Business Health Trust

“The three Trustees of the Business Health Trust are all employees of the Greater Seattle Chamber of Commerce, the trust settlor and a contributing employer of this trust.”

“The Trust has contracted with a third-party administrator (Benefit Administration Company, LLC) to provide bookkeeping and administrative services. Effective January 1, 2014, Benefit Solutions, Inc. replaced Benefit Administration Company, LLC as the Trust's third-party administrator.”

“Trustees are appointed by the Greater Seattle Chamber of Commerce, the trust settlor and a contributing employer of this trust.”

“There are no committeess with the authority to act on behalf of the Board of Trustees.”

“The Form 990 was prepared under the guidance of the Trust's consultants, advisors, and legal counsel by the independent accounting firm SCHOEDEL & SCHOEDEL, Certified Public Accountants, PLLC. Draft copies of the organization's financial statements and Form 990 were first provided to the Trust's consultants, advisors, and legal counsel who reviewed the Form 990 for accuracy and completeness. Any questions, concerns, or issues raised by them were addressed, and any necessary revisions were made to the Form 990. The revised Form 990 was then provided to the Board of Trustees for its review and approval. Any additional questions, concerns, or issues raised by the Board of Trustees were addressed, and any necessary revisions were made to the Form 990. The final version of the Form 990 was reviewed, approved, and filed by the Board of Trustees.”

“The Trust's governing documents, financial statements and Form 990 are available to the public upon written request by contacting the Trust in care of Benefit Solutions, Inc. at: P.O. Box 6, Mukilteo, WA 98275.”

“The Trust does not compensate any of the members of the Board of Trustees. The Board is comprised of three individuals, all of whom are officers of the Seattle Metropolitan Chamber of Commerce (the Chamber), the settlor of the Trust. These individuals understand that as part of their employment with the the Chamber, they are to serve on the Trust's Board of Trustees. Their regular compensation from the Chamber takes into consideration services performed by them in regard to the Trust. In their roles as Trustees, all three are fiduciaries and understand their obligations under the Trust Agreement and the Trust's policies and procedures, which include a conflict of interest policy. The Trust does not readily have access to information related to the compensation paid by other entities to the Trustees.”

“After the filing of the Form 990 for the year ended December 31, 2013, it was determined that an error in the calculation of contributions and related employer contributions receivable for the year ended and as of December 31, 2013 had occurred. This error resulted in an overstatement of employer contributions, reported on Part VII line 2a, and employer contributions receivable, reported on Part X line 4, in the amount of $1,223,822 and a resulting overstatement of net assets available for benefits, reported on Part X line 33, in the same amount. The appropriate schedules in the the Form 990 have been amended.”