The William Rockhill Nelson Trust

“Per the irs instructions, certain business relationship between the organization's current officers, directors, trustees, or key employees, as reported in part vii, section a, must be disclosed. Because of the interrelated nature of the filing organization with its related entities (as disclosed in schedule r), all of the officers and trustees have overlapping responsibilities and thus have business relationships. Leo morton and paul debruce have a business relationship.”

“Trustees elected to the governing body of the nelson gallery foundation, a related nonprofit organization, are also elected to the governing body of the filing organization.”

“Initial compilation of the information for the return is completed by finance department staff with review by the vice president, finance prior to transmission to the accounting firm for return preparation. Upon receipt of the completed return and review by the vice president, finance, the return will be provided to the chief executive officer, audit committee and to all trustees for review prior to filing.”

“The conflict of interest policy requires the completion of a written questionnaire by each trustee, officer, member of a committee with board-delegated power and key employees, on an annual basis. The questionnaire addresses each individual's acknowledgement of the receipt of the code of conduct and the conflict of interest policy and their compliance with it, along with requiring responses to detailed questions related to specific areas that could raise a conflict. The board chair of the board of trustees would review any identified conflicts of interest and determine whether any further action would need to occur.”

“The governing documents and conflict of interest policy are not generally made available to the public. Audited financial statements for the prior year are available on the organization's website.”

“Change in value of trusts held by others - 2512211; acquisition and disposition of art - -263700;”

“The audit committee of the nelson gallery foundation is responsible for engaging the audit firm and review of the draft consolidated audited financial statements before issuance.”