Stark Community Foundation Inc.

“Members of the organization, the foundation's members are the active voting directors of the foundation. All living persons who were at any time members of the distribution committee of the unincorporated stark community foundation are honorary, non-voting members.”

“Election of members of the governing body, the directors have established a nominating committee which consists of not less than 2 directors and 1 member who is not a director. The committee's responsibility is to nominate members of the distribution committee as set forth in the resolution and declaration of trust creating the stark community foundation. Such members of the distribution committee are directors of the foundation.”

“Decisions subject to approval of members, an affirmative vote by the majority of the foundation's members is required to adopt or approve the following: - liquidation or dissolution. - merger, consolidation, or transfer of substantially all of the assets. - repeal, modification, amendment in whole or in part, or addition to the articles of incorporation or regulations or adoption of new articles of incorporation or regulations.”

“Review of form 990, the foundation's audit committee meets with the independent auditor to discuss the form 990 prior to filing. Also, a copy of the form 990 is provided to all directors of stark community foundation.”

“Monitoring and enforcement of conflict of interest policy, the foundation requires that all trustees, officers, and directors annually file a statement listing any business or personal financial dealings or affiliations with charitable organizations which would have any impact on the assets or transactions of the foundation. This statement is given to the president of the foundation who in turn would disclose such information to the distribution committee or board of directors in the normal course of reviewing possible gifts or grants presented for approval. Any person with a conflict of interest on the gifts or grants presented for approval would then abstain from voting.”

“Review of compensation, the foundation's personnel committee recommends the level of compensation for executives, and their recommendations are presented to the board of directors for final approval. The committee considers salary data on comparable executives, both within northeast ohio and statewide (from the forms 990 of foundations and not-for-profit organizations) and at the national level (from the council on foundations annual salary survey). Individuals on the personnel committee and board of directors are independent of the employees whose compensation is being determined. Salary deliberations of the personnel committee and the board of directors are documented in the minutes of both bodies.”

“Availability of governing documents, financial statements for the foundation can be found at the foundation's website http://www.starkcf.org . Governing documents and the foundation's conflict of interest policy are available by request and are mailed/e-mailed to interested parties.”

“Other change in net assets: agency endowment revenue & expense: ($13,740,314); change to beginning net assets due to scf development ltd. Becoming a single-member limited liability company: ($3,273,684); change in interest rate swap liability for scf development ltd.: $7,003; total adjustment: ($17,006,995) -”