Holcomb Farm Inc.

“The corporation is a membership corporation. There are two classes of members as follows: a. Town membership: the town of granby shall be the sole member in this class, and shall be referred to herein as the "town- or the "town member." the town member shall excercise its membership rights and all communications to and from the town through its board of selectmen's designee. The town member may vote by proxy, and shall not pay any dues to the corporation. B. Family membership: all other memberships in the corporation shall be referred to as "family memberships." a single family membership shall apply to any individual, or to any couple or family living in a single residence. Each family member (whether the family member is an individual, a couple or a larger family) shall be entitled to one vote on any matter submitted to members for action. Family members may not vote by proxy. The board of directors of the corporation may from time to time adopt and amend the rules that shall apply to the qualifications and rights of family members, including annual membership dues to be paid by family members.”

“Sixy percent (60%) of the total number of directors elected in any given year shall be elected by the family members. Forty percent (40%)of the toal number of directors elected in any given year shall be elected by the town member. All directors elected by the family members must be subsequently approved by the town member.”

“The organization provides copies of the form 990 to all members of the governing body before filing the form. Board members are asked to review the form before it is filed.”

“The organization regularly monitors compliance with the conflict of interest policy.”

“Board reviews overall compensation issues and brings in independent parties as needed.”

“Board reviews overall compensation issues and brings in independent parties as needed.”

“All documents are available upon request.”

“Holcomb farm, inc. Is exempt from income taxes under section 501(c)(3) of the internal revenue code. The organization's informational returns for years 2016 through 2018 are subject to examination by the internal revenue service. Effective october 1, 2009, the organization implemented the accounting guidance for uncertainty in income taxes using certain provisions of asc 740, income taxes. Using this guidance, tax positions initially need to be recognized in the financial statements when it is more-likely-than-not that the position will be sustained upon examination from the tax authorities. As of december 31, 2019, the organization has no uncertain tax positions that qualify for either recognition or disclosure in the financial statements and believes that it has appropriate support for income tax positions taken in its tax returns.”