The Intrepid Fallen Heroes Fund One Intrepid Square

“Winston fisher, a director of the intrepid fallen heroes fund, and martin edelman, a director of the intrepid fallen heroes fund, have business relationships with one another as partners at fisher brothers. Frank fertitta, who is a director of the intrepid fallen heroes fund, has a family relationship with lorenzo fertitta, who is also a director of the intrepid fallen heroes fund.”

“The organization 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 and approved by audit committee and is ready to be filed with the internal revenue service, it is 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 compliance officer or 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.”

“The intrepid fallen heroes fund currently has in place a conflict of interest policy which it annually monitors and enforces. The board currently mandates that all members of the governing body and officers annually sign a conflict of interest policy and disclose any potential or actual conflicts that may exist. The signed conflict of interest policy is submitted to the corporate compliance officer who reviews the signed attestations for potential or actual conflicts. If a potential or actual conflict of interest exists, the corporate compliance officer will notify member of management or the governing body about such conflict and investigate the conflict. The results of the investigation will be summarized and documented by the corporate compliance officer and be reported to the governing body. If the corporate compliance officer establishes that an actual conflict exists, the member of management or the governing body will be notified immediately and will not be allowed to vote or be a part of any decisions about any such transactions that have to do with the conflict until such time there is no longer a conflict.”

“The intrepid fallen heroes fund has established a written compensation policy for their board to follow in establishing the compensation for the ceo, executive director, top management official, other officers or key employees. The policy mandates that executive compensation be periodically reviewed by the board and that the board should be free of conflicts of interest. In addition, the board reviews appropriate and adequate data to determine the reasonableness of compensation being considered. The board uses a variety of information and studies that are available to determine that the appropriate level of compensation is being paid to its executives. The board's decision regarding the amount of compensation paid must be adequately documented in a contemporaneously written format, documented with the date of the decision, the members present during the decision and those who voted on it, the full terms of the transaction that was approved and the comparable data used and relied upon to make the decision. This policy and process for determining compensation for executives and key employees was last undertaken in fy18.”

“The intrepid fallen heroes fund makes its form 990 available for public inspection as required under section 6104 of the internal revenue code by posting it on their website as well as guidestar.org and other similar websites. In addition forms 990 as well as the financial statements, conflict of interest policy and governing documents are available upon written request.”

“The organization shares employees with intrepid museum foundation, inc. (imf). Compensation expense was allocated and recorded for the organization and imf for the following officers reported on form 990, part vii, section a as follows: name: david a. Winters title: president compensation expensed to intrepid fallen heroes fund: $145,198 compensation expensed to intrepid museum foundation, inc.: $145,199 name: lisa yaconiello title: vp/secretary compensation expensed to intrepid fallen heroes fund: $26,319 compensation expensed to intrepid museum foundation, inc.: $78,955”

“Adjustment made for uncollectable pledges -24,275.”

“The organization has an audit committee that is comprised of members of the board of trustees, the fund's president and cfo. This committee reviews all financial reports and statements, tax returns, and audit reports throughout the fiscal year; supervises the audit process and selection of the independent auditor. This process has not changed from the prior fiscal year.”