Morc Real Estate Acquisition Co

“The cfo and controller review the first draft of the 990, and provide comments and changes to the preparer. The preparer creates a final draft for the cfo and controller. The cfo and controller review the final draft with the organizations' finance committee for comments and changes, which are incorporated into the final copy of the 990. Prior to filing, a final copy of the 990 is sent to board members then the organization files the 990 with the internal revenue service.”

“All employees, officers and directors are required to disclose conflicts of interest annually in an affidavit. During the year, the employee is required to make timely disclosure if a conflict arises prior to annual disclosure.”

“The organization leases employees from a related entity, morc inc. Morc's board of directors engaged the independent compensation consulting firm of rahmberg, stover and associates in 2011 to provide a comprehensive salary survey for all employment classifications, including the executive director. In 2012, the morc holding board engaged the services of organizational consulting group to complete a comprehensive market survey for executive staff. The two-person sub-committee of the board continued to be the primary contact related to making recommendations to the full board regarding compensation. The board of directors, excluding the executive director, who is also a board member, negotiated and approved a compensation arrangement for the executive director using the comprehensive salary survey and market survey. The deliberation and decision for approval of the executive director's compensation are documented in an employment agreement. The board of directors also approved the executive director to use the comprehensive salary survey and market survey in adjusting compensation arrangements for other officers and key employees. The deliberation and decision for approval of the executive director to adjust compensation arrangements for other officers and key employees are documented in board minutes. Furthermore, compensation arrangements for officers and key employees are documented in respective employee personnel files and employment agreements.”

“The organization makes its governing documents, conflict of interest policy and financial statements available upon request.”

“Equity earnings in subsidiaries 1,002,689.”

“The review process has not changed from the prior year.”