I-Park Foundation Inc.

“The Foundation has its Form 990 prepared by an outside accounting firm. It has established a review process to ensure that the information reported is complete and accurate and that input is solicited from the board of directors. Once the Form 990 has been prepared by the outside accounting firm, it is reviewed by the President and Executive Director. Next, it is e-mailed to the board for review. A subsequent conference call among the officers and board is organized to elicit questions and comments. Upon approval, the document is submitted to the Internal Revenue Service.”

“At each annual meeting, all directors and officers sign off on a memo that restates the Foundation's Conflicts of Interest Policy. At that time, any actual or perceived conflicts are reported or disclosed and discussed. If conflicts of either sort have developed in the course of the year, the matter is resolved by either eliminating the conflict or by memorializing the issue in the minutes, indicating why an actual conflict did, or does not, in fact, exist - or explaining why the exception has caused no harm. Also, in the case of any material issues, the Board has the option of requesting a legal opinion.”

“The Foundation makes its Forms 990 and 1023 available for public inspection as required under Section 6104 of the Internal Revenue Code. The return is posted on guidestar.org and similar websites. In addition, the financial statements, Conflicts of Interest Policy, Articles of Incorporation, Form 990, Form 1023 and By-laws are available upon written request or by calling the organization directly.”

“During the time that this return was being prepared, the Foundation was in the process of considering a Whistleblower Policy and a Document Retention and Destruction Policy. The organization plans to adopt the Whistleblower Policy and a Document Retention and Destruction Policy by its next annual meeting in May of 2015.”

“The Foundation formed an Audit/Finance Committee in 2013 that is responsible for reviewing internally prepared quarterly financial statements and the annual budget before its presentation to the full board. It is also responsible for evaluating the adequacy of the Foundation's insurance coverage and operational risk management procedures. This committee also reviews the annual compilation report prepared by the independent accounting firm and makes an annual recommendation to the board with respect to retention or replacement of the firm, including oversight of the selection process for a new firm in the event such a change is considered necessary.”