Pathstone Foundation

“PathStone Corporation is the sole member of the organization.”

“The directors of the Foundation shall be elected at each annual meeting of the PathStone Board. The term of office of each director shall be one year from the date of election by the PathStone Board.”

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

“A complete copy of the 990 will be provided to the governing body for review prior to being filed.”

“During the new board member orientation, the policy is fully explained by the President and attorney. The board member understands that it is important to follow the policy at all times during his or her term on the board. It is made clear that if any conflict arises, that the policy is in effect and should be followed. This is also re-emphasized annually when the policy is signed on a yearly basis. In addition to the Conflict of Interest Policy, the organization's parent company, PathStone Corporation, has a questionnaire that all employees must fill out annually to determine whether they have a real or potential conflict of interest. If any potential conflicts are learned about through this or any other method, they are reviewed by the Executive Staff member for that division, and ultimately by the President/CEO. The CEO has the ultimate responsibility for determining whether or not a conflict exists and he or she, in conjunction with the Senior Vice President for Human Resources of PathStone and the Executive Staff member for that employee's division, will determine the course of action necessary.”

“PathStone Foundation does not have any direct compensation expense since all employees are officially employed by the parent company, PathStone Corporation. The wages and benefits of all top management employees are determined by the personnel committee of the parent company as part of its ongoing wage comparative studies and benefit budgeting process. The process includes independent review, comparability data, and deliberation by a compensation committee.”

“The organization makes its governing documents available upon request.”

“Consultants: Program service expenses 0. Management and general expenses 0. Fundraising expenses 132,794. Total expenses 132,794. Management Salaries: Program service expenses 0. Management and general expenses 102,492. Fundraising expenses 0. Total expenses 102,492.”