Civic Intelligence

Hungary Initiatives Foundation Inc.

990 • Fiscal year 2021 • EIN 46-1789616

Jan 01, 2021 to Dec 31, 2021 • Filed on May 05, 2022

1455 Pennsylvania Avenue NWWashington, DC 20004

(202) 627-6810

Siviq Scores

Precomputed percentiles for this filing year versus similar nonprofits in the same peer cohort.

Liabilities / Assets

13th percentile

0.01x

Higher debt load relative to assets than 13% of similar nonprofits.

2021 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2021

Liabilities / Revenue

54th percentile

0.25x

Higher debt load relative to revenue than 54% of similar nonprofits.

2021 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2021

Net Margin

2nd percentile

-162%

Higher net margin than 2% of similar nonprofits.

2021 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2021

Top Officer Pay

19th percentile

$79,500

Higher top officer pay than 19% of similar nonprofits.

Top officer pay equals 16.8% of source-year revenue.

2021 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2021

Asset Growth

44th percentile

7.6%

Faster asset growth than 44% of similar nonprofits.

2021 filings • 501(c)3 • $10M-$25M nonprofits • Annualized from 2020 to 2021

Revenue Growth

12th percentile

-20%

Faster revenue growth than 12% of similar nonprofits.

2021 filings • 501(c)3 • $10M-$25M nonprofits • Annualized from 2020 to 2021

Assets

Up

$22,519,032

Up $1,589,229 (+7.6%) from 2020

Net Assets

Up

$22,399,235

Up $1,729,645 (+8.4%) from 2020

Liabilities

Down

$119,797

Down $140,416 (-54%) from 2020

Revenue

Down

$473,824

Down $115,332 (-20%) from 2020

Expenses

Up

$1,242,196

Up $376,220 (+43%) from 2020

Net Income

Down

-$768,372

Down $491,552 (-178%) from 2020

Historical Trend

Balance Sheet Trend

The highlighted filing sits inside the broader history for assets, liabilities, and net assets.

$30M$20M$10M$0Assets 2013: $18,928,814Liabilities 2013: $563,055Net Assets 2013: $18,365,7592013Assets 2014: $16,973,014Liabilities 2014: $192,422Net Assets 2014: $16,780,5922014Assets 2015: $15,309,525Liabilities 2015: $8,011Net Assets 2015: $15,301,5142015Assets 2016: $15,767,793Liabilities 2016: $329,949Net Assets 2016: $15,437,8442016Assets 2017: $17,194,195Liabilities 2017: $34,001Net Assets 2017: $17,160,1942017Assets 2018: $15,343,792Liabilities 2018: $16,063Net Assets 2018: $15,327,7292018Assets 2019: $18,776,028Liabilities 2019: $5,179Net Assets 2019: $18,770,8492019Assets 2020: $20,929,803Liabilities 2020: $260,213Net Assets 2020: $20,669,5902020Assets 2021: $22,519,032Liabilities 2021: $119,797Net Assets 2021: $22,399,2352021Assets 2022: $17,609,861Liabilities 2022: $118,327Net Assets 2022: $17,491,5342022Assets 2023: $19,985,628Liabilities 2023: $101,774Net Assets 2023: $19,883,8542023Assets 2024: $22,129,746Liabilities 2024: $132,673Net Assets 2024: $21,997,0732024

Highlighted filing

2021

Assets$22,519,032
Liabilities$119,797
Net Assets$22,399,235

Operations Trend

Revenue, expenses, and net income across loaded years, with this filing highlighted.

$20M$10M$0-$10MRevenue 2013: $19,937,182Expenses 2013: $1,571,423Net Income 2013: $18,365,7592013Revenue 2014: $377,812Expenses 2014: $2,679,726Net Income 2014: -$2,301,9142014Revenue 2015: $358,207Expenses 2015: $1,426,429Net Income 2015: -$1,068,2222015Revenue 2016: $478,758Expenses 2016: $805,344Net Income 2016: -$326,5862016Revenue 2017: $894,405Expenses 2017: $831,530Net Income 2017: $62,8752017Revenue 2018: $619,894Expenses 2018: $821,357Net Income 2018: -$201,4632018Revenue 2019: $1,710,469Expenses 2019: $824,239Net Income 2019: $886,2302019Revenue 2020: $589,156Expenses 2020: $865,976Net Income 2020: -$276,8202020Revenue 2021: $473,824Expenses 2021: $1,242,196Net Income 2021: -$768,3722021Revenue 2022: $462,418Expenses 2022: $1,177,639Net Income 2022: -$715,2212022Revenue 2023: $605,838Expenses 2023: $991,740Net Income 2023: -$385,9022023Revenue 2024: $464,187Expenses 2024: $1,008,845Net Income 2024: -$544,6582024

Highlighted filing

2021

Revenue$473,824
Expenses$1,242,196
Net Income-$768,372
Jump To
Filing Snapshot
Filing Period
Jan 1, 2021 to Dec 31, 2021
Signed
May 5, 2022
Return Version
2021v4.0
Gross Receipts
$473,824
Mission and Program Overview

Mission

To strengthen the understanding and cooperation between hungary and the united states.

Our mission is to build lasting value by reviving and strengthening the bonds between the united states and hungary. We promote cooperation and understanding between our great nations, thereby fostering democracy, freedom, human rights, and human dignity, the dearest values of our history and our peoples.

Balance Sheet Detail
LineBeginningEndChange
Assets
Investments in Publicly Traded Securities$20,849,948$22,447,406▲ $1,597,458
Cash and Non-Interest-Bearing Accounts$56,218$50,178▼ $6,040
Land, Buildings, and Equipment, Net$16,224$9,944▼ $6,280
Prepaid Expenses and Deferred Charges$1,176$7,904▲ $6,728
Accounts Receivable$2,620--
Savings and Temporary Cash Investments$17--
Total Assets$20,929,803$22,519,032▲ $1,589,229
Other Assets Total$3,600$3,600→ $0
Liabilities
Accounts Payable and Accrued Expenses$238,093$119,797▼ $118,296
Unsecured Notes Loans Payable$22,120--
Total Liabilities$260,213$119,797▼ $140,416
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$20,669,590$22,399,235▲ $1,729,645
Total Net Assets Fund Balance$20,669,590$22,399,235▲ $1,729,645
Total Liabilities and Net Assets / Fund Balance$20,929,803$22,519,032▲ $1,589,229

Asset Categories

AssetBook ValueDepreciationBasis
Equipment$9,944$53,942$63,886
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseTotal
Anna Smith LaceyExecutive DiFT$79,500$79,500

Board Members and Trustees

Revenue and Support

Revenue Composition

Contributions and Grants
$22,120
Program Service Revenue
$0
Investment Income
$451,704
Other Revenue
$0
Change in Net Assets
$-768,372

Audited Revenue Reconciliation

Revenue per Audited Statements
$437,457
Revenue Not Reported on Financial Statements
$36,367
Revenue Not Reported on Form 990
$2,498,017
Total Revenue per Audited Statements
$2,935,474
Total Revenue per Form 990
$473,824
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Grants and Similar Amounts Paid$667,366
Other Expenses$406,199
Salaries, Compensation, and Employee Benefits$168,631
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Grants to Domestic Orgs$437,704--$437,704
Grants to Domestic Individuals$193,060--$193,060
Current Officers, Directors, Trustees, and Key Employees$39,750$39,750-$79,500
Other Salaries and Wages$66,850$11,190-$78,040
Fees for Services Accounting$9,510$27,318-$36,828
Foreign Grants$36,602--$36,602
Fees for Service Investment Mgmnt Fees-$36,367-$36,367
Conferences and Meetings$24,040$70-$24,110
Office Expenses$14,143$8,136-$22,279
Occupancy$5,575$16,592-$22,167
Advertising$6,411$5,792-$12,203
Travel$7,268$3,828-$11,096
Payroll Taxes$5,599$4,886-$10,485
All Other Expenses$6,572$3,573-$10,145
Insurance-$8,912-$8,912
Depreciation Depletion-$6,280-$6,280
Other Expenses$5,827--$5,827
Fees for Services Legal-$5,061-$5,061
Fees for Services Other-$1,800-$1,800
Other Employee Benefits-$606-$606
Information Technology-$593-$593
Total Functional Expenses$1,061,442$180,754$0$1,242,196

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Form 990$1,242,196
Expenses per Audited Statements$1,205,829
Total Expenses per Audited Statements$1,205,829
Expenses Not Reported on Financial Statements$36,367
International Activity

Grant and Assistance Recipients

RecipientLocationCategoryPurposeAmount
Hudson InstituteWashington, DC501c3Education & Research$154,200
CisWashington, DC501c3Education & Research$118,000
The Fund for American StudiesWashington, DC501c3Leadership Training$59,000
White House Writers GroupWashington, DC501c3Leadership Training$50,000
Mobile EngineBoston, MA501c3Arts & Culture$27,240
Hungarian American CoalitionWashington, DC501c3Arts & Culture$25,000

International Summary

Spending
$36,602

International Compliance

Foreign grant records maintained
Yes
Activity in boycott countries
No
Foreign corporation ownership
No
Foreign partnership interest
No
Interest in foreign trust
No
Passive foreign investment company interest
No
Transfers to foreign corporations
No

International Activities

RegionActivityServicesOfficesEmployeesSpending
Europe (including Iceland & Greenland)Education & Research---$36,602
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Professional Fundraising Fees$0
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
Yes
Business relationship with 35% controlled entity
No
Business relationship with family members
No
Business relationship with organization members
No
Material changes to governing documents
No
Compensation from other sources disclosed
No
CEO compensation reviewed
Yes
Other officer compensation reviewed
Yes
Conflict-of-interest policy
Yes
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Page 6, Part VI, Line 11B

The organization provides a copy of the form 990 to all members of the board for review prior to submission.

Form 990, Page 6, Part VI, Line 12C

A trustee or officer shall disclose a conflict of interest: (a) prior to voting on or otherwise discharging his duties with respect to any matter involving the conflict which comes before the board or any committee; (b) prior to entering into any contract or transaction involving the conflict; (c) as soon as possible after the trustee or officer learns of the conflict; and (d) on the annual disclosure form. The secretary of the corporation shall distribute annually to all trustees, officers, and key employees (as identified by the corporation), a form soliciting the disclosure of all conflicts of interest, including specific information concerning the terms of any contract or transaction with the corporation and whether the process for approval set forth in this policy was used. Such disclosure form may require disclosure of other relationships that may not constitute an actual conflict of interest, but which are required to be disclosed in order for the corporation to comply with its annual reporting requirements. The executive committee shall review the disclosure statements and advise the board of any relevant information that may assist the board's action with respect to potential conflicts of interest.

Form 990, Page 6, Part VI, Line 15A

The board of trustees must approve in advance the amount of all compensation for officers of the corporation. Before approving the compensation of an officer, the board shall determine that the total compensation to be provided by the corporation to the officer is reasonable in amount in light of the position, responsibility, and qualification of the officer for the position held, including the result of an evaluation of the officer's prior performance for the corporation, if applicable. In making the determination, the board shall consider total compensation to include the salary and the value of all benefits provided by the corporation to the individual in payment for services. At the time of the discussion and decision concerning and officer's compensation, the officer should not be present in the meeting. The board shall obtain and consider appropriate dara concerning comparable compensation paid to similar officers in like circumstances.

Form 990, Page 6, Part VI, Line 15B

The board of trustees must approve in advance the amount of all compensation for officers of the corporation. Before approving the compensation of an officer, the board shall determine that the total compensation to be provided by the corporation to the officer is reasonable in amount in light of the position, responsibility, and qualification of the officer for the position held, including the result of an evaluation of the officer's prior performance for the corporation, if applicable. In making the determination, the board shall consider total compensation to include the salary and the value of all benefits provided by the corporation to the individual in payment for services. At the time of the discussion and decision concerning and officer's compensation, the officer should not be present in the meeting. The board shall obtain and consider appropriate dara concerning comparable compensation paid to similar officers in like circumstances.

Form 990, Page 6, Part VI, Line 19

The organization makes its governing documents available to the public upon request.

Filing and Contact Details

Filer

Filer Name
Hungary Foundation
EIN
46-1789616
Phone
2026276810
Address
1455 PENNSYLVANIA AVENUE NW, WASHINGTON, DC 20004

Signing Officer

Name
Ambassador April H Foley
Title
Chair
Phone
2026276810
Signed
2022-05-05
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Ambassador April H Foley
Formed
2012
Legal Domicile
Dc
Voting Board Members
6
Independent Board Members
6
Employees
2

Preparer

Firm
Deleon & Stang Cpas and Advisors
Address
100 LAKEFOREST BLVD STE 650, GAITHERSBURG, MD 20877-2609
Preparer
Clint Lehman CPA
Phone
3019489825
Supplemental Narrative

Additional Explanations

Form 990, Page 2, Part III, Line 4D

ALUMNI PROGRAMS

Financial Statement Notes

Schedule D, Page 3, Part X

The foundation recognizes the effect of income tax positions only if those positions are more likely than not to be sustained. Management has determined that the foundation had no uncertain tax positions that would require financial statement recognition or disclosure.

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IRS990/OtherExpensesGrp/Desc2MENTORSHIP
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IRS990/PrincipalOfficerNm0AMBASSADOR APRIL H FOLEY
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IRS990/ProgSrvcAccomActy2Grp/Desc0EDUCATION AND RESEARCH: TO PROMOTE HUNGARIAN-U.S. RELATIONS BY GENERATIONG INTERNSHIPS, SCHOLARSHIPS, AND ACADEMIC EXCHANGE PROGRAMS.
IRS990/ProgSrvcAccomActy2Grp/ExpenseAmt0453254
IRS990/ProgSrvcAccomActy2Grp/GrantAmt0453254
IRS990/ProgSrvcAccomActy3Grp/Desc0CULTURE AND ART: TO PRESERVE AND PROMOTE AND APPRECIATION OF HUNGARIAN CULTURE, ART, AND SCIENCE IN THE U.S. BY RAISING THE PUBLIC AWARENESS OF HUNGARIAN HISTORY, ARTS, CULTURE, AND ACADEMIC ACHIEVEMENTS ACROSS THE U.S.
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IRS990/ProgSrvcAccomActyOtherGrp/Desc0ALUMNI PROGRAMS
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IRS990ScheduleA/Form990ScheduleAPartVIGrp/FormAndLineReferenceDesc0PART II, LINE 10
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IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0THE FOUNDATION RECOGNIZES THE EFFECT OF INCOME TAX POSITIONS ONLY IF THOSE POSITIONS ARE MORE LIKELY THAN NOT TO BE SUSTAINED. MANAGEMENT HAS DETERMINED THAT THE FOUNDATION HAD NO UNCERTAIN TAX POSITIONS THAT WOULD REQUIRE FINANCIAL STATEMENT RECOGNITION OR DISCLOSURE.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0SCHEDULE D, PAGE 3, PART X
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IRS990ScheduleF/AccountActivitiesOutsideUSGrp/RegionTxt0EUROPE (INCLUDING ICELAND & GREENLAND)
IRS990ScheduleF/AccountActivitiesOutsideUSGrp/TypeOfActivitiesConductedTxt0EDUCATION & RESEARCH
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IRS990ScheduleF/GrantsToOrgOutsideUSGrp/MannerOfCashDisbursementTxt0WIRE
IRS990ScheduleF/GrantsToOrgOutsideUSGrp/PurposeOfGrantTxt0EDUCATION & RESEARCH
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IRS990ScheduleF/SupplementalInformationDetail/ExplanationTxt0FOR GRANTS LESS THAN ONE YEAR, IN ORDER TO BE FUNDED, RECIPIENTS ARE ASKED TO SEND A FINAL NARRATIVE AND FINANCIAL REPORT WITHIN A MONTH OF THE END OF THE GRANT CYCLE. IF MULTI-YEAR, RECIPIENTS ARE REQUIRED TO FILE BOTH OF THESE REPORTS ANNUALLY. ANY CHANGES TO THE PROGRAM BUDGET OVER 20% MUST BE PREAPPROVED BY THE FOUNDATION BEFORE EXPENDITURES ARE MADE.
IRS990ScheduleF/SupplementalInformationDetail/ExplanationTxt1EUROPE (INCLUDING ICELAND & GREENLAND) 36,602 0
IRS990ScheduleF/SupplementalInformationDetail/FormAndLineReferenceDesc0SCHEDULE F, PAGE 1, PART I, LINE 2
IRS990ScheduleF/SupplementalInformationDetail/FormAndLineReferenceDesc1SCHEDULE F, PAGE 1, PART I, LINE 3
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IRS990ScheduleI/GrantsOtherAsstToIndivInUSGrp/GrantTypeTxt0GENERAL ASSISTANCE
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IRS990ScheduleI/RecipientTable/PurposeOfGrantTxt0ARTS & CULTURE
IRS990ScheduleI/RecipientTable/PurposeOfGrantTxt1LEADERSHIP TRAINING
IRS990ScheduleI/RecipientTable/PurposeOfGrantTxt2ARTS & CULTURE
IRS990ScheduleI/RecipientTable/PurposeOfGrantTxt3EDUCATION & RESEARCH
IRS990ScheduleI/RecipientTable/PurposeOfGrantTxt4EDUCATION & RESEARCH
IRS990ScheduleI/RecipientTable/PurposeOfGrantTxt5LEADERSHIP TRAINING
IRS990ScheduleI/RecipientTable/RecipientBusinessName/BusinessNameLine1Txt0HUNGARIAN AMERICAN COALITION
IRS990ScheduleI/RecipientTable/RecipientBusinessName/BusinessNameLine1Txt1THE FUND FOR AMERICAN STUDIES
IRS990ScheduleI/RecipientTable/RecipientBusinessName/BusinessNameLine1Txt2MOBILE ENGINE
IRS990ScheduleI/RecipientTable/RecipientBusinessName/BusinessNameLine1Txt3HUDSON INSTITUTE
IRS990ScheduleI/RecipientTable/RecipientBusinessName/BusinessNameLine1Txt4CIS
IRS990ScheduleI/RecipientTable/RecipientBusinessName/BusinessNameLine1Txt5WHITE HOUSE WRITERS GROUP
IRS990ScheduleI/RecipientTable/RecipientEIN0521768656
IRS990ScheduleI/RecipientTable/RecipientEIN1136223604
IRS990ScheduleI/RecipientTable/RecipientEIN2472483081
IRS990ScheduleI/RecipientTable/RecipientEIN3131945157
IRS990ScheduleI/RecipientTable/RecipientEIN4521449368
IRS990ScheduleI/RecipientTable/RecipientEIN5521803603
IRS990ScheduleI/RecipientTable/USAddress/AddressLine1Txt0PO BOX 57135
IRS990ScheduleI/RecipientTable/USAddress/AddressLine1Txt11706 NEW HAMPSHIRE AVENUE NW
IRS990ScheduleI/RecipientTable/USAddress/AddressLine1Txt2745 ATLANTIC AVENUE
IRS990ScheduleI/RecipientTable/USAddress/AddressLine1Txt31201 PENNSYLVANIA AVE NW 400
IRS990ScheduleI/RecipientTable/USAddress/AddressLine1Txt41629 K STREET NW SUITE 600
IRS990ScheduleI/RecipientTable/USAddress/AddressLine1Txt51025 THOMAS JEFFERSON ST NW
IRS990ScheduleI/RecipientTable/USAddress/AddressLine2Txt0SUITE 110G
IRS990ScheduleI/RecipientTable/USAddress/CityNm0WASHINGTON
IRS990ScheduleI/RecipientTable/USAddress/CityNm1WASHINGTON
IRS990ScheduleI/RecipientTable/USAddress/CityNm2BOSTON
IRS990ScheduleI/RecipientTable/USAddress/CityNm3WASHINGTON
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IRS990ScheduleI/SupplementalInformationDetail/ExplanationTxt0FOR GRANTS LESS THAN ONE YEAR, IN ORDER TO BE FUNDED, RECIPIENTS ARE ASKED TO SEND A FINAL NARRATIVE AND FINANCIAL REPORT WITHIN A MONTH OF THE END OF THE GRANT CYCLE. IF MULTI-YEAR, RECIPIENTS ARE REQUIRED TO FILE BOTH OF THESE REPORTS ANNUALLY. ANY CHANGES TO THE PROGRAM BUDGET OVER 20% MUST BE PREAPPROVED BY THE FOUNDATION BEFORE EXPENDITURES ARE MADE.
IRS990ScheduleI/SupplementalInformationDetail/FormAndLineReferenceDesc0SCHEDULE I, PAGE 1, PART I, LINE 2
IRS990ScheduleI/Total501c3OrgCnt06
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IRS990/ScheduleORequiredInd0true
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0ALUMNI PROGRAMS
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1THE ORGANIZATION PROVIDES A COPY OF THE FORM 990 TO ALL MEMBERS OF THE BOARD FOR REVIEW PRIOR TO SUBMISSION.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2A TRUSTEE OR OFFICER SHALL DISCLOSE A CONFLICT OF INTEREST: (A) PRIOR TO VOTING ON OR OTHERWISE DISCHARGING HIS DUTIES WITH RESPECT TO ANY MATTER INVOLVING THE CONFLICT WHICH COMES BEFORE THE BOARD OR ANY COMMITTEE; (B) PRIOR TO ENTERING INTO ANY CONTRACT OR TRANSACTION INVOLVING THE CONFLICT; (C) AS SOON AS POSSIBLE AFTER THE TRUSTEE OR OFFICER LEARNS OF THE CONFLICT; AND (D) ON THE ANNUAL DISCLOSURE FORM. THE SECRETARY OF THE CORPORATION SHALL DISTRIBUTE ANNUALLY TO ALL TRUSTEES, OFFICERS, AND KEY EMPLOYEES (AS IDENTIFIED BY THE CORPORATION), A FORM SOLICITING THE DISCLOSURE OF ALL CONFLICTS OF INTEREST, INCLUDING SPECIFIC INFORMATION CONCERNING THE TERMS OF ANY CONTRACT OR TRANSACTION WITH THE CORPORATION AND WHETHER THE PROCESS FOR APPROVAL SET FORTH IN THIS POLICY WAS USED. SUCH DISCLOSURE FORM MAY REQUIRE DISCLOSURE OF OTHER RELATIONSHIPS THAT MAY NOT CONSTITUTE AN ACTUAL CONFLICT OF INTEREST, BUT WHICH ARE REQUIRED TO BE DISCLOSED IN ORDER FOR THE CORPORATION TO COMPLY WITH ITS ANNUAL REPORTING REQUIREMENTS. THE EXECUTIVE COMMITTEE SHALL REVIEW THE DISCLOSURE STATEMENTS AND ADVISE THE BOARD OF ANY RELEVANT INFORMATION THAT MAY ASSIST THE BOARD'S ACTION WITH RESPECT TO POTENTIAL CONFLICTS OF INTEREST.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3THE BOARD OF TRUSTEES MUST APPROVE IN ADVANCE THE AMOUNT OF ALL COMPENSATION FOR OFFICERS OF THE CORPORATION. BEFORE APPROVING THE COMPENSATION OF AN OFFICER, THE BOARD SHALL DETERMINE THAT THE TOTAL COMPENSATION TO BE PROVIDED BY THE CORPORATION TO THE OFFICER IS REASONABLE IN AMOUNT IN LIGHT OF THE POSITION, RESPONSIBILITY, AND QUALIFICATION OF THE OFFICER FOR THE POSITION HELD, INCLUDING THE RESULT OF AN EVALUATION OF THE OFFICER'S PRIOR PERFORMANCE FOR THE CORPORATION, IF APPLICABLE. IN MAKING THE DETERMINATION, THE BOARD SHALL CONSIDER TOTAL COMPENSATION TO INCLUDE THE SALARY AND THE VALUE OF ALL BENEFITS PROVIDED BY THE CORPORATION TO THE INDIVIDUAL IN PAYMENT FOR SERVICES. AT THE TIME OF THE DISCUSSION AND DECISION CONCERNING AND OFFICER'S COMPENSATION, THE OFFICER SHOULD NOT BE PRESENT IN THE MEETING. THE BOARD SHALL OBTAIN AND CONSIDER APPROPRIATE DARA CONCERNING COMPARABLE COMPENSATION PAID TO SIMILAR OFFICERS IN LIKE CIRCUMSTANCES.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4THE BOARD OF TRUSTEES MUST APPROVE IN ADVANCE THE AMOUNT OF ALL COMPENSATION FOR OFFICERS OF THE CORPORATION. BEFORE APPROVING THE COMPENSATION OF AN OFFICER, THE BOARD SHALL DETERMINE THAT THE TOTAL COMPENSATION TO BE PROVIDED BY THE CORPORATION TO THE OFFICER IS REASONABLE IN AMOUNT IN LIGHT OF THE POSITION, RESPONSIBILITY, AND QUALIFICATION OF THE OFFICER FOR THE POSITION HELD, INCLUDING THE RESULT OF AN EVALUATION OF THE OFFICER'S PRIOR PERFORMANCE FOR THE CORPORATION, IF APPLICABLE. IN MAKING THE DETERMINATION, THE BOARD SHALL CONSIDER TOTAL COMPENSATION TO INCLUDE THE SALARY AND THE VALUE OF ALL BENEFITS PROVIDED BY THE CORPORATION TO THE INDIVIDUAL IN PAYMENT FOR SERVICES. AT THE TIME OF THE DISCUSSION AND DECISION CONCERNING AND OFFICER'S COMPENSATION, THE OFFICER SHOULD NOT BE PRESENT IN THE MEETING. THE BOARD SHALL OBTAIN AND CONSIDER APPROPRIATE DARA CONCERNING COMPARABLE COMPENSATION PAID TO SIMILAR OFFICERS IN LIKE CIRCUMSTANCES.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5THE ORGANIZATION MAKES ITS GOVERNING DOCUMENTS AVAILABLE TO THE PUBLIC UPON REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PAGE 2, PART III, LINE 4D
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PAGE 6, PART VI, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PAGE 6, PART VI, LINE 12C
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PAGE 6, PART VI, LINE 15A
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4FORM 990, PAGE 6, PART VI, LINE 15B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc5FORM 990, PAGE 6, PART VI, LINE 19
IRS990/SchoolOperatingInd0false

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