Petco Love

“Line 2 explanation - the following board members have a business relationship with petco love: susanne kogut, justin tichy, aaron weiss, david hallisey, and whitney miller.”

“Line 3 explanation - and part vii, section a: petco animal supplies, inc. ("petco"), an unrelated corporation, provides management services to petco love. Under the management services agreement, the parties believe that the sharing of petco's resources and services will most efficiently allow petco love to effectively carry out its charitable mission. As such petco love activities are carried about by petco employees that are dedicated to the work of petco love, most on a full time and some on a part-time basis, and for which petco love fully reimburses petco. Under the management services agreement, the parties have carefully maintained and continue to maintain separate corporate identities, existences, operations, finances, and headquarters. Petco love's board retains control over the organizations governance, policies, budget and contract approval, mission and programs to preserve the independence and tax-exempt status of the organization. For the calendar year 2023, the following petco employees also served as officers or directors for petco love on a voluntary basis and were not compensated for their services to petco love: justin tichy, board chair and director whitney miller, director aaron weiss, director david hallisey, director for the calendar year 2023 the following petco employees provided services as officers of petco love on a compensated basis: susanne kogut president/executive director reportable compensation $416,858 other compensation $8,878 caroline childress cfo reportable compensation $223,858 other compensation $4,345”

“The organization does not have any committees with authority to act on behalf of the governing body.”

“Line 11b explanation - form 990 is prepared by an outside tax preparer and reviewed by management of the organization and reviewed and approved by the audit committee. Prior to the filing of the form 990, a final copy is presented to the board of directors for review and comment.”

“The organization monitors its conflict of interest policy by having all officers and directors complete annual conflict of interest statements. These annual disclosures are reviewed and addressed by the board's governance committee. If it is determined that a conflict of interest exists, that individual cannot participate in the deliberations or vote with respect ot transactions related to the conflict.”

“The executive committee of the board of directors annually reviews the compensation of the president and the senior management team of the organization. The process includes the following: 1) a review of comparative data for salaries of the president and senior manager compensation gathered using independent salary survey data; 2) a review of the performance evaluation of the president and senior management; 3) a determination of compensation warranted after review and discussion of materials; and presentation to the board of directors for approval for the president's salary. No person whose compensation is reviewed under this process has any vote regarding the level of compensation. Petco animal supplies, inc. Is reimbursed, by agreement, as management services expense, for the portion of compensation concerning petco love.”

“Governing documents, conflict of interest policy, and financial statements are made available to the public upon request.”

“Impairment loss on goodwill and intangible assets -3,661,667.”

“The date of the fiscal year end reported is may 4, 2024. However, due to electronic filing requirements that would not accept the date, we have adjusted for filing purposes. This 990 is consistent with our fiscal year and our audit. To file with a fiscal year that is not recognized as our fiscal year end would be confusing to the reader and inconsistent with all prior 990 filings of the organization. Therefore, we have adjusted as any differences in this filing would be immaterial to the financial positions as presented.”