Elant Foundation Inc

“Elant inc. Is the sole member of elant foundation.”

“The sole member shall have the sole power and right to elect the directors of the corporation and to exercise such powers and rights as are granted to the sole member pursuant to applicable provisions of law.”

“For each of the following, the sole member has the authority to approve such action, or if the sole member receives a recommendation from the corporation as to any such actions, the sole member may approve such action as recommended. (1) approval of strategic plans; (2) approval of capital budgets; (3) approval of operating budgets; (4) approval of debt; (5) authority to combine and centralize administrative and support functions; and (6) approval of the submission of con applications.”

“Elant foundation has its form 990 prepared by an outside accounting firm and has established the following review process to ensure that the information reported is complete and accurate. When the form 990 has been prepared, reviewed by management and is ready to be filed with the internal revenue service, it is electronically sent to the board members of the organization for any comments. Any comments are then grouped, summarized and provided to the outside accountants. Each issue is documented and addressed until the return is finalized and approved for filing.”

“Annually board members, officers and key persons have to fill out the conflict of interest policy. A potential conflict may exist if a board member, officer or key person, or his/her immediate family seeks to engage in a transaction with elant or has an interest in a vendor that could be viewed as potentially compromising the person's loyalty to elant. Each board member shall immediately advise elant's chief compliance officers of any changes to that may result in a conflict. If the person is not certain whether the matter poses a potential conflict of interest, he/she should discuss the matter with the chief compliance officer ("cco") and elant's counsel. The cco shall review all complete questionnaires, all subsequent advice of changes and all disclosures of interest and potential conflicts of interest. All potential interest will be reported to the governance committee by the cco. The governance committee shall determine whether a reported interest or potential conflict is in fact a conflict of interest, by a majority vote of disinterested members of the committee. If the determination is that a conflict actually exists, then the full committee shall determine the action that needs to be taken. Upon completion of its review, the committee shall report its findings and recommendations to the board. After due deliberation, the board shall determine the action to be taken based on the best interests of elant. The affected person shall be provided an opportunity to address the committee, and by majority vote of the board, may address the board, but may not otherwise be present or participate in the deliberations of the committee or the board and shall not be counted for determining if a quorum is present.”

“The organization makes its form 990 available for public inspection as required under section 6104 of the internal revenue code. The return is posted on guidestar.org and other similar types of websites. In addition, the financial statements, conflict of interest policy, articles of incorporation and by-laws are also available upon written request.”

“The full board assumes responsibility for oversight of the audit of its financial statements and selection of an independent accountant. This process did not change from the prior year.”