Relevant Radio Inc.

“The organziation's bylaws were amended during the year to include a list of major decisions the executive committee may not make without the approval of the board of directors. The major decisions shall mean any decision to act or not to act that relates to the following: (i) sale of all or substantially all of the assets of the corporation or any subsidiary thereof or merger of the corporation or any subsidiary where there is a change-in-control; (ii) borrowing in excess of $200,000 in the aggregate not specifically reflected on an annual capital and operating budget approved by the board; (iii) making investments in excess of $200,000 in the aggregate (except for normal working capital management in the ordinary course of business and for capital transactions set forth in the budget); (iv) purchase (including lease, management agreement, time brokerage agreement and related structures) of any radio station; (v) sale (including lease, management agreement, time brokerage agreement and related structures) of any radio station; (vi) significant change in the format of any radio station; (vii) conversion to a for-profit corporation; (viii) change in any officer; (ix) removal or appointment of any member of the executive committee; (x) removal or appointment of any member of the board of directors; (xi) amend the charter of any committee of the board of directors or take any action delegated by charter to any other committee of the board of directors; (xii) an amendment to or waiver of the articles of incorporation or by laws; (xiii) selection or termination of the corporation's independent public auditors and legal counsel; (xiv) any change in the size of the board or executive committee or change in the voting rights for the selection of the board or executive committee; (xv) any change in the primary line of business of the corporation or any subsidiary; (xvi) any change in brand or mission of the corporation; (xvii) approval of the annual capital and operating budget or any material changes thereto; (xviii) change in the accounting reporting period of the corporation; (xix) approval of any capital expenditure, contracts and capital improvement in excess of $200,000; (xx) related party transactions other than (i) for payment of customary salary for services rendered or (ii) for other standard employee benefits made generally available to all employees; (xxi) voluntary dissolution, bankruptcy, assignment for the benefit of creditors or composition or liquidation of the corporation; (xxii) making any loan or advance in excess of $20,000 to any employee of the corporation other than a travel or entertainment advance made in the ordinary course of business; (xxiii) guaranteeing obligations of affiliates or other third parties; (xxiv) employment offers and agreements for an executive director, the president and chairman of the board; (xxv) changing or relocating the registered office or principal place of business of the corporation or any subsidiary.”

“The 990 is reviewed by the director of finance and accounting and the chief financial officer for accuracy with internal records, responses to questions and comparison to audited financial statements. The 990 then goes to the financial committee which consists of the chairperson, executive director, treasurer, secretary, and two(2) members of the board of directors appointed by the chairperson of the corporation for approval before submission.”

“Annually, board members must review and sign a due diligence acknowledgement form. Employees do the same with the employee handbook which addresses conflict of interest. In addition, directors must promptly make disclosure of the conflict of interest to qualified directors of the board. If a conflict exists, the resolution may include approving or disapproving the transaction at issue or requiring the director to remove himself or herself from positions in which the conflict of interest exists until there is no longer a conflict or requiring the director to discontinue or modify his or her participation in the board, committees, or task forces where the conflict exists.”

“Human resources performs a compilation of market comparable information for radio and non-profit industries. Salaries are at the discretion of management upon human resource's advice. Sr. Management positions are on the approval of the board. All changes are presented to the board. The process includes the use of independent persons, comparability data and contemporaneous substantiation of the decisions that are made.”

“Financial statements are on the organization's website and are available upon request. Governing documents and conflict of interest policy are available upon request.”

“Effective july 1, 2017, the organization acquired all assets and assumed all liabilities of ihr educational broadcasting, inc. No consideration was transferred in the transaction.”

“The organization has not changed its oversight process or selection process during the tax year.”