Boilermakers' & Blacksmiths' AFL-CIO Lodge No169 Employee Security Fund

“Line 2 - Family Relationship or Business RelationshipThe relationship between the Trustees of the Fund is a business relationship. The Fund is estabished and maintained pursuant to the Employee Retirement Income Security Act of 1974, as amended. The Fund, as a Taft-Hartley Fund, is administered by a Board of Trustees which is composed of an equal number of union and employer representatives. Because of this organizational requirement, there is a business relationship between the trustees.”

“Form 990, Part VI, Line 11b - Organizations Process to Review Form 990The Form 990 is presented and approved at a meeting of the Board of Trustees, subject to review and approval by the Funds legal counsel. The Trustees of the Fund are provided with a final copy of the completed Form 990 as ultimatly filed with the IRS.”

“Line 12 - Annually, each Trustee must answer the fiduciary liabilityinsurance renewal questionnaire, which contains questions regardingpotential and actual conflicts of interest.”

“Line 15 - The Fund did not have a CEO, Executive Director, top managementofficials, or other officers or key employees, as those terms are definedin the instructions.”

“Form 990, Part VI, Line 19 - Governing Documents Disclosure ExplanationThe Fund is established and maintained pursuant to the Employee Retirement Income Security Act of 1974, as ammended. It operates in compliance with the Reporting and Disclosure requirements of Subtitle B, part 1 ERISA with respect to disclosure of its governing documents and financial information. It operates in compliance with the Fiduciary Responsibility requirements of Subtitle B, part 4 of ERISA.”

“Form 990, Part VII - Additional InformationLine 1a - The Trustees of the Fund serve without compensation from the Fundfor their services. However, Robert Hutsell was compensated as an employeeof a contributing employer to the Fund, which is considered a relatedorganization to the Fund for purposes of the Form 990.”