Hilton Grand Vacations Foundation

“Section a, line 2: business relationship - the directors and officers of hilton grand vacations foundation are all currently employed by hilton resorts corporation.”

“There are no committees with the authority to act on behalf of the governing body.”

“The form 990 is provided to all members of the board of directors for review before filing.”

“To ensure the foundation operates in a manner consistent with charitable purposes and does not engage in activities that could jeopardize its tax- exempt status, periodic reviews shall be conducted. The periodic reviews shall, at a minimum, include the following subjects: (a) whether compensation arrangements and benefits are reasonable based on competent survey information, and the result of arm's length bargaining; (b) whether partnerships, joint ventures, and arrangements with management foundations conform to the foundation's written policies, are properly recorded, reflect reasonable investment or payments for goods and services, further charitable purposes and do not result in inurement, impermissible private benefit or in an excess benefit transaction. In connection with any actual or possible conflict of interest, an interested person must disclose the existence of the financial interest and be given the opportunity to disclose all material facts to the directors and members of committees considering the proposed transaction or arrangement. After disclosure of the financial interest and all material facts, and after any discussion with the interested person, he/she shall leave the board of directors' meeting while the determination of a conflict of interest is discussed and voted upon. The remaining directors shall decide if a conflict of interest exists.”

“Maryland, massachusetts, michigan, minnesota, mississippi, missouri, nevada, new hampshire, new jersey, new mexico, new york, north carolina, north dakota, ohio, oklahoma, oregon, pennsylvania, rhode island, south carolina, tennessee, utah, virginia, washington, west virginia, wisconsin”

“Governing documents, conflict of interest policy, and financial statements are made available to the public upon request.”

“The general purpose for which the corporation is formed is to operate exclusively for such charitable, religious, research, educational and scientific purposes, including for such purposes, the making of distributions to organizations described in sections 170(b)(1)(a) and 170 (c) of the internal revenue code of 1986, as amended, or the corresponding provision of any subsequent federal tax law (the "code"), as will qualify the corporation as an exempt organization under section 501(c)(3) of the code.”