Edward Charles Foundation

“The form 990 is reviewed by the board prior to filing and then signed by the ceo/treasurer.”

“Each director, principal officer and member of the committee with governing board delegated powers annually signs a statement which affirms such person has received a copy of the conficlt of interest policy, read and understands the policy, agreed to comply with the policy, and understands the organization is charitable and in order to maintain its federal tax exemption it must engage primarily in activities which accomplish one or more of its tax-exempt purposes.”

“When compensating disqualified persons, the foundation adheres to the definition of reasonable compensation as set forth under section 53 4958-(b)(1)(ii) of the treasury regulations. That section provides that reasonable compensation is the amount that would ordinarily be paid for like services by like enterprises, whether taxable or tax-exempt, under like circumstances. Furthermore, any compensation the foundation pays to a disqualified person is approved in advance by the foundation's board of directors. It is approved pursuant to the procedures for establishing a rebuttable presumption of reasonableness under code section 4958 (and supporting treasury regulations). This procedure occurs in advance, by an independent group of board members based on appropriate comparability data. It is adequately documented that the board uses the rebuttable presumption of reasonableness under code section 4958 also to ensure that compensation does not constitute private inurement.”

“The organization's governing documents, conflict of interest policy, and financial statements, form 1023 and form 990 are available in office at any time.”

“Consulting: program service expenses 176,654. Management and general expenses 0. Fundraising expenses 0. Total expenses 176,654. Coaches, trainers, teachers: program service expenses 65,522. Management and general expenses 0. Fundraising expenses 0. Total expenses 65,522. Design advisors: program service expenses 43,138. Management and general expenses 0. Fundraising expenses 0. Total expenses 43,138. Photographers: program service expenses 4,700. Management and general expenses 0. Fundraising expenses 0. Total expenses 4,700. Videographers: program service expenses 94,500. Management and general expenses 0. Fundraising expenses 0. Total expenses 94,500. Other professional fees: program service expenses 413,110. Management and general expenses 0. Fundraising expenses 0. Total expenses 413,110.”