River Terrace Estates Foundation Inc

“River terrace estates, inc., a related tax-exempt organization, is (together with its successors) the sole member of the organization.”

“As the organization's sole member, river terrace estates, inc. Shall elect the board of directors.”

“As the organization's sole member, river terrace estates, inc. Shall approve the following: (a) authorize the corporation to enter into any contract or engage in any transaction where the amount involved exceeds $1,000,000; (b) approve long-term borrowing of money by the corporation or any affiliate thereof for capital needs; (c) adopt any new, or any changes to existing, long-term or master institutional plans of the corporation; (d) adopt a plan of dissolution of the corporation; (e) authorize the corporation to engage in, or enter into, any transaction providing for the sale, mortgage or other disposition of all or substantially all of the assets of the corporation; (f) adopt a plan of merger or consolidation of the corporation with another corporation; or (g) organize or acquire, or authorize the organization or acquisition of, any subsidiary or affiliate of the corporation.”

“The organization does not have any committees of the board of directors.”

“Prior to filing the return with the irs, a draft of the completed form 990 is reviewed by the organization's ceo. Subsequent to this review, the completed and final form 990 is presented to the full board for review and is subsequently filed with the irs.”

“The organization adopted a conflict of interest policy that requires each director and officer to sign a written statement and disclose any conflict of interest. A component of the policy requires that any director or officer with a conflict is prohibited from voting on any matter in which there is a conflict. The ceo of the organization monitors and enforces compliance with the conflict of interest policy on a regular basis and the board of directors monitors the ceo.”

“Various public and private entities may require the filing of such documents as part of a regulatory or contractual commitment, and as a result of such obligations, certain of these materials may, in fact, be available to the public. Outside such disclosures, the organization's governing documents, conflict of interest policy, and financial statements are not routinely made available by the organization to the public. Notably, financial statements, governing documents, and conflict of interest policies are not required to be disclosed to the public pursuant to irc section 6104.”

“The primary beneficiary of the organization's support is it's sole member, river terrace estates, inc. Due to the financial and operating issues of river terrace estates, inc. They entered into bankruptcy protection in 2014. As part of the bankruptcy proceedings the assets and operations of river terrace estates, inc. Were sold to an unrealted for profit company and the liabilites were forgiven. The sale and transfer of operations occured on february 1, 2015. After the sale was complete there wree no further operations for the organization to support in accordance with it's by-laws and tehrefore the organization has elected to cease operations.”