Trf Development Partners Inc

“By-laws, article iii, section 2 states "the annual meeting of the sole member of the corporation shall be held at such time and place as the member may determine, during which meeeting trf, as the sole member, shall elect the board of directors of the corporation (the "board or "board of directors"). Article iii, section 1 states "the sole member of this corporation shall be the rinvestment fund (hereinafter "trf")".”

“The organization has engaged an independent firm (rsm us llp) to prepare form 990 in accordance with our audited consolidated financial statements. The form 990 is then reviewed by management and trf's audit and finance committee which is a sub-committee of the full board with fiscal and fiduciary oversight.”

“Comprehensive conflict of interest questionnaire is distributed annually to all board and committee members. Upon receipt of the questionnaire, all board and committee members have 60 days to return the completed questionnaire to the organization's human resource department. The completed questionnaires are reviewed and monitored by the human resource department and any potential conflicts are communicated to the organization's management and board.”

“The executive committee of the board of directors determines the compensation of the organization's ceo through a variety of sources, including competitor data and surveys. Additionally, the organization has engaged the services of an independent consultant to provide an opinion on the reasonableness of the compensation plan for the ceo and three top management officials using comparative data and survey data. The opinion letter for the ceo compensation is sent directly to the chairman of the board. The opinion letter for the three top management officials is sent directly to the ceo.”

“The organization makes it's governing documents, conflict of interest statement, form(s) 1023, 990 and financial statement available for public inspection upon request through its offices at 1700 market street, 19th floor, philadelphia, pa 19103. Governing document requests are evaluated and provided on a case by case basis. The organization's consolidated financial statements are also available on the reinvestment fund's website.”

“Non-controlling capital contribution -794,438. Prior period tax return adjustment 915,216. * the prior period adjustment is due to an error on the 2013 tax return for incorrect elimination of related party entities.”

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

“Trf development partners, inc. Has amended their form 990 to correct an error that occured in the elimination of a related party.”