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04/20/2022 - Meeting Materials 4/11/22, 12:20 PM Utah Nonprofits Association-Utah Nonprofits Association V�cl NON PROFITS ASSOCIATION Standards of Ethics for Utah's Nonprofits UNA's Standards of Ethics tool encompasses ethical practices, identifies areas of success, and focuses on areas in need of attention. This tool is not meant to be a pass or fail, instead it is meant to be a resource to help Leadership and the Board of Directors explore the extent to which policies, procedures, and practices align. We worry less about how you have marked each item and instead focus on the resources we can provide to assist your nonprofit in maintaining ethical practices aligned with legal requirements. • UNA Nonprofit Members are asked to complete this review annually and submit an Affirmation of Commitment to UNA. • There is no requirement to mark all areas as complete; rather nonprofits should examine their practices with the purpose of identifying areas for improvement and making good faith efforts to close identified gaps. • Affirming a commitment to the Standards of Ethics signals that the leadership of a nonprofit is committed to upholding its own ethical standards. • Upon receipt of your nonprofit's Affirmation, your CEO/Executive Director and Board Chair/President will receive: o A Standards of Ethics digital icon (for use on social media, websites, email signatures, letterhead, etc.) showcasing your https://utahnonprofits.org/component/rsform/form/44-standards-of-ethics-for-utah-s-nonprofits 1/16 4/11/22, 12:20 PM Utah Nonprofits Association-Utah Nonprofits Association V�Ci NONPROFITS ASSOCIATION additional attention. Instructions for Annual Review 1. Review the Standards of Ethics with your nonprofit's entire leadership team at least annually (e.g. Board of Directors, Executive Director/CEO, Senior Management Team). 2. Upon review, invite the Board of Directors to affirm whether the nonprofit's current policies, procedures, and practices are aligned with the overarching objectives and principles reflected in the Standards. 3. Submit the completed Affirmation of Commitment online to UNA. 4. UNA will review each submission and provide a Standards of Ethics digital icon along with supporting resources where appropriate. 5. The nonprofit's Board of Directors will work with staff to make any necessary updates or changes to policies, procedures, and practices Structure of Standards of Ethics The Standards of Ethics tool is structured as a survey questionnaire covering ten (10) areas of focus. They are: Read the full Standards of Ethics I. Mission, Vision, and Values II. Governance III. Financial, Legal Accountability, and Transparency IV. Fundraising https://utahnonprofits.org/component/rsform/form/44-standards-of-ethics-for-utah-s-nonprofits 2/16 4/11/22, 12:20 PM Utah Nonprofits Association-Utah Nonprofits Association V�ft I NONPROFITS ASSOCIATION VIII. Public Policy and Advocacy IX. Evaluation X. Race, Equity, Diversity, and Inclusion Standards of Ethics for Utah's Nonprofit Organizations Mission O Our mission statement is developed, defined, and Vision and formally approved by our Board of Directors. Our mission Values Check all guides the decision making, activities and programs of our that apply organization and is used as a measuring device to evaluate the outcomes of our work. O The mission statement is linked to the values of the organization and its vision for the future. O Our nonprofit has a vision that is developed, defined and formally approved by our Board of Directors. O Our nonprofit is led by a set of values that represents our core beliefs and guides our work. O Our leadership periodically revisits our mission to determine 1) if the need for our nonprofit continues to exist, 2) whether our mission needs to be modified, 3) if our programs need to be revised or discontinued, or 4) if new programs need to be created. Governance https://utahnonprofits.org/component/rsform/form/44-standards-of-ethics-for-utah-s-nonprofits 3/16 4/11/22, 12:20 PM Utah Nonprofits Association-Utah Nonprofits Association V�ft I NONPROFITS ASSOCIATION serve, brings expertise and representative character reflecting the diversity and interests of the entire community, and acts as a passionate advocate for our organization's mission. O Expectations for our Board of Directors are clearly delineated to ensure engagement in our nonprofit's ongoing governance. O Our board determines the mission of our organization, establishes governing policies and strategic plans, gives and solicits resources adequate to those plans, and monitors our organization's financial, executive, and programmatic finances. O Our full board approves our organization's annual budget, insurance coverage, and choice of auditor, as well as the findings of the organization's audit, management letter, and plans to implement the management letter contents when applicable. O Our board meets regularly, evidenced by documented meeting minutes. Board actions are voted upon as appropriate and decisions are properly documented. O Our nonprofit's board performs an evaluation to assess its own performance as a governing body and the role it is playing in supporting the organization's long-term strategic success. Action steps are developed and monitored to close any meaningful gaps. https://utahnonprofits.org/component/rsform/form/44-standards-of-ethics-for-utah-s-nonprofits 4/16 4/11/22, 12:20 PM Utah Nonprofits Association-Utah Nonprofits Association V�ft I NONPROFITS ASSOCIATION and other specific organizational metrics. Action steps are developed and monitored to close any meaningful gaps. O The compensation of the Executive Director/Chief Executive Officer is determined independently by the Board Executive Committee (or board leadership) and is informed by the nonprofit's financial resources, compensation at comparable organizations, and a formal assessment of individual performance tied to previously planned metrics. O Our nonprofit has a Conflict of Interest policy in effect, and uses this policy to address such conflicts, whether actual, potential, or perceived. O Board Members are recused from decisions in which any personal benefit or interest conflict might arise. O In cases where board members, leadership, staff, or contractors have an interlocking familial or business relationship, potential for conflict of interest is highlighted as appropriate and related recusals are documented. Financial, O Our nonprofit creates and maintains financial reports on Legal a timely basis that accurately portray our financial status, Accountability, and activities, and addresses any material variations. These Transparency reporting tools are reviewed regularly at board meetings. Check all that apply https://utahnonprofits.org/component/rsform/form/44-standards-of-ethics-for-utah-s-nonprofits 5/16 4/11/22, 12:20 PM Utah Nonprofits Association-Utah Nonprofits Association V�CI NONPROFITS ASSOCIATION O Our nonprofit provides employees and others with a confidential means to report concerns regarding suspected financial impropriety, misuse of resources, or noncompliance with law, regulation, or policy (e.g. supported by a Whistleblower Policy). O Our nonprofit has written financial policies governing: asset investment; internal controls; purchasing/vendor practices; signing authority; and other policies as required. O To protect financial resources, appropriate implementation of duty segregation, dual control and other basic internal control methods are implemented and the need for adherence is reflected in written policies and procedures. O Our organization's complete and most recent IRS Form 990 (from the past three years), suppressing only donor information, is posted on our organization's website. It includes disclosure of executive compensation, including compensation received from subsidiary and related entities of our organization. O Our nonprofit complies with applicable federal, state, and local laws. This may include, but is not limited to laws and regulations promulgated by the State of Utah Fundraising https://utahnonprofits.org/component/rsform/form/44-standards-of-ethics-for-utah-s-nonprofits 6/16 4/11/22, 12:20 PM Utah Nonprofits Association-Utah Nonprofits Association ft I NONPROFITS ASSOCIATION with local, state and federal laws governing charitable solicitations. IS Our nonprofit, upon request, offers proof of its tax- exempt status by providing its IRS Determination Letter. An organization that is not eligible to receive tax-deductible contributions discloses this fact at the time of solicitation. IS Our nonprofit solicitation and promotional materials are accurate and truthful, identify the organization, reflect our IRS status, reflect our mission, and state our intended use of solicited funds. O Our nonprofit does not engage in solicitation tactics that are coercive, intimidating, or deceptive. O Our nonprofit respects the integrity and privacy of our clients or patrons. We do not use their names, pictures or stories in any publicity or fundraising activities without prior documented consent. O Our nonprofit ensures that restricted-purpose contributions are used in accordance with our donors' stated intent and obtains explicit documented consent before altering the intended use of a restricted gift. https://utahnonprofits.org/component/rsform/form/44-standards-of-ethics-for-utah-s-nonprofits 7/16 4/11/22, 12:20 PM Utah Nonprofits Association-Utah Nonprofits Association V�ft I NONPROFITS ASSOCIATION acknowledges donations, including in-kind gifts. Where applicable we state the value of any goods and services provided in connection with such donations. O Our nonprofit encourages donors to obtain informed advice about the tax treatment of gifts from an external financial advisor. O Our nonprofit posts our donor privacy policy online for easy access, which addresses how donor information is protected and how donors may opt out of publicity if they choose. O Our nonprofit expects that sponsors explicitly disclose how our nonprofit benefits from the sale of a commercial product or service. (e.g. "10% of the price of this ticket benefits XYZ nonprofit." Or "$10 of each purchase goes directly to XYZ nonprofit"). O Our nonprofit has a gift acceptance policy. Common elements include declining: of restricted gifts that cannot be used as requested, when the gift falls outside the scope of our organization's mission, if the donation requires excessive resources or incur unacceptable risks to handle, or are derived from a donor source or activity deemed incompatible with our values. O Our Board of Directors has determined that our nonprofit's fundraising costs are not excessive related to the costs of programs and activities in pursuit of our mission. https://utahnonprofits.org/component/rsform/form/44-standards-of-ethics-for-utah-s-nonprofits 8/16 4/11/22, 12:20 PM Utah Nonprofits Association-Utah Nonprofits Association V�CI NONPROFITS ASSOCIATION that bring in revenue. ra Our nonprofit informs stakeholders of our fundraising practices and, when engaging non-staff professional fundraisers, only use those registered as required by state law. O Our nonprofit monitors fundraising scripts and performance of individual's soliciting funds on our behalf, for compliance with regulations and our own policies. O To express our gratitude to supporters, we keep donors, volunteers, and other stakeholders informed about the performance of our programs on a regular basis. In doing so, we connect how their support has enabled our nonprofit to make progress in pursuit of our mission. External 151 Roles and responsibilities are clearly delineated as to Communication which individuals are authorized to communicate publicly Check all on behalf of our nonprofit. that apply IS Our nonprofit has procedures in place to ensure we can quickly communicate accurately and effectively in times of crisis, including protocols for developing messages that are deemed appropriate to the events by our leadership. O Our nonprofit provides public information describing our activities and processes. https://utahnonprofits.org/component/rsform/form/44-standards-of-ethics-for-utah-s-nonprofits 9/16 4/11/22, 12:20 PM Utah Nonprofits Association-Utah Nonprofits Association ft I NONPROFITS ASSOCIATION O Contact information is provided on our website and we respond in a reasonably prompt manner to questions and comments received. O Our nonprofit has adopted policies regarding the use of social media that is applicable to staff, leadership, board members, and volunteers. Roles, responsibilities, and guiding principles of communication in connection our nonprofit's name are delineated accordingly. Human O Our nonprofit's board has approved an employee Resources handbook documenting our human resource policies and Check all practices. We remain confident that our policies and that apply practices are compliant with current federal, state, and local labor laws and regulations. To ensure ongoing compliance, we regularly review our policies and make revisions as warranted. O Our nonprofit has approved policies and processes that address how volunteers are to be engaged and how such relationships are to be managed. The roles, responsibilities, and scope of authority of volunteers are clearly delineated. https://utahnonprofits.org/component/rsform/form/44-standards-of-ethics-for-utah-s-nonprofits 10/16 4/11/22, 12:20 PM Utah Nonprofits Association-Utah Nonprofits Association V�ft I NONPROFITS ASSOCIATION grievance, whistleblower) to raise concerns; our board has adopted a policy to guide how such concerns are to be properly addressed and then communicated back to the person raising the concern. O Our human resource policies and practices promote a work environment that welcomes and supports gender, racial, and ethnic inclusion. 0 Performance goals for the Executive Director/Chief Executive Officer reflect board input. Goals reflect strategic and operating plan objectives and clearly defined performance metrics are established and tracked accordingly. O Performance goals for staff reflect supervisor input. Goals reflect strategic and operating plan objectives and clearly defined performance metrics are established and tracked accordingly. 151 Our nonprofit maintains the confidentiality of staff and volunteer information, including personal data and takes appropriate measures to secure such information. O Our nonprofit regularly reviews its job descriptions to reflect changes in roles and responsibilities and, when hiring, to ensure job tasks are appropriately matched and weighted with the prerequisite experience necessary to succeed in the position. https://utahnonprofits.org/component/rsform/form/44-standards-of-ethics-for-utah-s-nonprofits 11/16 4/11/22, 12:20 PM Utah Nonprofits Association-Utah Nonprofits Association V�ft I NONPROFITS ASSOCIATION requiring candidates to disclose prior salary history. 112 Where practical, when evaluating candidates, we limit access to personal information that is not directly relevant to success in the open position. O Our compensation framework includes a benefits package that is appropriately scaled, given our nonprofit's current resources and prevailing competitive forces in the marketplace for talent. We embrace the need for staff development, providing meaningful training and career growth opportunities to the extent possible. Information O Our nonprofit has adopted a formal information and management and technology policy that outlines the Technology Management principles and practices for the proper storage, access, and Check all retention of data and documents held by our nonprofit. that apply p In cases where our nonprofit has outsourced information and technology management functions, our leadership has performed a good faith review of our vendors/contractors to evaluate reliability, performance, and security. Roles and responsibilities are clearly delineated in written contracts. https://utahnonprofits.org/component/rsform/form/44-standards-of-ethics-for-utah-s-nonprofits 12/16 4/11/22, 12:20 PM Utah Nonprofits Association-Utah Nonprofits Association V�ft I NONPROFITS ASSOCIATION content, social media accounts, and related assets are to be managed and safeguarded. Roles and responsibilities for access and security are delineated accordingly. O Our nonprofit provides training to staff and others granted data access regarding our nonprofit's information management policies and procedures. O Our nonprofit ensures that any confidential personal information regarding employees, volunteers, clients, board members and others is kept secure and only released as required by law. O Our nonprofit evaluates our technology assets periodically to keep pace with security updates and other enhancements in the field of information management. O Our nonprofit has adopted policies and procedures to address remote work, virtual program delivery, and other technology-based communications. These policies and procedures govern acceptable use, security of information, user cost reimbursement, and other relevant aspects of operating a remote workplace and/or program activity. Public Policy and Advocacy Check all that apply https://utahnonprofits.org/component/rsform/form/44-standards-of-ethics-for-utah-s-nonprofits 13/16 4/11/22, 12:20 PM Utah Nonprofits Association-Utah Nonprofits Association ft I NONPROFITS ASSOCIATION accurate information, align with our nonprofit mission, and provide sufficient contextual information so that our positions are clearly understood. O Our board approves the framing and content of positions our nonprofit adopts on public policy issues, authorizing specific individuals within our organization to engage in external communications. O Our nonprofit complies with relevant record-keeping and accounting practices required to document our lobbying activities. If necessary to our level of activity, we file a 501(h) election with the IRS, register as a lobbyist with the State of Utah, and file required disclosure reports. O Our nonprofit provides only factually accurate information to the public and provides sufficient contextual information so that the public may clearly understand our position. O A guideline for communicating our nonprofit's approved public policy activities are also reflected in our social media, website, and other communication policies and procedures. Evaluation Check all that apply https://utahnonprofits.org/component/rsform/form/44-standards-of-ethics-for-utah-s-nonprofits 14/16 4/11/22, 12:20 PM Utah Nonprofits Association-Utah Nonprofits Association V�CI NONPROFITS ASSOCIATION our mission, vision, and values are reflected in how we operate. Action steps are developed and monitored to close any meaningful gaps. O Our nonprofit solicits candid feedback from our staff and volunteers to determine whether our programs, policies, and work environment are functioning in ways that are consistent with our mission and values. Action steps are developed and monitored to close any meaningful gaps. O Our nonprofit is transparent with the results of organizational evaluations, as appropriate - sharing results with relevant stakeholders and communicating plans to address gaps as warranted. Race, Equity, O Our nonprofit provides educational opportunities to staff Diversity, and board members regarding race, equity, diversity and and Inclusion inclusion knowledge, comprehension, and activities. Check all Q Our nonprofit's strategic plans, programs, and operating that apply policies are evaluated to ensure our organization is an inclusive and welcoming source of support and influence reflecting the gender, racial, and ethnic communities we serve. https://utahnonprofits.org/component/rsform/form/44-standards-of-ethics-for-utah-s-nonprofits 15/16 4/11/22, 12:20 PM Utah Nonprofits Association-Utah Nonprofits Association ft NONPROFITS ASSOCIATION they might arise. O Our nonprofit's leadership holds itself accountable to identify gaps in programs and policies with respect to race, equity, diversity, and inclusion. Action steps are developed and monitored to close any meaningful gaps. O Our nonprofit's leadership and staff is representative of the communities we serve. O Our hiring and compensation practices are designed and applied in ways that support equity, diversity, and inclusion. Affirmation of Commitment to Standards of Ethics Stay Up to Date on All Things Nonprofit! SIGN UP FOR UNA UPDATES https://utahnonprofits.org/component/rsform/form/44-standards-of-ethics-for-utah-s-nonprofits 16/16 Salt Lake Arts Council Foundation 4:55 PM Balance Sheet 04/07/2022 As of March 31, 2022 Accrual Basis Mar 31, 22 ASSETS Current Assets Checking/Savings Cash Checking-MACU 385,856.86 Checking - MACU/Grants 214,305.00 Savings - MACU 20.00 Savings - MACU/Grants 125.00 Total Cash 600,306.86 Gift Card 3.95 Investments Utah State Treasurer 500,581.70 Total Investments 500,581.70 Total Checking/Savings 1,100,892.51 Accounts Receivable Accounts Receivable 18,500.00 Total Accounts Receivable 18,500.00 Other Current Assets Other Assets Prepaid Expenses - Other 5,250.00 Prepaid Postage 61.07 Total Other Assets 5,311.07 Sales Tax Receivable 2,114.18 Total Other Current Assets 7,425.25 Total Current Assets 1,126,817.76 Fixed Assets Fixed Assets Electronic Equipment 15,964.00 Event Equipment 18,981.00 Furniture and Equipment 6,019.00 Leasehold Improvements 348,318.00 Total Fixed Assets 389,282.00 Investment in Gnrl Fixed Assets -389,282.00 Total Fixed Assets 0.00 TOTAL ASSETS 1,126,817.76 LIABILITIES & EQUITY Liabilities Current Liabilities Accounts Payable Grants Payable Artist in the Classroom 10,000.00 General Support 101,525.00 Page 1 of 2 Mar 31, 22 Project Support 66,750.00 Total Grants Payable 178,275.00 Payables -2,628.22 Total Accounts Payable 175,646.78 Credit Cards MACU Credit Card 4,890.83 Total Credit Cards 4,890.83 Other Current Liabilities Accrued Liabilities Accrued Payroll Taxes Employee Witholding FICA 1,120.28 Employer FICA 1,120.28 Federal Tax Withholding 323.44 State Income Tax Withholding 1,231.06 Total Accrued Payroll Taxes 3,795.06 Total Accrued Liabilities 3,795.06 Deferred Revenue 5,000.00 Deposit Liabilities 450.00 Direct Deposit Liabilities 0.44 Total Other Current Liabilities 9,245.50 Total Current Liabilities 189,783.11 Total Liabilities 189,783.11 Equity Unrestricted Net Assets 651,037.74 Net Income 285,996.91 Total Equity 937,034.65 TOTAL LIABILITIES & EQUITY 1,126,817.76 Page 2 of 2