Trinity Second Century Foundation

“Trinity United Methodist Church appoints the board members of the organization.”

“The Form 990 was prepared by an independent CPA firm. A draft of the 990 is reviewed in detail by the President and Treasurer. The reviewed draft is then distributed to all board members before it is filed with the IRS.”

“Each board member signs an annual conflict of interest statement. If there is a failure to disclose, disciplinary and corrective action shall be taken as the board shall determine. The Board Treasurer and another board member monitor and enforce compliance with the policy. Should any potential conflicts of interest be disclosed, the board member or officer would be asked to refrain from participation in any deliberation or decision with regard to matters affected by the relationship.”

“The organization does not have a top management official, top financial official, nor other officers. Therefore, these lines were answered no in accordance with the instructions.”

“The Foundation's governing documents, conflict of interest policy and financial statements are available upon request from the organization.”

“In accordance with the principles of FASB ASU 2016-14 (ASC 958), the organization has implemented required changes to its audited financial statements for the period ended 12/31/2018. To date, Form 990 and its associated schedules have not been updated to reflect changes made by this standard. Thus, we have reported the revised net asset categories from the audited financial statements as follows on Form 990, Part X, Lines 27-29: Line 27 - Net assets without donor restrictions $ 0 Line 29 - Net assets with donor restrictions $1,254,472 Total net assets $1,254,472”

“The board of directors assumes responsibility for oversight of the audit of its financial statements and selection of an independent accountant. This process has not changed since the prior year.”