Hope Haven Charitable Trust

“Kevin Hollern and Susan Hollern have a family relationship.”

“The Trust agreement was updated in 2018 as follows: -Limits placed on Trustor's power to remove trustees -Responsibilities of the President were outlined -Limits placed on the number of successive terms trustees can serve -Limit placed on the trustee's power to amend the Organization's central purpose”

“In the event that any child or grandchild of Susan and Kevin Hollern wishes to serve on the Board of Trustees, he or she shall automatically be appointed to the Board of Trustees, subject to the Trustor's consent, regardless of the number of Trustees then serving. Provided, however, that, if fewer than a majority of the members of the Board of Trustees were Hollern Family Members at the time of such appointment, then such appointment shall not occur if it would result in a majority of the members of the Board of Trustees being Hollern Family Members.”

“Form 990 is prepared by an independent CPA firm and reviewed in detail by the organization's top management. The reviewed Form 990 is then provided to the board of directors prior to electronic filing with the IRS.”

“On an annual basis, all officers and board members review and sign a written document which requires them to disclose any conflicts of interest. The statements are reviewed by the President and CEO. Should any potential conflicts of interest be disclosed, the board member or officer would be asked to refrain from participation in any deliberation or decision with regard to matters affected by the relationship.”

“Line 15a - Compensation for officers is determined and voted on by the entire board of trustees. A description of the compensation determination process as well as the outcome of the deliberations is documented in the board minutes. Executive compensation is compared to industry benchmarks each year and is reviewed annually by the board. Line 15b - The organization does not compensate any other key employees. Therefore, this line was answered no in accordance with the instructions.”

“The governing documents, conflict of interest policy and financial statements are available upon request.”

“In accordance with the principles of FASB ASU 2016-14 (ASC 958), the organization has implemented required changes to its audited financial statements for the period ended 12/31/2018. To date, Form 990 and its associated schedules have not been updated to reflect changes made by this standard. Thus, we have reported the revised net asset categories from the audited financial statements as follows on Form 990, Part X, Lines 27-29: Line 27 - Net assets without donor restrictions $2,091,447 Line 28 - Net assets with temporary restrictions 829,701 --------- Total net assets $2,921,148”

“The organization's Audit Committee assumes responsibility for oversight of the audit of its financial statements and selection of its independent accountant. This process has not changed since the prior year.”

“This adjustment represents HHCT's Investment in Rwanda, which was added to Form 990 during the current year.”