Stony Brook Foundation Realty Inc

“Board of Trustees members Cary Staller and Erwin Staller have a family relationship. Form 990, Part VI, Line 6 Stony Brook Foundation Realty's sole corporate member is the Stony Brook Foundation, Inc. Form 990, Part VI, Line 7a The Stony Brook Foundation Realty's Board of Trustees is self-perpetuating; however, both the President of SUNY at Stony Brook and the Chair of the Board are members of the Board by virtue of the organization's bylaws. In addition, the Executive Director of Stony Brook Foundation Realty shall be appointed by the Board in consultation with the President of SUNY at Stony Brook.”

“Organization's process used to review form 990 The Form 990 was prepared by an independent accounting firm in conjunction with the organization's financial department. A copy of the draft form 990 was circulated to the full board of trustees in either paper or electronic form for discussion and comment. Each board member was provided ample opportunity to comment on the information contained in the 990 prior to its filing with the Internal Revenue Service.”

“Stony Brook Foundation Realty, Inc. operates under the conflict of interest of Stony Brook Foundation, Inc. The Board of Trustees intends to formally adopt the policy at its next board meeting convened in may of 2016. Enforcement of Conflict of interest policy Pursuant to the Foundation's bylaws (article IV, Section 11), all Board of Trustees Members, officers and key employees are required to complete an annual conflict of interest certification. The Internal Revenue Service requires that the Foundation disclose relationships among current and certain former members of the Board of Trustees, officers, certain employees, family members, certain independent contractors and entities in which these individuals have an ownership interest. The Annual Certification requires each Trustee, officer and key employee of the Foundation to disclose in writing the existence of any potential conflicts of interest, to certify compliance with the conflict of interest policy and to agree to abide by it. The signed Certifications shall be maintained by the COO of the Foundation. If an individual becomes aware that he or she may be involved in a potentially conflicted transaction, he or she will immediately disclose the existence and material facts of his or her interest in the conflicted transaction to the Audit Committee or the Board of Trustees, as applicable. Board discussions pertaining to the conflict (and its resolution) are documented in the Board Minutes.”

“Stony Brook Foundation Realty, Inc. operates under the whistleblower and document retention policy of Stony Brook Foundation, Inc. The Board of Trustees intends to formally adopt both policies at its next board meeting convened in may of 2016. Form 990, Part VI, Section B, Line 15 Stony Brook Foundation Realty, Inc. does not compensate the officer, Dexter A. Bailey, Jr., reported on this Form 990 and so it does not undertake any procedures to determine his compensation. The process for determining his compensation are disclosed on the Form 990 of the related organization that pays his compensation.”

“Stony Brook Foundation Realty, Inc. makes its Form 990 available to the public by retaining a copy at its place of business. The Form 990 is likewise published on the internet at www.guidestar.org. The organization's financial statements, governing documents and conflict of interest policy are not ordinarily made available to the public, but, if requested, will be provided at management's discretion. Form 990, Part XI, Line 9 Additional Investment Income from K-1 Investment $683 Form 990, Part XII, Line 2(c) Stony Brook Foundation Realty, inc. does not receive its own standalone financial statements, but is included in the financials of its supported organization, Stony Brook Foundation, Inc. The Foundation has a committee that assumes responsibility for oversight of the audit of Realty's financial information.”