Noma Parks Foundation

“The bylaws of the parks foundation were amended: (1) to create a standing governance and ethics committee comprised of at least two foundation board members who are not members of the noma bid to provide advice to the board of directors and to individual directors concerning transactions from which they will be required to recuse themselves from board deliberations based upon an actual conflict of interest or an appearance of a potential conflict of interest, (2) to specify the types of transactions subject to approval by the noma bid as sole member of the parks foundation; namely, (a) the acquisition of property or rights in property, (b) the sale, lease, exchange or other disposition of assets, (c) approval of the annual budget and (d) approval of any single expenditure of more than $500,000,and (3) to set forth the process for getting such approval.”

“The corporation's sole member shall be the noma improvement association (d/b/a noma bid). The sole member shall have the right to vote as provided in the bylaws of the corporation. Any additional rights and duties of the sole member shall be as set forth in the bylaws of the corporation.”

“The sole member has the authority to appoint directors.”

“The sole member has the authority to review and approve amendments to bylaws and articles of incorporation, the acquisition of property or rights in property, and transactions with a value in excess of $500,000.”

“A draft form 990 is prepared by an outside accounting firm and is reviewed by management. The final draft 990 is provided to the treasurer for review and then shared with the executive committee for approval. The draft 990 will then be provided to the board of directors prior to filing with the irs.”

“Persons covered by the policy will annually disclose or update to the chairman of the board of directors on a form provided by the organization their interests that could give rise to conflicts of interest, such as a list of family members, substantial business or investment holdings, and other transactions or affiliations with businesses and other organizations or those of family members.”

“The corporation has no employees. All staff is furnished by the noma bid. The process for determining compensation of noma bid employees is based on a review of comparable positions in other bids in the dc area. The president reviewed all employee compensation and memorialized decisions in employee hr files in 2013.”

“The organization makes the governing documents, including the conflict of interest policy and financial statements, available to the public upon request.”

“Land acquisition survey: program service expenses 7,208. Management and general expenses 1,492. Fundraising expenses 0. Total expenses 8,700. Architects & engineers: program service expenses 255,292. Management and general expenses 52,826. Fundraising expenses 0. Total expenses 308,118. Other contractors: program service expenses 2,092. Management and general expenses 433. Fundraising expenses 0. Total expenses 2,525.”