Mary Beecher Longyear Trust

“The trust was created for the purpose of providing financial support to longyear foundation ("longyear"), a massachusetts corporation which is tax-exempt under irs section 501(c)(3). Both organizations were established in the 1920's by a single benefactor and for the common purpose of advancing the understanding of the life and work of mary baker eddy, the discoverer, founder, and leader of christian science. Longyear operates a museum and eight historic houses and offers exhibits, publications, and programs to the public. Longyear has the right to appoint trustees when vacancies occur. The trust is not subject to a separate audit; however, its activity and balances are included in the audit of longyear. Longyear's audited financial statements, in accordance with gaap, reflect combined assets and activity of longyear and the trust. The original trust documents provided for two named trustees to manage the trust in perpetuity. While the trust has separate governing documents and distinct trustees from longyear, longyear has the right to appoint trustees of the trust and trustees of the two organizations work together as needed to fulfill the mission of the two organizations.”

“Longyear has the right to appoint trustees of the trust. The original trust agreement provided that the benefactor would fill vacancies of the named trustees of the trust, and after her death, that trustees of longyear foundation would fill such vacancies in the trustees of the trust.”

“The trust is not an operating entity, has no employees or staff and exists solely as a perpetual endowment to support longyear foundation, as discussed above. Its assets consist of investment holdings and its activity consists of investment income and investment and administrative expenses. The organization is governed in accordance with the trust documents and ma law. There are no minutes of meetings and no committees. Policies and procedures such as for whistle-blowers or compensation review procedures are not relevant to this business.”

“The trust has no committees.”

“The trustees receive the 990 for review before it is signed and submitted to the irs.”

“There are no employees or managers for the trust. The trustees oversee and contract for investment services with attention to industry standards for fees paid for such services. The trustees of longyear foundation monitor and approve the methodology for payment of fees to the trustees of the trust.”

“The trust makes its governing documents and financial statements available to the general public upon request.”

“This process has not changed from the prior year.”