Sebastian Ferrero Foundation Inc

“Line 12a - conflict of interest policy although the foundation does not have a formal conflict of interest policy, article iv, section 12 of the bylaws address the issue of a conflict of interest in relation to the board of directors. The bylaws state that a director is expected to exercise his or her powers in the interest of the foundation and not in their individual interest or for any other person or entity. Any director who has potential conflict of interest with the business of the foundation must disclose the potential conflict and recuse themselves from any action related to the conflict.”

“The governing body has an agenda for every meeting. However, the governing body does not keep minutes.”

“The executive committee has an agenda for every meeting. However, the committee does not keep minutes.”

“A detailed review of the final form 990 is conducted by horst ferrero, president of the board of directors, and william t. Rossi, treasurer of the board of directors. A final copy of the form 990 is sent to all board members for review prior to filing.”

“The foundation has a compensation policy used to determine the salary of the top management official. The board of directors uses compensation surveys for similarly qualified persons in functionally comparable positions at similarly situated organizations. The performance and the compensation of the executive director shall be formally reviewed and approved by the board of directors periodically and the deliberations reflected in the meeting minutes.”

“The foundation makes its governing documents and financial statements available to the public upon request.”

“Form 990, part viii, line 8a - gross income includes other income of 10,316 for voided checks for other direct fund raising expenses deducted in the prior year.”

“The mission of the sebastian ferrero foundation is to advocate and fundraise for continued advancements in facilities, patient safety and innovative programs dedicated to delivering integrated pediatric care for all children and their families.”

“Sebastian ferrero foundation, inc. Was dissolved in 2018. On april 5, 2018, the foundation received a certificate of administrative dissolution from the state of florida. The governing body approved the dissolution and took steps to close the foundation. The final assets at the time of termination of the foundation consisted of cash funds which were distributed to a board approved 501(c)(3) organization in accordance to the foundation's articles of organization.”