688816 2017-05-09 1 3019519090 2015 2021-01-29 14:40:06Z William C Baker 6 HERNDON AVENUE ANNAPOLIS MD 214034503 39943710 0 X WWW.CBF.ORG X 1966 MD The Chesapeake Bay Foundation's (CBF) mission is to Save the Bay. See Schedule O. 30 29 260 52876 5519 3180 19527320 22603162 2351771 1719585 4863853 1644133 123757 104536 26866701 26071416 559480 528845 0 0 13928130 14613465 327038 358064 2894618 9936622 9666369 24751270 25166743 2115431 904673 110271017 106570069 14272384 11469484 95998633 95100585 X The Chesapeake Bay Foundation's (CBF) mission, simply stated, is to Save the Bay. See Schedule O for Continuation (page 51) 0 0 5984157 1093983 Education Led over 35,000 students, teachers, and adults in hands-on, on-the-water, environmental education experiences. Provided professional learning courses to over 400 teachers from Maryland, Virginia, Pennsylvania, and the District of Columbia. Known as Chesapeake Classrooms, these courses provide teachers first-hand experience on local waterways and help them to develop lesson plans that incorporate Bay studies. See Schedule O for Continuation (page 52) 11060755 528845 625602 Environmental Protection and Restoration (EPR)Raised and planted more than 46 million juvenile oysters and deployed 270 reef balls (artificial habitat for oysters). Situated on protected reefs, these oysters will play a critical role in filtering pollution from waterways. Collected 1,030 bushels of oyster shell through the Save Oyster Shells program. Gathered from restaurants and individuals, the shells serve as valuable habitat for juvenile oysters in restoration projects. See Schedule O for Continuation (page 53) 2913217 CommunicationsCBF explained the 2010 federal/state plan and defended it from opposition attacks in the press, in digital media, and through the development and distribution of reports and other collateral materials.CBF was quoted or named in 1,656 print, broadcast, and online news stories or 4.5 times per day. CBF produced over 70 publications including the Save the Bay magazine, annual report, brochures, and informational materials. See Schedule O for Continuation (page 56) 19958129 1 1 0 1 0 0 1 1 0 1 1 1 0 0 1 1 1 0 0 0 0 0 0 1 1 0 0 1 1 1 1 0 0 0 0 0 0 0 0 1 1 1 0 0 0 0 0 0 0 0 1 X 164 0 1 260 1 1 1 1 VI 0 0 0 1 1 0 0 0 0 X 30 29 1 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 AL AR CA CT FL GA HI IL KS KY MD MA MI MN MS NH NJ NM NY NC OR PA RI SC TN UT VA WV WI X X Kenneth A Troshinsky 4102688816 6 HERNDON AVENUE ANNAPOLIS MD 214034503 William C Baker President 40.00 X X 201746 0 28576 Alan R Griffith Chair (until 01/16) 1.00 X X 0 0 0 Harry T Lester Chair (beginning 01/16) 1.00 X X 0 0 0 Jane P Batten Vice Chairman 1.00 X X 0 0 0 Carolyn Groobey Vice Chairman 1.00 X X 0 0 0 Susan Aplin Trustee 1.00 X 0 0 0 W Russell G Byers Jr Trustee 1.00 X 0 0 0 D Keith Campbell Trustee 1.00 X 0 0 0 Michael J Chiaramonte Trustee 1.00 X 0 0 0 Catherine Cullen Trustee 1.00 X 0 0 0 Thomas M Davis III Trustee 1.00 X 0 0 0 Lauri Fitz-Pegado Trustee 1.00 X 0 0 0 Richard L Franyo Trustee (until 01/16) 1.00 X 0 0 0 Harry Gruner Trustee (beginning 01/16) 1.00 X 0 0 0 Ann Fritz Hackett Trustee 1.00 X 0 0 0 Michael J Hanley Trustee 1.00 X 0 0 0 Christian Hodges Trustee 1.00 X 0 0 0 Jeanne Trimble Hoffman Trustee (beginning 01/16) 1.00 X 0 0 0 Robert A Kinsley Trustee 1.00 X 0 0 0 Burks B Lapham Trustee 1.00 X 0 0 0 Katie Z Leavy Trustee 1.00 X 0 0 0 Byron F Marchant Trustee 1.00 X 0 0 0 H Turney McKnight Trustee (until 01/16) 1.00 X 0 0 0 Pamela Murphy Trustee 1.00 X 0 0 0 Mark Ordan Trustee (beginning 01/16) 1.00 X 0 0 0 Arnold I Richman Trustee 1.00 X 0 0 0 Truman T Semans Trustee (until 01/16) 1.00 X 0 0 0 Anne B Shumadine Trustee 1.00 X 0 0 0 J Sedwick Sollers III Trustee 1.00 X 0 0 0 Rt Rev Eugene Taylor Sutton Trustee 1.00 X 0 0 0 Sandra Taylor Trustee 1.00 X 0 0 0 Anthony A Williams Trustee (until 01/16) 1.00 X 0 0 0 Susan P Wilmerding Trustee 1.00 X 0 0 0 Peter L Woicke Trustee 1.00 X 0 0 0 Alan L Wurtzel Trustee 1.00 X 0 0 0 Charles D Foster Jr Assistant Treasurer/Chief of Staff 40.00 X 106830 0 24237 Fay R Nance Treasurer/Chief Financial Officer 40.00 X 164244 0 10820 Mary Tod Winchester Secretary/VP-Administration 40.00 X 129196 0 28159 Thomas W Ackerman Vice President-Education 40.00 X 129998 0 6696 Elizabeth Buckman Vice President-Communications 40.00 X 135359 0 21262 Kimberly L Coble VP-Environmental Protection Resource 40.00 X 143266 0 9466 Jon A Mueller Vice President of Litigation 40.00 X 161317 0 10601 Katharene P Snavely Vice President of Development 40.00 X 138368 0 13480 1310324 0 153297 13 0 1 0 The Production Advantage Inc 13873 Park Center Rd Suite 15 Oak Hill VA 20171 Mass Production Printing 1115004 Blackbaud Inc 1255 23rd St NW 650 Washington DC 20037 Software implementation 520271 Hourigan Construction Group 4429 Bonney Road Suite 200 Virginia Beach VA 23462 Brock Center Construction 478094 Solar Energy Services Inc 1514 Jabez Run 103 Millersville MD 21108 Solar panel installation 315027 Hartman Exec Advsr 1954 Greenspring Dr 320 LuthervilleTimonium MD 21093 IT consulting services 205908 11 303658 799898 1271515 20228091 1490068 22603162 Tuition and Education 900099 1093983 1093983 Contract Income 900099 309498 309498 Farm Income 900099 300545 300545 Workshop Income 900099 12885 12885 Tour income 900099 2674 2674 1719585 1187081 5519 1181562 28261 28261 232826 0 232826 232826 232826 13942061 295 13485304 0 456757 295 457052 457052 171100 799898 386990 -215890 -215890 Miscellaneous 900099 59339 59339 59339 26071416 1719585 5519 1743150 521085 521085 7760 7760 1478683 624642 700403 153638 9170323 7114028 1080084 976211 321182 250676 35676 34830 2845867 2104787 434281 306799 797410 589474 100409 107527 75643 53029 12922 9692 167955 167955 168040 168040 358064 358064 141250 141250 2115522 2115230 292 80568 54373 3790 22405 2603526 1916400 148518 538608 142471 94612 47859 455931 431838 15622 8471 471160 419406 33299 18455 356489 270845 49577 36067 360637 280337 46838 33462 1209626 1100949 63911 44766 360002 301775 35353 22874 UBIT 22366 22366 Allocation of G&A 0 711241 -824640 113399 Repairs & Maintenance 533641 474553 23029 36059 Restoration Fees 247625 247625 153917 105424 23353 25140 25166743 19958129 2313996 2894618 X 2194443 1575795 0 618648 11761 9960 17002179 8167720 11628547 11676703 1494899 843584 88732 87013 685359 651495 48079211 17071657 30484837 31007554 27061665 30894273 21688714 23125836 124324 105931 110271017 106570069 1705662 1740573 515244 863126 5379056 4854120 5049742 2449742 1622680 1561923 14272384 11469484 X 31088547 31759859 20271121 17233727 44638965 46106999 95998633 95100585 110271017 106570069 X 904673 -1825422 22701 X 0 1 X 1 1 1 X 30974164 26105266 25044891 19527320 22603162 124254803 30974164 26105266 25044891 19527320 22603162 124254803 11393843 112860960 1376467 941320 940645 820571 1442649 5521652 0 40826 14526 59339 114691 129891146 8341447 0.86890 0.89030 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 21917 234562 256479 24910264 25166743 1000000 250000 0 0 1000000 1000000 1000000 1000000 4000000 6000000 217370 295535 353952 256479 1123336 250000 250000 250000 250000 1000000 1500000 29276 17108 39661 21917 107962 X X 15 981.00 0 2 1 18.00 782 1 0 17000 X Decorative purposes only 0 55313607 912345 -306112 2949609 52970231 56209935 142680 1646652 2685660 55313607 51107017 718953 7000392 2616427 56209935 46598428 941604 5910742 2343757 51107017 43282028 6324069 -984676 2022993 46598428 0.20730 0.70630 0.08640 1 0 11664699 11664699 26950426 10656603 16293823 9464086 6415054 3049032 31007554 Partnerships/Alternative Investments 19902319 F Beneficial Interest in Perpetual Trust 3223517 F 23125836 Split Interest Agreement 840555 Interest Rate Swap Obligation 721368 1561923 X 25691631 -1825422 1177196 409691 -238535 25930166 141250 141250 26071416 26589679 1177196 386990 1564186 25025493 141250 141250 25166743 Part II, Line 9: A monetary value has not been placed on conservation easements; therefore, they are not included in financial statements. Part III, Line 4: A scale model of a Chesapeake Bay crabbing skiff hangs in the foyer of the Merrill Center. It is a reminder that CBF's mission is to Save the Bay, which includes restoring its bounty to levels that can support all the people who make a living on the Bay. Greeting visitors to the Merrill Center is a bronze and silver sculpture of an osprey, representing the fact that approximately one-quarter of all ospreys in the contiguous United States nest in the Chesapeake Bay region. Part V, Line 4: Endowment funds are used for donor restricted projects as well as to fund unrestricted activities. Donor restricted endowments are used for education in general, field education, farm operations, support and maintenance of facilities and boats, and restoration projects. It is the policy of the Foundation to spend 5% of a twelve quarter trailing average of the sum of accumulated investments. Part X, Line 2: For the years ended June 30, 2016 and 2015, the Foundation has documented its consideration of FASB ASC 740-10, Income Taxes, that provides guidance for reporting uncertainty in income taxes and has determined that no material uncertain tax positions qualify for either recognition or disclosure in the financial statements. Part XI, Line 2d - Other Adjustments: Special Event Expenses reported as an expense on the 386,990. financial statements and netted against revenue on the Form 990, Part VII, line 8b. Unrealized gain on interest rate swap 22,701. Part XII, Line 2d - Other Adjustments: Special Event Expenses reported as an expense on the 386,990. financial statements and netted against revenue on the Form 990, Part VII, line 8b. X X X X X X X 1 Avalon Consulting 2030 M St NW 700 Washington DC 20036 Membership Consulting 0 3295302 183859 3111443 M&R Strategic Services Inc 1901 L St NW 800 Washington DC 20036 Digital Consulting 0 1082307 145327 936980 Public Interest Communications 7700 Leesburg Pike Falls Church VA 22043 Telemarketing 0 20351 28878 -8527 4397960 358064 4039896 AL AK AZ AR CA CO CT FL GA HI IL KS KY LA ME MD MA MI MN MS MO NH NJ NM NY NC ND OH OK OR PA RI SC TN UT VA WA WV WI DC on the Half Shell 600845 524470 76375 8300 1295 3000 228229 BandsInSand 364045 271430 92615 38776 32634 20850 53729 1 6108 3998 2110 177 970998 799898 171100 47076 33929 23850 282135 386990 -215890 1 1st Impressions 1521 COMMERCE AVENUE CARLISLE PA 17015 270453353 Other 26522 Bridgeview/Greenlawn Community Enhancement Project Civic Works Inc 2701 SAINT LO DRIVE BALTIMORE MD 21213 521925614 Other 19425 Bridgeview/Greenlawn Community Enhancement Project Civil & Environmental Services 191 SATINWOOD LANE NELLYSFORD VA 22958 205974468 Other 87962 Restoring Southside Richmond Watersheds DNDC-Applications Research & Training 87 PACKERS FALLS ROAD DURHAM NH 03824 273429680 Other 24888 Greenhouse Gas Project Elizabeth River Project 475 WALTER STREET SUITE 103A PORTSMOUTH VA 23704 541663058 501(c)(3) 154544 MD & VA Reef Habitat & VA Lafayette Oyster Lancaster County Conservation District 1383 ARCADIA ROAD LANCASTER PA 17601 231666539 Government 5242 Watershed Restoration Tarleton State University BOX T-0410 STEPHENVILLE TX 764020001 756001870 Government 50206 Water Quality Trading Team Ag 120 LAKE ST EPHRATA PA 17522 233102803 Other 28086 Watershed Restoration & Implementation of Agricultural Best Management Practices University of Maryland PO BOX 775 CAMBRIDGE MD 216130775 526002033 Government 17916 Reef Ball Evaluation Project US Fish and Wildlife Service 177 ADMIRAL COCHRANE DRIVE ANNAPOLIS MD 21401 530201504 Government 32280 Nutrient/Sediment Reduction & Habitat Restoration Project Virginia Forage and Grasslands Council 128 MCCORMICK FARM CIRCLE RAPHINE VA 24472 541061472 501(c)(3) 5870 Promoting Regional Grazing Whitescarver Natural Resources Mgmt 120 TRIMBLES MILL ROAD SWOOPE VA 24479 275233176 Other 24405 Provide Technical Assistance to Landowners World Resources Institute 10 G STREET NE SUITE 800 WASHINGTON DC 20002 521257057 501(c)(3) 25319 Water Quality Trading 7 6 Subaward 1 7760 Part I, Line 2: Grant agreements require detailed project reports that are reviewed by departmental Financial Managers before payments are made. Program Managers will also review and approve the Grantee's Project Performance according to the details of the grant. X X 0 0 0 0 0 0 0 1 0 William C Baker President 201596 0 150 0 0 0 8387 0 20189 0 230322 0 0 0 Fay R Nance Treasurer/Chief Financial Officer 164094 0 150 0 0 0 6690 0 4130 0 175064 0 0 0 Mary Tod Winchester Secretary/VP-Administration 129046 0 150 0 0 0 5585 0 22574 0 157355 0 0 0 Elizabeth Buckman Vice President-Communications 135209 0 150 0 0 0 5664 0 15598 0 156621 0 0 0 Kimberly L Coble VP-Environmental Protection Resource 143116 0 150 0 0 0 5837 0 3629 0 152732 0 0 0 Jon A Mueller Vice President of Litigation 161167 0 150 0 0 0 6601 0 4000 0 171918 0 0 0 Katharene P Snavely Vice President of Development 138218 0 150 0 0 0 5802 0 7678 0 151848 0 0 0 Part I, Line 7 In addition to the bonuses listed on Schedule J, Part II, Thomas W. Ackerman and Charles D. Foster, Jr.'s compensation on Part VII of the 990, included bonuses of $150 each. A Maryland Economic Development Corporation 521376562 2013-10-01 6195000 Refund 1998 Bonds 0 0 0 A 1340880 6195000 6195000 2000 1 0 1 1 A 0 0 0 0 0 0 1 A 0 1 0 0 1 1 Capital One National 10.000000000000 0 0 0 0 1 A 1 Boatyard Bar and Grill Richard Franyo, Board Member of CBF is owner of Boatyard Bar and Grill 23928 Boatyard Bar and Grill provided catering services to CBF. 0 Whitescarver Natural Resources Management LLC (WNRM) Bobby Whitescarver, owner of WNRM and husband of Jeanne Hoffman (board) 25535 Whitescarver Natural Resources Management, LLC was a subcontractor to CBF. 0 Sch L, Part IV, Transaction Details: Boatyard Bar and Grill provides catering services to CBF for about half the price of services from establishments of similar caliber and reputation. Mr. Whitescarver was chosen as a subcontractor for his outstanding record of providing guidance and technical expertise regarding agriculture best management practices during his 32 year career with the Natural Resources Conservation Service. His first subcontract with CBF was signed in 2011, long before his wife became a CBF board member. X 5384 Fair market value X 1 2249 Fair market value X 89 1475317 Fair market value X Meals and beverages 4 4576 Fair market value X Gravel/plants 2 1354 Fair market value X Office equip/supplies/misc 1 1188 Fair market value 0 1 1 Part I, Column (b): The number of contributions received was reported in column B on part I. Part I, Line 32b: When necessary, licensed boat brokers are used to sell donated boats that are not used for operations. Form 990, Part I, Line 1 The Chesapeake Bay and its tributary rivers are broadly recognized as a national treasure. But, they are fouled by excess nitrogen, phosphorus, and sediment pollution. In fact, the Bay and most of its tidal tributaries are listed on the Clean Water Act's 303(d) list of "impaired waters." The Chesapeake Bay Foundation's (CBF) mission, simply stated, is to Save the Bay and keep it saved. We define a saved Bay as having a score of 70 (out of 100) on CBF's State of the Bay health index. Thanks largely to a dramatic reduction in the amount of pollution entering the system, at 70 the Chesapeake Bay and its tributary rivers will be highly productive and in good health as measured by established water-quality standards. The result will be clear water, free of the impacts from toxic contaminants, and healthy oxygen levels, able to support living resources in all parts of the Bay. Founded in 1966, CBF is the largest regional conservation organization dedicated solely to saving a national treasure-the Chesapeake Bay and its rivers and streams. With headquarters in Annapolis, MD; state offices in MD, VA, PA, and DC; and educational centers and programs across the region; CBF works throughout the 64,000-square-mile Chesapeake watershed to educate-build an informed citizenry; advocate-advance pollution reduction; litigate-encourage enforcement of environmental law; and restore-rebuild the Bay system's natural filters such as oysters, underwater grasses, and streamside forests. CBF is supported by more than 233,462 members and e-subscribers and has a staff of 181 full-time employees. Form 990, Part III, Line 4a Education, continued from page 2: Engaged 74 student leaders from high schools across the region through our Student Leadership summer courses. Designed to engage tomorrow's environmental leaders, these students now participate in CBF events, share what they learned with peers, and create projects in their communities to better the environment. Educated 241 elected officials, policy makers, journalists, and other community leaders and advocates through on-the-water field experiences. These trips inform influential members of the community about the issues facing the Bay and the ways that they can help further the Bay's restoration. Taught 56 principals and school administrators through our Principal Environmental Leadership Courses. These courses increase support for environmental education, while promoting the establishment of environmental school programs. Partnered with 12 Maryland school systems to develop lesson plans that incorporate environmental education. These model curricula are being used by schools across the state, helping teachers to fully implement Maryland's first-in-the-nation environmental literacy graduation requirement. Expanded systemic environmental education in Virginia by partnering with Hampton City Public Schools. This comes in addition to existing partnerships with the Virginia Beach City and Rockingham County school systems. Through this work, CBF is striving to connect classroom instruction to outdoor learning for students at every grade level. Form 990, Part III, Line 4b Environmental Protection and Restoration (EPR), continued from page 2: Engaged volunteers in environmental restoration projects. All told, these dedicated volunteers contributed 21,251 hours of their time and assisted with projects ranging from tree plantings to oyster gardening. Cleaned 440 miles of stream and shoreline during the 28th annual Clean the Bay Day. That day, approximately 6,000 volunteers collected 130,000 pounds of trash at 265 sites across Virginia. Planted 17,560 trees and 5,000 grass plugs in Pennsylvania, Maryland and Virginia. Worked with nearly 400 farmers and landowners in Pennsylvania and Virginia to assist in the installation of conservation practices. Helped secure one of the largest investments in water quality in the history of the Commonwealth of Virginia - $140 million in bond and general funds. CBF also worked to ensure that $61.7 million was allocated for agricultural best management practices in fiscal year 2017, the highest funding level for one year ever provided in Virginia for this program. Defended Virginia's stormwater management law against efforts to weaken it by ensuring that $20 million was allocated for the Stormwater Local Assistance Fund. Advocated for the passage of the Sustainable Oyster Harvest Act of 2016 which should provide the scientific data needed to create a science based fisheries management plan for oysters as required under current Maryland law. Worked to ensure Maryland is making the proper investments to protect irreplaceable natural resources, including sufficiently funding the state agencies that are tasked with implementing important restoration efforts and enforcing critical environmental laws. CBF advocated against any cuts to the budget that would compromise the progress on restoring and protecting the Bay. Urged Pennsylvania County Commissioners to pass the Clean Water Counts Resolution that calls on the Commonwealth to prioritize funding and increasing investments for clean water. So far, 33 counties have signed on to the initiative. Advocated for increased funding in Pennsylvania for agricultural conservation practices as well as conservation and environmental protection budgets. Litigation Defended the Chesapeake Clean Water Blueprint in federal appeals court, arguing in support of the pollution limits that are the cornerstone of the plan. The court agreed, ensuring that multi-state clean-up efforts will continue. Continued challenge of stormwater permits issued by the Maryland Department of the Environment in six counties. The appeals were dismissed by the Maryland Court of Appeals based on deference to MDE's decision making discretion. Continued our participation in cases defending the federal Mercury and Air Toxics Standards, which are designed to limit the emission of toxic air pollutants including mercury released by power plants. These important pollution limits are being challenged by some states and industry. Intervened in a lawsuit brought by Norfolk Southern Railroad against the City of Roanoke for the imposition of a stormwater control fee. The railroad claims rail beds and train yards are just as pervious as lawns and the City's assessment is discriminatory. Intervened in litigation before the Anne Arundel County Circuit Court to defend a Forest Conservation Easement located in the Maryland Critical Area sought to be overturned by a subsequent landowner. Began proceedings before the Anne Arundel County Board of Appeals challenging the County's decision to grant conditional sketch plan approval for 11 new homes in an area zoned to allow only 1 home near Deep Cove Creek, Churchton, Maryland. Reviewed and commented on a proposed consent decree concerning the City of Baltimore's combined sewer system sewage discharges. Form 990, Part III, Line 4c Communications, continued from page 2: More than 602,000 unique individuals visited cbf.org, and over 31,000 advocacy messages were sent to key decision makers. CBF's quarterly electronic newsletter was distributed to more than 165,000 e-members. CBF's Facebook audience increased by more than 36% to over 87,000 fans. CBF's Twitter following increased by more than 15% to over 19,000 followers. CBF's volunteers donate over 60,009 hours. Form 990, Part V, Line 4b: CBF held a foreign investment. However, at the end of the year, the investment balance was zero. Form 990, Part VI, Section A, line 2 William C. Baker and Truman T. Semans have a business relationship. Form 990, Part VI, Section B, line 11 An independent audit firm was engaged to conduct the financial statements' audit and to assist in preparing the Form 990. The Chief Financial Officer and Finance staff directly participated in preparing the form, drafting responses to questions and reviewing the Form 990 in draft. The Chief Financial Officer then reviewed it with the President and Chairman of the Audit and Finance Committee. The 990 was provided to the Audit and Finance Committee, comprised of Board of Trustee members, for their review and comments, after which it was sent to the full Board before being electronically filed with the IRS. Form 990, Part VI, Section B, line 12c Each Trustee, officer, key employee and employees in positions to obligate CBF are required to review a copy of the conflict of interest policy annually and complete a disclosure form identifying any relationship positions or circumstances which he or she believes could contribute to a conflict. The conflict of interest disclosure form is completed, signed and returned to the Chief Financial Officer who notifies the Chairman of the Audit and Finance Committee and the General Counsel of any concerns. This process is also covered in orientation sessions held for new Trustees as well as for new employees. If items arise during Board meetings that are conflicts of interest, the board member having possible conflicts of interest cannot vote or participate in Board or Committee deliberations on the subject or be counted toward meeting a quorum. However, they may answer questions. Form 990, Part VI, Section B, line 15 During the annual budget approval meeting of the Audit and Finance Committee of the Board of Trustees, the Committee reviews and approves the salary and any proposed pay increase for the President and key employees. Compensation related decisions are documented within the minutes. The committee will provide this information to the full board for approval. The President's last compensation review took place in May 2016. Generally, compensation for all staff is independently reviewed and determined annually based on performance evaluation, and analysis of comparable data obtained from industry resources and peer organizations. An overall increase pool, based on market data, is approved by the Committee for use in the process. In addition, the President, Chief of Staff and Director of Human Resources review and approve all staff alignment to ensure consistency and continuity of various positions within the appropriate pay grades and ranges. Form 990, Part VI, Section C, line 19 CBF's governing documents and conflict of interest policy are available to the public upon request using contact information on the website. Audited financial statements, the Form 990, and the Annual Report can be found on CBF's website. Audited financial statements and the Form 990 are also filed with state charitable solicitation registrations, and are also available through not-for-profit internet portals such as Guidestar and Charity Navigator. Form 990, Part XI, line 9: Unrealized gain on interest rate swap 22,701.