Woodlawn Foundation Inc

“The Treasurer prepares Form 990 and e-mails a completed draft to all Board Members and officers for review and comment. The Treasurer makes corrections and adjustments based on comments and suggestions of Board Members and officers. Finally, he or she signs and files Form 990 electronically.”

“Board Members and officers of the Woodlawn Foundation revisit the conflict of interest policy during the Board of Directors annual meeting in November. Each Board Member and officer discloses whether or not he or she has a conflict of interest by means of a signed statement listing conflicts, if any.”

“Any position whose reportable and non-reportable compensation exceed $80,000 is subject to the Woodlawn Foundation's Executive Compensation Policy including, but not limited to, the President, Executive Director, financial officers, management officers, and key employees. When applicable, the Executive Committee shall make its recommendation annually to the Board regarding the reasonableness of those positions. It shall rely upon appropriate data as to comparability in making its determination. Furthermore, it shall place such data and other reasons for its recommendation in the Minutes. Only those who are free of conflicts of interest may be involved in the evaluation of Executive compensation.”

“The Foundation's governing documents, conflict of interest policy, and financial statements are available for review in person during regular business hours at the Treasurer's office located at 56 Harrison Street, Suite 401, New Rochelle, New York 10801-6560. No appointment is necessary. The Foundation will also send paper copies of these documents via U.S. Postal Service, or an electronic copy via e-mail, upon request and without charge. Furthermore, the Articles of Incorporation, By-Laws, and the three most current Form 990's are available for review on the internet at woodlawnfoundation.org.”

“As a consequence of audits by an independent accounting firm of the consolidated financial records of the Woodlawn Foundation and its related parties for fiscal years ending June 30, 2013 and June 30, 2014, we adjust Woodlawn's net assets at the beginning of the year as follows: (a) increase of $50 for understatement of non-interest bearing cash accounts; (b) decrease of $50,083 in net balance of pledges receivable due to payments made against pledges; (c) increase of $275,875 to bring book value of investment in a limited partnership to fair value; (d) increase of $1,224,384 to bring book value of investment in a closely-held corporation to fair value; (e) increase of $43,128 in book value of program-related investments to remove prior year reserve for uncollectability of investment; (f) increase of $322,139 in value of assets under trust; (g) increase of $294,274 due to reduction of liability under trust agreements; and (h) decrease of $111,652 due to augmentation of liability under charitable gift annuity agreements.”