Detroit 300 Conservancy

“Effective october 1, 2009, downtown detroit partnership, inc. ("ddpi"), a 501( c) (3) organization, became the sole member of detroit 300 conservancy ("d300").”

“Ddpi, as the sole member, shall be required to elect (or remove ) the board of directors of d300.”

“Ddpi, as sole member, shall approve any amendments to the articles of incorporation or by-laws, approve the selection of auditors for the corporation, and approve any direct or indirect transactions between the corporation and either the board member or officer than contracts of employment entered into in the ordinary course of business providing reasonable compensation, and contracts for reimbursement of expenses actually and necessarily incurred in the performance of duties on behalf of the corporation. In addition, any other cases when required by law.”

“There are no committees with authority to act on behalf of the governing body.”

“The audit committee reviews and approves the return before filing. The board of directors reviews the annual audit, which is used to provide the form 990 information.”

“All board members are included under the conflicts of interest policy. Board members are required to disclose any conflicts of interest and any disclosures are included in meeting minutes. No restrictions are imposed, but any conflicts are disclosed and documented.”

“The organization provides any document open to public inspection upon request.”

“Security/ambassador services: program service expenses 332,128. Management and general expenses 0. Fundraising expenses 0. Total expenses 332,128. Event operations services: program service expenses 0. Management and general expenses 568,084. Fundraising expenses 0. Total expenses 568,084. Placemaking: program service expenses 1,798,229. Management and general expenses 0. Fundraising expenses 0. Total expenses 1,798,229. Park & rink maintenance: program service expenses 873,722. Management and general expenses 0. Fundraising expenses 0. Total expenses 873,722. Holiday lighting: program service expenses 230,186. Management and general expenses 0. Fundraising expenses 0. Total expenses 230,186. Park event express: program service expenses 90,186. Management and general expenses 0. Fundraising expenses 36,136. Total expenses 126,322. Other expenses: program service expenses 0. Management and general expenses 86,571. Fundraising expenses 0. Total expenses 86,571.”

“Net assets released from restrictions related to fundraising expenses 36,136.”