Erf Real Estate Inc

“Form 990, part vi, line 11b - organization's process to review form 990 each director receives a copy of the form 990 in advance of board meeting. The ceo reviews and discusses the form 990 in detail during the meeting then answers all questions raised by directors. After review and discussion, the board takes formal action to approve the form 990 and reflects in meeting minutes.”

“Form 990, part vi, line 12c - enforcement of conflicts policy the organization requires each director to acknowledge the conflict of interest policy on an annual basis. Directors are also required to annually disclose any potential ongoing or potential future conflicts of interest. The board addresses the potential conflicts in accordance with the written conflict of interest policy. Evidence of the annual review is noted in board minutes with submitted forms retained by board secretary.”

“Form 990, part vi, line 15a - compensation process for top official compensation for the directors and officers is based on recommendations received from legal counsel. Legal counsel retains qualified independent compensation consultants to review roles and responsibilities against market surveys, site visits, and interviews with each director and officer. The compensation consultants perform additional review and analysis as necessary to substantiate its recommendations. Form 990, part vi, line 15b - compensation process for officers compensation for the directors and officers is based on recommendations received from legal counsel. Legal counsel retains qualified independent compensation consultants to review roles and responsibilities against market surveys, site visits, and interviews with each director and officer. The compensation consultants perform additional review and analysis as necessary to substantiate its recommendations.”

“Form 990, part vi, line 19 - governing documents disclosure explanation all documents required to be made available to the public by the internal revenue service or by the governing laws of the state of texas are available upon written request. These documents include, but are not limited to, the certificate of formation, financial statements, and form 990.”

“Compensation for the directors and officers is based on recommendations received from legal counsel to the ed rachal foundation, a related entity. Legal counsel retains qualified independent compensation consultants to review roles and responsibilities against market surveys, site visits, and interviews with each director and officer. The compensation consultants perform additional review and analysis as necessary to substantiate its recommendations.”

“Part iii, line 1 - the organization is organized and operated for the exclusive purpose of holding title to real estate, collecting income therefrom, and turning over the entire amount thereof, less expenses, to the ed rachal foundation (ein: 74-1116595), a section 501(c)(3) private foundation”

“Part 1, line 1 - the organization is organized and operated for the exclusive purpose of holding title to real estate, collecting income therefrom, and turning over the entire amount thereof, less expenses, to the ed rachal foundation (ein: 74-1116595), a section 501(c)(3) private foundation”

“Capital contributions 21,366,958. Unrealized gain/(loss) on fixed assets -9,107,846. Income transferred to erf 599,870. Other qualifying distribution 290,471.”

“Line i - the organization's financial information is consolidated in the financial statements of the ed rachal foundation, a related entity. The accounting basis of both entities is tax basis accrual. There are no differences between amounts reported for book or for tax purposes. Presenation is consistent with prior years' reporting.”