Gayle S Rose Foundation Inc

“The following directors are employed by the supported organization: robert m. Fockler and mack e. Mccaul, jr. These class i directors of the organization are therefore not technically considered independent. However, as representatives of the supported organization, they ensure that the organization's mission is carried out. The following directors have a family relationship: gayle s. Rose and morgan d. Rose.”

“The foundation distributes the 990 tax return to the directors through email prior to the filing of it. The directors are requested to review it and respond back to the treasurer with any questions or concerns. If the treasurer does not have any unanswered inquiries after a reasonable period of time, then he will consider this as approval for the 990 to be filed.”

“Conflict of interest form 990, part vi, line 12a on an annual basis, all directors are required to review the conflict of interest policy and sign it to acknowledge intent of compliance.”

“The compensated officers of the foundation are employed by the related supported organization. All employees are compensated based on information obtained from job performance, salary comparability studies (including comparisons to other organizations' form 990), and other economic factors. Annually, the president of the supported organization uses this information to determine compensation for all employees of the organization, with the exception of his own compensation. The supported organization's executive committee reviews and recommends the compensation level for the president in the same manner as described above for other employees. During the annual budget process, the president includes the recommended compensation levels for all employees. The supported organization's executive committee reviews the recommended compensation levels and has the authority to make adjustments as deemed appropriate. Upon approval, the supported organization's entire board of directors reviews and approves the compensation levels by approval of the annual budget.”

“The foundation's form 990 return is maintained in the organization's office. This document is available upon request. Additionally, it is also available on the web site www.guidestar.org.”

“The foundation's governing documents, policies, and financial statements are maintained in the organization's office. These documents are available upon request.”

“The foundation is not audited as a separate entity. However, it is subject to audit during the combined audit of the supported organization and its affiliated organizations. These audited statements were reviewed in detail by the supported organization's audit committee, and subsequently accepted by the supported organization's directors. An unqualified opinion was issued by the independent accounting firm that performed the audit. These are the same procedures as prior year.”