Fairview Cemetery

“The owners of the lots are the members of the organization. Each grave, crypt, or niche gives the owner one vote in the organization. The members have the right to elect the members of this organization's board of trustees and have certain reserved powers as defined in this organization's bylaws.”

“The organization's federal form 990 was provided to its audit committee for review by its members prior to filing with the internal revenue service ("irs"). Subsequent to the audit committee review, the organization provided a copy of the form 990 to all members of its board of trustees for review. The audit committee has the responsibility to oversee, review and approve of the federal form 990, including the preparation, review and filing process. As part of the tax return preparation process the organization hired a professional cpa firm with experience and expertise in not-for-profit tax return preparation to prepare the federal form 990. The cpa firm's tax professionals worked closely with the organization's finance personnel ("internal working group") to obtain the information needed in order to prepare a complete and accurate tax return. The cpa firm prepared a draft federal form 990 and furnished it to the organization's internal working group for review. The organization's internal working group reviewed the draft federal form 990 and discussed questions and comments with the cpa firm. Revisions were made to the draft federal form 990 where necessary and a final draft was furnished by the cpa firm to the organization's internal working group for final review and approval prior to presentation of the federal form 990 to the organization's audit committee and thereafter provided to all members of this organization's board of trustees.”

“The organization has adopted a written conflict of interest policy. The organization regularly monitors and enforces compliance with this conflict of interest policy. Annually all members of the board of trustees and the organization's principal officer are required to review the existing conflict of interest policy and complete a questionnaire. The completed questionnaires are returned to the organization's assistant treasurer for review. Thereafter the organization's assistant treasurer prepares a summary of the completed questionnaires which contains information disclosed on an individual by individual basis and presents this summary to the board of trustees for its review and discussion.”

“Fairview cemetery is a new jersey based nonprofit corporation. This organization has an executive director that receives compensation directly from this organization. Accordingly, fairviews board of trustees reviews and approves the compensation and benefits of the executive director. The board reviews the "total compensation" of the executive director which is intended to include both current and deferred compensation and all benefits. The board's review is done on at least an annual basis and ensures that the "total compensation" of the executive director is reasonable. The actions taken by the board enable fairview to receive the rebuttable presumption of reasonableness for purposes of internal revenue code section 4958 with respect to the total compensation of the executive director. The three factors which must be satisfied in order to receive the rebuttable presumption of reasonableness are the following: 1. The compensation arrangement is approved in advance by an "authorized body" of the applicable tax-exempt organization which is composed entirely of individuals who do not have a "conflict of interest" with respect to the compensation arrangement; 2. The authorized body obtained and relied upon "appropriate data as to comparability" prior to making its determination; and 3. The authorized body "adequately documented the basis for its determination" concurrently with making that determination. The board is comprised of members of the board of trustees each of whom are independent and are free from any conflicts of interest. The board relied upon appropriate comparable data; specifically the board reviewed compensation packages of comparable organizations (nonprofit cemeteries in new jersey), the board adequately documented the basis for its determination through the timely preparation of written minutes of the board meetings during which the executive directors compensation and benefits was reviewed and subsequently approved. Please note that the organization does not have any other officers or key employees. If the organization has officers or key employees in the future, a compensation review and approval process similar to that of the executive director will be put in place and satisfy the three factors of the rebuttable presumption of reasonableness.”

“The organization's filed certificate of incorporation and any amendments can be obtained and reviewed through the state of new jersey department of treasury.”

“An independent cpa firm audited the financial statements of the taxpayer for the years ended december 31, 2016 and december 31, 2015; respectively, and issued a certified audited financial statement. An unqualified opinion was issued by the independent cpa firm each year. The organization's audit committee assumes responsibility for oversight of the audit of the taxpayer's financial statements and the selection of its independent auditor.”