Blackacre Conservancy Inc.

“Due to changes within the board of directors and difficulties with attendance, minutes were not kept during the year for all board meetings.”

“Due to changes within the board of directors and difficulties with attendance, the finance committee did not meet on a regular basis nor were minutes kept during the year for finance committee meetings.”

“The audit firm prepares the form 990 with the guidance and assistance of management and the executive director. The executive director provides the significant narrative explanations and disclosures and carefully reviews all other reported items of financial operations and all other disclosures included in the form 990. The form 990 is discussed with the board and copies are available to the board for their review if requested.”

“Compensation of the executive director is determined by the board of directors. The finance committee assists with the determination of the salary range. Compensation of other key staff is determined by the executive director, finance committee and approved by the board of directors.”

“Blackacre conservancy, inc. Prepares an annual report which includes financial statements. This is available to the public. Information on who makes governing documents and how the conflict of interest policy is established is in the by-laws of the blackacre conservancy, inc. This information is available to the public upon request.”

“Rental management services: program service expenses 0. Management and general expenses 3,657. Fundraising expenses 0. Total expenses 3,657. Investment expenses: program service expenses 0. Management and general expenses 14,767. Fundraising expenses 0. Total expenses 14,767. Contract management: program service expenses 0. Management and general expenses 19,000. Fundraising expenses 0. Total expenses 19,000. Volunteer coordinator: program service expenses 0. Management and general expenses 75. Fundraising expenses 0. Total expenses 75.”

“The executive director has primary responsibility for the oversight of the audit and tax preparation process with the audit firm and reports to the board. Upon completion of the audit, the audit firm presents the audit report to the entire board for consideration, review and approval. The board decides on the process for the selection of the audit firm. This process generally includes requesting proposals from selected audit firms, meeting and interviewing with those firms who have provided proposals, and selecting the firm to provide the requested audit and tax preparation services. This interview and selection process is managed and coordinated by the executive director.”