Maine Timber Research and Environmental Education Foundation

“The 990 is reviewed by the Executive Director for accuracy of financial information and disclosure before distribution to the Foundation Board for review. Comments from the Board are submitted to the Finance Committee. Upon completion of the Board review, the final 990 is reviewed and signed by the Executive Director.”

“In the event of a potential conflict involving Board members, it is the obligation of the Board member to bring the matter to the attention of the President of the Board who will refer the matter to the Executive Committee of the Board to review, make recommendations and disclose actions taken at the next board meeting. The facts and circumstances surrounding the potential conflict and the recommended course of action to be taken to mitigate the Foundation's participation in the conflict will be documented. At a minimum the mitigation actions should include asking the individual involved in the potential conflict to recuse him or herself from any involvement in decisions pertaining to the potential conflict.”

“Compensation for the Executive Director and other key employees is determined by the President and approved by the Board of Directors.”

“The Maine Tree Foundation makes its governing documents, conflict of interest policy and financial statements available to the public upon request.”

“Merger with The Holt Woodlands Research Foundation 2,700,908.”

“Maine Tree Foundation merged with The Holt Woodlands Research Foundation (EIN 94-2782495) (HOLT) on January 31, 2014. The tax exempt purpose of Holt was "to assist and support the University of Maine in accomplishing its charitable and educational programs by providing real and personal property for the conduct of scientific research and experimentation in forestry and for the funding of programs and for the awarding of scholarships and grants to projects and students involved in forest research, conservation, replantation, management and ecological control". It is agreed between the two parties that Maine Tree Foundation will ensure the continuance of the study and research activities of Holt Research Forest (HRF)including, but not limited to, maintaining and enhancing the working relationship with the University of Maine, College of Natural Sciences, Forestry and Agriculture, encouraging faculty members to pursue research activities that make use of the HRF and its facilities, pursuing and facilitating, where appropriate research projects and collaborations with other colleges, universities and research entities, and making use of the HRF in connection with Maine Tree Foundation's existing educational activities. It is agreed between the two parties that the research activities conducted at the HRF will be supported by the Holt Endowment, which will be maintained as an endowed fund, and will be held, administered and disbursed in accordance with the Agreement and Plan of Merger. All assets and income of Holt are now reported under Maine Tree Foundation as the surviving organization.”