Wilson Commencement Park

“The Board shall consist of not less than three (3) members. The elected officers of the Corporation shall be a Chairperson, who shall be elected from the current Directors; a Secretary and a Treasurer, neither of whom must be a member of the Board; and such other officers, if any, as the Board may from time to time elect. In addition, the Board may appoint an Executive Director in accordance with Section 12 of this Article V. Without limiting the foregoing, the Corporation shall have the following additional officers ex officio: (A) President, who shall be the chief executive officer of the Corporation and who is the Senior Vice President for Housing of PathStone; and (B) Vice President for Finance, who is the Chief Financial Officer of PathStone. Section 10. Treasurer: Powers and Duties. The Treasurer shall cause to be kept a full and accurate account of the receipts and disbursements of the Corporation and shall see that deposits of all monies are made in such insured banks as may be designated by the Board. The Treasurer shall see that periodic reports on the finances of the Corporation are made to the Board and that an audit is conducted at least yearly.”

“A draft of the form 990 is circulated to all board members for review and comment prior to the filing.”

“Prior to initial hire or election and annually thereafter, all officers, directors, and key employees shall complete, sign, and submit to the Secretary, a written statement identifying, to the best of their knowledge, any conflicts as defined in the policy. Conflict of interest statements are maintained by the Secretary of the board and a copy of each is provided to the Chairperson of the Audit Committee for review at least annually. The Board of Directors is notified of all identified conflicts.”

“Wilson Commencement Park does not have any direct compensation expense since all employees are officially employed by the parent company, PathStone Corporation. The wages and benefits of all top management employees are determined by the personnel committee of the parent company, PathStone Corporation, as part of its ongoing wage comparative studies and benefit budgeting process. The process includes independent review, comparability data, and deliberation by a compensation committee.”

“The governing documents, conflict of interest policy and financial statements are made available upon request.”

“Other Professional Fees: Program service expenses 0. Management and general expenses 10,075. Fundraising expenses 0. Total expenses 10,075. Salaries Paid by a Related Organization: Program service expenses 239,881. Management and general expenses 11,084. Fundraising expenses 0. Total expenses 250,965.”