East Baltimore Development Foundation Inc.

“Cps new market financial group, llc performs the review of monthly financial statements and completion of ebdi/ebdf finance committee and board packages for quarterly meetings. Cps also provided technical assistance and knowledge in completing the annual audit of ebdi/ebdf. Nicole m. Harrell, cpa, llc performs accounting consulting responsibilities which includes bank reconciliations, supervising of the accounts payable and receivable activity, financial reporting preparation, completion of annual audit and form 990 procedures. Financial activities are reported to the ceo. Cynthia swisher is the owner of cps new market financial group. Ms. Swisher was previously a trustee for ebdf until june 30, 2017. Ebdi paid cps new market financial group $68,685 for the above services during the tax year.”

“The form 990 was prepared by rsm us in consultation with the accounting consultant engaged by ebdi to assist with financial reporting, audit and tax forms. The form was then reviewed with the president and chief executive officer as well as the finance/audit committee of the ebdi board of directors in may 2019 prior to submission. The finance/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 ceo of ebdi. The ebdi ceo will arrange a mutually convenient time for review at the main office of ebdi at 1731 east chase street, baltimore, maryland.”

“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.”

“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.”