East Baltimore Development Foundation Inc.

“The form 990 was prepared by rsm us in consultation with the chief financial officer and the controller of ebdi. The form was then reviewed with the president and chief executive officer as well as the audit committee of the ebdi board of directors in may 2016 prior to submission. The audit committee includes senior executives from a large foundation and partners with national and local accounting firms. The comments of the review team were incorporated into the final document and emailed to the full ebdi board of directors prior to submission.”

“Ebdf has a written conflict of interest policy. Key employees, officers and directors update their disclosure statement annually. Whenever there is reason to believe that an actual or potential conflict of interest exists between ebdf and an interested party, the board of directors shall determine the appropriate organizational response. Where the actual or potential conflict exists, the ceo shall review the matter and take appropriate action as necessary to protect the interests of ebdf. The ceo shall report to the chairman the results of any review and the action proposed to be taken. The chairman, in consultation with the executive committee, shall determine if any further board review or action is required. An interested party who has an actual or potential conflict of interest with respect to a proposed action or transaction with ebdf shall not participate in any way in, or be present during, the deliberations and decision making related to the proposed action or transaction.”

“Organizational documents, the conflict of interest policy and the financial statements are available to the public, for the same period of disclosure as set forth in section 6104(d), upon written request to the controller of ebdi. The ebdi controller will arrange a mutually convenient time for review at the main office of ebdi at 1731 east chase street, baltimore, maryland.”

“Ebdf is developing a written file retention policy as part of a governance review. The policy will be implemented as of july 1, 2016.”

“The officers of the organization are not compensated for their services performed for ebdf, but are paid for their services performed for east baltimore development, inc. (ebdi), a related organization. Ebdi's process for determining compensation of the top management official and other officers and key employees includes a review and approval by independent persons, comparability data, and contemporaneous substantiation of the deliberation and decision.”

“Ebdf owns a 1.176% interest in a partnership which was generated when ebdi, a related 501(c)(3) organization contributed funds received by the u.s. Department of health and human services and then transferred the partnership interest to ebdf. Ebdf does not normally participate in these types of joint ventures.”