Tory Burch Foundation Inc

“Tory burch (founder and director), robert isen (chairperson), and james robinson (secretary) have a family relationship. Tory burch (founder and director) and robert isen (chairperson) have a business relationship.”

“Tory burch foundation, inc. ("foundation") delegated control over management duties to tory burch llc ("llc") through a services agreement. Under the agreement, the llc has management control over organization management, accounting and finance, and fundraising and development. For the short year ending december 31, 2024, the foundation paid the llc $60,000 for management services. Tiffany dufu, president, is compensated by the llc. The foundation reimbursed the llc for their compensation in accordance with the services agreement in place. Total compensation paid for services provided by tiffany dufu was $90,449 in sy2024.”

“Tory burch foundation has its form 990 prepared by an outside accounting firm and has established the following review process to ensure that the information reported is complete and accurate. When the form 990 has been prepared, reviewed by management, and is ready to be filed with the internal revenue service, it is electronically transmitted to the finance/audit committee for review and approval. It is then approved by the full board of directors at the recommendation of the finance committee prior to submission to the irs.”

“Tory burch foundation has in place a conflict-of-interest policy, which applies to all directors and principal officers. Each director and officer is required to sign a conflict of interest disclosure statement annually. An interested person must disclose as soon as practicable to the directors the existence of a potential conflict of interest and all material facts related to the conflict. In the event that a conflict of interest arises, the interested person with whom the conflict pertains to is excluded from voting on the issue. He/she leaves the room and the remaining board decide if a conflict of interest exists. With respect to any board discussion, decision, or actions involving transactions in which a director or officer has a conflict of interests, the minutes of the governing board will reflect the board's deliberations and voting process.”

“The organization makes its form 990 available for public inspection as required under section 6104 of the internal revenue code. The return is posted on the organization's website. In addition, the financial statements, conflict of interest policy, form 990, form 1023, and by-laws are also available upon written request.”

“Embrace ambition/other outside services fees: program service expenses 127,126. Management and general expenses 3,368. Fundraising expenses 7,250. Total expenses 137,744. Strategic planning consultants: program service expenses 76,082. Management and general expenses 169,824. Fundraising expenses 0. Total expenses 245,906.”

“The foundation's finance & audit committee assumes responsibility for oversight of the audit, of its financial statements, and selection of an independent accountant. This process has not changed from the prior year.”