Pathstone Development Corporation

“PathStone Corporation is the sole member of the organization.”

“PathStone Corporation elects all of the directors of the organization.”

“The only decisions of the governing body subject to the approval of the member are the decisions to dissolve the organization, to amend the by-laws and to divest the organization of corporate assets, individually or in the aggregate, in an amount greater than $25,000.”

“A draft copy of the return is distributed to the members of the board for comments before filing.”

“During the new board member orientation, the policy is fully explained by the President and attorney. The board member understands that it is important to follow the policy at all times during his or her term on the board. It is made clear that if any conflict arises, that the policy is in effect and should be followed. This is also re-emphasized annually when the policy is signed on a yearly basis. In addition to the Conflict of Interest Policy, the organization's parent Company, PathStone Corporation, has a questionnaire that all employees must fill out annually to determine whether they have a real or potential conflict of interest. If any potential conflicts are learned about through this or any other method, they are reviewed by the Executive Staff member for that division, and ultimately by the President/CEO of PathStone Corporation. The CEO of PathStone Corporation has the ultimate responsibility for determining whether or not a conflict exists and he or she, in conjunction with the Senior Vice President for Human Resources of PathStone and the Executive Staff member for that employee's division, will determine the course of action necessary.”

“PathStone Development Corporation only employs the President of the company. All other employees are officially employed by the parent company, PathStone Corporation. The wages and benefits of all top management employees are determined by the personnel committee of the parent company, PathStone Corporation, as part of its ongoing wage comparative studies and benefit budgeting process. The process includes independent review, comparability data, and deliberation by a compensation committee.”

“PathStone Development Corporation makes its governing documents (Bylaws and Certificate of Incorporation) available to the public upon written request. PathStone prints an annual report which is made public each year. Copies are mailed to stakeholders and it is readily available to the public.”

“Contracted Personnel Services: Program service expenses 675,462. Management and general expenses 199,644. Fundraising expenses 0. Total expenses 875,106. Consultant Fees: Program service expenses 34,990. Management and general expenses 0. Fundraising expenses 0. Total expenses 34,990.”

“Transfer from Related Parties -150,000.”

“The Organization's federal expenditures are included in the consolidated Single Audit Reports of the parent company, PathStone Corporation.”