Irvine Ranch Conservancy

“According to the bylaws, the board of directors is appointed by the 3-member founders board, which is in turn appointed by a third party. The founders board only has the power to appoint, reappoint and remove board members, it does not operate the organization and is not involved in any other organizational matters. Founder's board members are not employees of the third party, they are separate individuals.”

“A committee of the board of directors will review form 990 before it is filed any changes or questions recommended by the board will be implemented by the cpa's per discussion with the members who reviewed the return before filing with the internal revenue service. A copy of the form 990 will be forwarded to all members of the board of directors.”

“Each director, trustee, principal officer, and member of a committee with board delegated powers shall annually sign a statement which affirms such person: (a) has received a copy of the conflicts of interest policy; (b) has read and understands the policy; (c) has agreed to comply with the policy; and(d) understands the corporation is operated exclusively for the promotion of social welfare and in order to maintain its federal tax exemption it must engage primarily in activites which accomplish one or more of its tax exempt purposes.”

“A compensation study has been conducted for all officers and key employees of the irvine ranch conservancy and approved by the board without the input of any officer whose compensation is in review. Each officer and key employee also have a written employment contract.”

“The most recent audited financial statements, the governing documents and 990 are available at our main accounting office and can be accessed during regular business hours.”

“All governing documents are available upon request.”

“The organization has analyzed its contracts for the current fiscal year to determine if they should be classified as grant revenue or program service revenue. Contracts that were determined to provide a service for the direct benefit of the public and not primarily for the government entity itself have been classified as grants on part i line 8. Contracts that primarily benefit the government entity directly have been reported on part i line 9 as program service fees. These contracts are properly shown as grants throughout the form 990 and for purposes of the sch. A part iii public support test.”

“The audit committee selection process has not changed.”