Discalced Inc.

“The executive director, Nancy Umanoff and production manager, johan henckens have a family relationship.”

“the Board has determined to amend Article II, Section 10 and Article II, Section 11 of the By-laws of the Company as follows: Section 10 - Committees of the board. The Board, by resolution adopted by a majority of the entire Board, may establish an executive and other standing committees, and by resolution of a majority of the members of the Board in attendance at a duly convened meeting of the Board, shall appoint the members of any committee so established. The Chairman of the Board of Directors shall appoint the Chairman of each committee. Unless otherwise determined by the Board of Directors, each committee so appointed shall consist of three or more directors and, to the extent provided in the resolution establishing it, shall have all the authority of the Board except as to the matters" Section 11 Chairman and Co-Vice Chairmen of the Board The Board may select individual directors to serve as Chairman of the Board and one or more Vice Chairmen of the Board. The Chairman of the Board shall preside at all meetings and have such powers and perform such other duties as the Board may from time to time prescribe. One of the Vice Chairmen of the Board shall preside at all meetings from which the Chairman is absent and have such powers and perform such other duties as the Board may from time to time prescribe. The Chairman and each of the Vice Chairmen shall be authorized signatories of the Corporation.”

“Discalced, Inc. 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's submitted electronically to members of the organization's governing body for any comments prior to its submission. The governing body is provided with one week to review the prepared Form 990 and provide their comments. Any comments are then grouped, summarized and provided to the executive committee in charge of filing the return for their review. Each issue is documented and addressed until the return is finalized and approved for filing.”

“Discalced, inc. currently has in place a conflict of interest policy which it annually monitors and enforces. The board currently mandates that all members of management and the governing body annually sign a conflict of interest policy and disclose any potential or actual conflicts that may exist. The signed conflict of interest policy is kept on file and board members may not vote on an issue on which they have a conflict.”

“Discalced, Inc. has a compensation policy and a compensation committee was established for determining the compensation for the Executive Director, CFO, and other key employees. The policy mandates that executive compensation be periodically reviewed by the compensation committee and that the committee should be free of conflicts of interest. The approving compensation committee reviews appropriate and adequate data and uses a variety of information and studies that are available to determine that the appropriate level of compensation is being paid to its executives and key employees. The compensation committee's decision on the amount of compensation paid is required to be adequately documented in a contemporaneously written format that documents the date of the decision, the members present during the decision and those who voted on it, the full terms of the compensation that was approved and the comparable data used and relied upon to make the decision. The process was last time undertaken in 2014.”

“Discalced, Inc. 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. In addition, Forms 990 and 1023 as well as the financial statements, conflict of interest policy are available upon written request at 3 Lafayette Avenue, Brooklyn, NY, 11217, or by calling the organization directly at (718) 624-8400.”

“Musicians, Teachers, ACCOMPANISTS, Set and Costume Designers: Program service expenses 1,216,743. Management and general expenses 5,614. Fundraising expenses 4,609. Total expenses 1,226,966. Recruiting: Program service expenses 0. Management and general expenses 10,500. Fundraising expenses 0. Total expenses 10,500. archive project consultants: Program service expenses 70,000. Management and general expenses 0. Fundraising expenses 0. Total expenses 70,000. education and assessment consultants: Program service expenses 10,400. Management and general expenses 0. Fundraising expenses 0. Total expenses 10,400.”

“Discalced, Inc. has a committee that is responsible for oversight of the audit of its financial statements and selection of an independent accountant. This process has not changed from the previous year.”

“restatement of cash surrender value of life insurance -$132,967”