TIN:
SCHEDULE O
(Form 990 or 990-EZ)
Department of the Treasury
Internal Revenue Service
(Form 990 or 990-EZ)
Department of the Treasury
Internal Revenue Service
Supplemental Information to Form 990 or 990-EZ
Complete to provide information for responses to specific questions on
Form 990 or 990-EZ or to provide any additional information.
Attach to Form 990 or 990-EZ.
Go to www.irs.gov/Form990 for the latest information.
OMB No. 1545-0047
2020
Open to Public
Inspection
Inspection
Name of the organization
CENTRAL INDIANA CORPORATE
PARTNERSHIP INC
PARTNERSHIP INC
Employer identification number
35-2065459
35-2065459
| Return Reference | Explanation |
|---|---|
| FORM 990, PART VI, SECTION B, LINE 11B | THE SEVEN-MEMBER CICP EXECUTIVE COMMITTEE WILL REVIEW THE RETURN BEFORE AUTHORIZING FOR DISTRIBUTION TO THE BOARD OF DIRECTORS. AS SOON AS POSSIBLE AFTER THAT MEETING, THE FORM WILL BE EMAILED TO THE FULL BOARD WITH AN EXPLANATION REGARDING THE REQUIRED PROCEDURE; AN EXPLANATION THAT THE FORM HAS BEEN REVIEWED BY MANAGEMENT AND THE EXECUTIVE COMMITTEE AND WE ENCOURAGE THE BOARD MEMBERS TO CONTACT MANAGEMENT WITH QUESTIONS AND CONCERNS. THE FULL BOARD WILL HAVE AN OPPORTUNITY TO DISCUSS THE RETURN AT THE AUGUST 2021 BOARD MEETING, BEFORE THE RETURN IS FILED. |
| FORM 990, PART VI, SECTION B, LINE 12C | EACH DIRECTOR, OFFICER, AND STAFF MEMBER ANNUALLY RECEIVES A CONFLICT OF INTEREST QUESTIONNAIRE THROUGH WHICH HE OR SHE IS ASKED TO CONFIRM OR REPORT THE FOLLOWING: (I) THAT HE OR SHE HAS READ AND UNDERSTANDS CICP'S CONFLICT OF INTEREST POLICY (WHICH IMPOSES UPON DIRECTORS, OFFICERS, AND STAFF A CONTINUING, AFFIRMATIVE DUTY TO REPORT ANY PERSONAL OWNERSHIP, INTEREST, OR RELATIONSHIP THAT MIGHT AFFECT HIS OR HER ABILITY TO EXERCISE IMPARTIAL, ETHICAL, AND BUSINESS-BASED JUDGMENTS IN FULFILLING THEIR RESPONSIBILITIES TO CICP); (II) THAT HE OR SHE IS IN COMPLIANCE WITH THE POLICY; (III) THAT HE OR SHE IS REPORTING (WITH HIS OR HER COMPLETED QUESTIONNAIRE) ALL ACTUAL OR POTENTIAL CONFLICTS OF INTEREST THAT ARISE AS A RESULT OF HIS OR HER ROLE WITH CICP, AND EACH POSITION THAT HE OR SHE HOLDS AS A DIRECTOR, TRUSTEE, OFFICER, OR EMPLOYEE OF ANY OTHER NONPROFIT ORGANIZATION; AND (IV) THAT HE OR SHE WILL REPORT PROMPTLY ANY CHANGES IN THE INFORMATION REPORTED IN HIS OR HER QUESTIONNAIRE OR IN ANY OTHER MATTERS THAT MIGHT AFFECT COMPLIANCE WITH THE POLICY. THE EXECUTIVE ASSISTANT TO THE CEO COLLECTS AND REVIEWS THE QUESTIONNAIRES AS THEY ARE RETURNED, ALERTS THE CEO TO ANY CONFLICTS THAT HAVE BEEN REPORTED, AND MAKES SURE THAT ALL WHO ARE REQUIRED TO COMPLETE A CONFLICT QUESTIONNAIRE HAVE DONE SO. WHEN AN INDIVIDUAL REPORTS AN ACTUAL, POTENTIAL, OR PERCEIVED CONFLICT OF INTEREST, CICP FOLLOWS THE PROCEDURES OUTLINED IN ITS POLICY FOR DISCLOSURE OF CONFLICTS TO THE APPLICABLE BODY OF DECISION-MAKERS AND RECUSAL OF INDIVIDUAL(S) WITH CONFLICTS FROM THE DECISION-MAKING PROCESS. PURSUANT TO THE POLICY, THE CICP BOARD IS RESPONSIBLE FOR THE OVERSIGHT OF, AND ACTION REGARDING, ALL DISCLOSURES AND/OR FAILURES TO DISCLOSE. |
| FORM 990, PART VI, SECTION B, LINE 15 | CICP'S CEO AND CFO'S PERFORMANCE AND COMPENSATION IS REVIEWED, ANALYZED AND SET BY THE CICP EXECUTIVE COMMITTEE, WHICH USES A DISTINCT SET OF COMPARABLES TO THE COMPENSATION OF OTHER EXECUTIVES IN SIMILAR POSITIONS IN OTHER ORGANIZATIONS. SEVERAL KEY EMPLOYEES ARE REVIEWED BY THEIR RESPECTIVE EXECUTIVE COMMITTEES OR DESGINATED SUBCOMMITTEES ON AN ANNUAL BASIS, INCLUDING 2020. EACH YEAR EACH KEY EMPLOYEE SUBMITS A WRITTEN SELF-ASSESSMENT TO THE APPROPRIATE COMMITEE PRIOR TO THE MEETING AT WHICH COMPENSATION IS ADDRESSED. THE COMMITTEE RECEIVES A LIST OF COMPENSATION COMPARABLES FROM THE CICP CFO. THE LIST COMPARES EACH EMPLOYEE'S COMPENSATION AGAINST THAT OF OTHER EXECUTIVES IN SIMILAR POSITIONS IN OTHER ORGANIZATIONS AS WELL AS THE COMPENSATION HISTORY FOR THE INDIVIDUAL. AT THE MEETING, THE INDIVIDUAL MAY REVIEW THE SELF-ASSESSMENT WITH THE COMMITTEE. THE INFORMATION PROVIDED IS USED TO DETERMINE ANY COMPENSATION ADJUSTMENT TO BE MADE. THE CHAIRMAN OF THE REVIEWING COMMITTEE AND ONE OTHER MEMBER MEET WITH THE INDIVIDUAL AND REVIEW THE CONCLUSIONS OF THE GROUP REGARDING PERFORMANCE AND COMPENSATION ADJUSTMENT, IF ANY. THE COMPENSATION TERMS AND RESULTS OF THE MEETING ARE DOCUMENTED AND FORWARDED TO CICP'S CFO. THE DOCUMENTATION USUALLY REFLECTS (I) THE DATE ON WHICH THE COMPENSATION WAS APPROVED, (II) THE MEMBERS OF THE COMMITTEE WHO WERE PRESENT AND VOTED ON THE COMPENSATION TERMS, (III) THE COMPARABILITY DATA THAT WAS OBTAINED, REVIEWED, AND RELIED ON BY THE COMMITTEE (AND HOW THE DATA WAS OBTAINED AND USED), AND (IV) ANY RECUSAL OR WITHDRAWAL BY A MEMBER OF THE COMMITEE WHO HAD A CONFLICT OF INTEREST WITH RESPECT TO THE COMPENSATION (THE LAST POINT IS AN UNLIKELY SCENARIO). |
| FORM 990, PART VI, SECTION C, LINE 19 | CICP'S GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY AND FINANCIAL STATEMENTS ARE AVAILABLE TO THE PUBLIC UPON REQUEST. |
| FORM 990, PART IX, LINE 5 - LINE 10 | SHARING OF PAID EMPLOYEES: CENTRAL INDIANA CORPORATE PARTNERSHIP, INC. (CICP) IS AFFILIATED WITH CICP FOUNDATION, INC., AND 16TECH COMMUNITY CORPORATION (16TECH), 501(C)(3) CORPORATIONS, BC INITIATIVE, INC., (BCI), CLEANTECH SYSTEMS SOLUTIONS (CSS) AND ASCEND INDIANA STRATEGIES (AIS), FOR PROFIT C CORPORATIONS. CICP EMPLOYS ALL WHO PROVIDE SERVICES TO THE SIX ENTITIES. BASED ON INFORMATION PROVIDED BY CICP FOUNDATION, AIS, 16TECH, CSS, AND BCI, CICP ALLOCATES SALARY AND BENEFIT COSTS TO THE FOUNDATION, AIS, 16TECH, CSS, AND BCI, AND IS REGULARLY REIMBURSED FOR THOSE COSTS. CICP HAS A SHARED SERVICES AGREEMENT WITH CICP FOUNDATION. CICP EMPLOYEES MAY WORK ON PROGRAMS FUNDED THROUGH CICP FOUNDATION. IN MOST CASES THE TIME SPENT WOULD BE ALLOCATED TO CICP FOUNDATION AND REIMBURSED TO CICP. EMPLOYEE TIME SPENT ON FOR-PROFIT AFFILIATED ENTITIES IS ALWAYS REIMBURSED. |
| FORM 990, PART IX, LINE 24 | OTHER EXPENSES: AS DISCUSSED IN THE SCHEDULE O REFERENCE TO FORM 990, PART IX, LINE 5-LINE 10, CICP HAS A COMPENSATION AGREEMENT WITH CICP FOUNDATION, INC., ASCEND INDIANA STRATEGIES, 16TECH COMMUNITY CORPORATION, AND BC INITIATIVE, INC. THE AMOUNT LISTED ON LINE 24D IS EXPRESSED AS A NEGATIVE DOLLAR VALUE AS IT REPRESENTS SALARY REIMBURSEMENT MADE TO CICP. BECAUSE THIS AMOUNT IS NOT A TRUE EXPENSE TO CICP, WE HAVE DETERMINED THE $-9,899,209 SHOULD NOT BE INCLUDED ON CICP'S FUNCTIONAL EXPENSE SALARY LINE, BUT BROKEN OUT ON PART IX, LINE 24D AS SHOWN. BASIS OF ACCOUNTING: MODIFIED CASH BASIS AS EMPLOYED BY CICP FOR THE CONSOLIDATED FINANCIAL AUDIT IS AS FOLLOWS: CICP RECOGNIZES CASH RECEIPTS THAT ARE DESIGNATED FOR CURRENT YEAR OPERATIONS WHEN RECEIVED. THUS, MULTI-YEAR PLEDGES ARE NOT RECORDED AS INCOME UNTIL THE CASH IS RECEIVED. CASH RECEIVED FOR MULTI-YEAR GRANTS IS RECORDED AS DEFERRED INCOME AND IS RECOGNIZED AS INCOME WHEN ASSOCIATED EXPENSES HAVE BEEN INCURRED. EXPENSES ARE ACCOUNTED FOR USING THE GAAP ACCRUAL METHOD. |
| FORM 990, PART XII, LINE 2C | COMMITTEE OVERSIGHT OF AUDIT: THE EXECUTIVE COMMITTEE ASSUMES RESPONSIBILITY FOR OVERSIGHT OF THE AUDIT OF ITS FINANCIAL STATEMENTS AND SELECTION OF AN INDEPENDENT AUDITOR. THERE HAS BEEN NO CHANGE FROM THE PREVIOUS YEAR. |
| SCHEDULE B, PART I | CICP FOUNDATION, INC. PROVIDED A GRANT TO CENTRAL INDIANA CORPORATE PARTNERSHIP, INC. (CICP) IN THE AMOUNT OF $90,000 IN 2020. THE GRANT IS RESTRICTED TO USE FOR EXEMPT PURPOSES. IT IS RESTRICTED TO WORKFORCE DEVELOPMENT EFFORTS. |
For Paperwork Reduction Act Notice, see the Instructions for Form 990 or 990-EZ.
Cat. No. 51056K
Schedule O (Form 990 or 990-EZ) 2020
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