King Park Development Corporation

“The organization amended and restated its bylaws, which became effective february of 2017. There have been changes to article ii of the bylaws, as the organization's mission and scope of activities have been elaborated. According to article iii, the organization no longer has classes of members. Changes to article iv include the number of directors now ranging from 7 to 15, and the term limitation has been increased as officers and directors can now serve up to 3 consectivie terms. Article ix, which includes the statement of dissolution, has been added to specify the distribution of assets upon dissolution. In february of 2017, the organization amended and restated its articles of incorporation to update its exempt purposes and to specify that the corporation will no longer have classes of members.”

“Organization's process to review form 990 - a draft of the form 990 is provided electronically or by mail to all board members. It is then discussed and approved at the monthly board meeting.”

“Annually, the board members and related parties are required to discloseany possible conflicts of interest. The board members sign a conflict ofinterest document that states if there is a conflict that they will notparticipate in the actions involving decisions in which such conflicts occur.”

“The board president performs the overall review for the executive director and the salary increase/decrease is recommended by the board president to the overall board of directors based on comparing educational level, skill sets and pay scale to other executive directors in indianapolis. All recommendations are discussed by the full board and increases are approved by the full board. The executive committee requests wage comparison data on related positions and performance outcomes by employee. Proposed wage increases are determined from the information provided.”

“The governing documents are on file with the indiana secretary of state and are available to any individual who wishes to access them at that location. The financial statements are posted annually on guidestar. In addition, documents are available for inspection at the king park development corporation business office upon request.”

“Volunteers serve in the capacity of board member service, committee service, and assistance with events.”

“Consulting fees: program service expenses 18,801. Management and general expenses 4,700. Fundraising expenses 0. Total expenses 23,501. Development and training: program service expenses 1,719. Management and general expenses 430. Fundraising expenses 0. Total expenses 2,149. Other professional fees: program service expenses 105,432. Management and general expenses 26,358. Fundraising expenses 0. Total expenses 131,790.”

“The organization has a committee that assumes responsibility for oversight of the audit and selection of an independent accountant. The organization did not change its oversight process or selection process during the year.”