Naromi Land Trust Inc C/O Stephanie R Warren Treasurer

“Naromi land trust, inc. Made the following changes to its certificate of incorporation. A certificate of amendment was filed with the connecticut secretary of the state on 06/04/2019: changed manner of naming members named a registered agent added a 'catch all' sentence to corporation's activities and changed purposes to delete 'literary' purpose and purposes of publishing and disseminating educational and scientific materials and maintaining free library. Added limitation of liability provision for members and directors added indemnification provision for directors added a dissolution provision that requires all liabilities and obligations of the corporation be paid, satisfied or discharged or provision made for same, before assets can be distributed. Allows principal office of corporation to be outside the town of sherman, connecticut.”

“All contributors are members.”

“Members elect the board of directors.”

“Naromi land trust does not have any committees with the authority to act on behalf of the board.”

“Independent accountants prepare the form 990 and attachments based on information provided by naromi land trust, inc. The president, treasurer and executive director review the form 990. Form 990 is then presented to the board of directors in advance of filing for review, discussion and approval.”

“The conflict of interest policy requires immediate disclosure of conflicts by the directors. The land trust organization committee is responsible for monitoring compliance and enforcement of the policy. Each board member signs an annual statement confirming no conflict exists or identifying a conflict if one does exist.”

“The organization committee reviews available industry salary surveys to prepare its recommendation for the compensation of the executive director to the board of directors. The final compensation is determined and approved by the board of directors and documented in the approved budget.”

“Naromi makes all of its governing documents and financial statements available to the public upon request. At the annual meeting, year-end summaries of the activities, financial reports and structural changes, if any, are provided.”

“In december 2015 naromi land trust was notified that 24 acres of property in sherman previously received by donation were encumbered by a mortgage in default that was being foreclosed. The land trust defended their interest in the property and on september 18, 2019, a mortgage release was recorded in the sherman town records, clearing the property title. The value of the property had been written down to zero when naromi was informed that the land was encumbered. Naromi's successful defense of their title in the land resulted in an impairment recovery gain at the original value of the acreage for the year ended june 30, 2019, increasing net assets by $457,000”