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Council discusses resurrecting Ceres Community Foundation after staff reports a larger-than-expected balance
Summary
Council discussed reconstituting the Ceres Community Foundation, a separate 501(c)(3) corporate fund; councilmembers noted past balances reported at about $128,000 but staff said finance reported a current figure of roughly $400,000 and stressed the foundation is separate from the city general fund and governed by its own bylaws.
Council members and staff discussed the status and governance of the Ceres Community Foundation (a 501(c)(3)) on Jan. 26 after a council referral from Councilwoman Otero.
Otero summarized the foundation's purpose and said records suggested the fund held approximately $128,000 in fiscal 2023–24. During discussion the finance director told the council that finance's most recent checking indicated "about $400,000" in the foundation account; staff said they would verify the number and provide a reconciled report to the council.
The finance director explained the foundation is a separate corporate entity with its own bylaws and a stand-alone account and that, under current articles of incorporation and bylaws, a director of finance may call a meeting to appoint directors. "The foundation is separate, does not come to council," the director said, noting the board votes on projects and issues quarterly finance reports. The city attorney added the council could not manage the foundation without changing its fundamental rules and filing amended bylaws with the IRS.
Public commenters asked how the board would be nominated and how the community would be informed; staff said public notice and transparency measures could be written into the foundation bylaws and that staff is working to compile historical records and financial statements for public review. The council did not take a binding vote to change the foundation's governance at the meeting but staff said they would continue reconstitution steps and return with additional details.
Next steps: finance to verify current balance and provide documentation, staff to prepare public-notice plans and potential bylaw amendments if council wishes to propose changes to the foundation's governance.
