The Helena Devereux Foundation

“Devereux Corporation is the sole member of HDF. Certain governance decisions of HDF must be ratified by Devereux Corporation's board. The HDF board has 5 members, one of whom also serves on Devereux Corporation's board. Subsequent to June 30, 2024, 3 additional independent trustees were elected to the board: Jerome Lombard, Alexander Carles, and George Magnatta.”

“The Form 990 is provided in Hard-copy or electronically to all board members in advance of the filing deadline. Board members are requested to provide comments or questions to the CFO. The comments are reviewed by the CFO, who directs the response to all board questions, and where appropriate directs changes to be made to the Form 990.”

“HDF has adopted the conflict of interest and governance policies of Devereux, and its affiliated entities. Representatives of HDF and of Devereux dealing with clients, parents, guardians, vendors, competitors or anyone who does or seeks to do business with Devereux are required to act in Devereux's best interests, disregarding any personal preference or advantage. Representatives shall make prompt and full disclosure to his/her manager and to the Internal Audit Department (and, in the case of trustees and senior managers, to the Board's Audit & Compliance Committee) via the Devereux Conflict of Interest form of any prospective or actual situation that involves, may involve, or might appear to involve a conflict of interest. Annually, a copy of Devereux's business ethics policy is mailed, e-mailed or delivered via the Devereux board website to trustees, officers, directors and key personnel (including Devereux employees) along with the annual Conflict of Interest Disclosure Statement, which must be signed and returned to the Vice President for Audit & Compliance within 30 days. The annual disclosure requires an acknowledgement of understanding of Devereux's business ethics policy, as well as disclosure of any conflict, or appearance of a conflict, between personal interests and the interests of Devereux. Failure to comply or falsification of disclosure may result in disciplinary action, including possible dismissal. All Annual Conflict of Interest Disclosure Statements identifying a conflict or potential conflict are reviewed by the Vice President of Audit & Compliance and any other officers or senior management determined to be appropriate and submitted to the Audit & Compliance Committee of the Board of Trustees for review.”

“HDF does not directly compensate its Trustees or Officers. Compensation is paid by Devereux, which provides services to HDF under a management agreement. The management fee, which includes an estimate for the fair market value for use of facilities, was $94,128 for the year ended June 30, 2024.”

“HDF's Form 990 is available to the public through posting on Guidestar (www.Guidestar.org). It is also available upon request and summarized financial information is included in our Annual Report, which is distributed to constituents and posted in consolidated form on the Devereux website. HDF is audited as part of Devereux's Consolidated Group and does not have separately audited financial statements.”

“HDF is a supporting organization of Devereux and its affiliated entities and manages and invests funds to support Devereux's activities. HDF does not maintain separate facilities and operates at 444 Devereux Drive, Villanova, PA 19085. HDF has also loaned a total of $28,089,014 to Devereux since 2011 to finance various capital projects at several of its locations. As of 6/30/2024, $4,280,301 of the total loaned has been repaid to HDF. Devereux paid HDF $516,826 in interest during FY 23 related to these loans.”

“The Helena Devereux Foundation's (HDF) assets consist 100% of investments.”

“Other changes in net assets or fund balances are due to intercompany net asset transfers.”