The Real Estate Legacy Foundation Of

“A draft of the return is reviewed first by internal management. After internal management has reviewed and any changes are made, a draft is provided to the entire board of directors. Once comments from the board are reviewed, the final draft of the return is prepared and signed by the treasurer.”

“Officers, directors and key employees may not engage in activities that might interfere with the discharge of their responsibility or in transactions that reasonably might affect the judgment exercise on behalf of the organization. If there have been any changes that may be a potential conflict of interest, individuals should notify the president & ceo. Officers, directors and key employees are required to read and sign a conflict of interest disclosure form from time to time which the organization will keep on file. Officers, directors and key employees are always expected to use good judgment and to adhere to high ethical standards. In doing so, they will conduct their affairs in such a manner as to avoid any actual or potential conflict of interest. The organization believes that its officers, directors and key employees should not be inhibited solely because of potential conflicts of interest. In fact, the organization believes that conflicts of interest can best be handled through full disclosure of such interests, together with noninvolvement in any vote where such a conflict exists. Each officer, director and key employee is requested to provide annually to the president of cfl a list of offices and directorships he or she holds in charitable and business organizations, and to identify his or her place of employment or principal business activity. Officers, directors and key employees should disclose a conflict of interest: - prior to voting on or otherwise discharging his or her duties. - prior to entering any contract which comes before the board or any committee. - as soon as possible after the individual learns of a conflict of interest in any other context. Disclosures should be made to the board chair, president of cfl, or in the case of a committee, to the chairperson of that committee. The minutes of the meeting should reflect that appropriate disclosure was made, and that the interested party abstained from voting.”

“The organization does not have any employees currently; however, they follow the policies and procedures for determining compensation as established by the community foundation of louisville, inc. The executive committee of the community foundation of louisville, inc. Reviews market survey information annually to determine and approve a fair and reasonable compensation for the president/ceo and for the coo/cfo. The coo/cfo and president/ceo of the community foundation of louisville, inc. Review a market compensation study performed every other year to determine a fair and reasonable compensation for all other staff members.”

“The consolidated financial statements are available on our website and upon request. The governing documents and conflict of interest policy are not made publicly available.”

“The real estate legacy foundation of kentucky, inc. Is audited as part of the community foundation of louisville, inc. Combined group. The real estate legacy foundation of kentucky, inc. Is included in the community foundation of louisville, inc. And affiliates combined financial statements. The community foundation of louisville, inc. Has an audit/finance committee that oversees the audit of the financial statements and the selection of the independent auditor for the combined group.”