Reef Fair Oaks Inc

“Russell smith, cory carlson, james hummer, patrick malley and tup fisher are all employed as part of the investment team of washington capital management.”

“The organization is a title-holding company, organized and operated for the benefit of its sole stockholder/member. Washington capital joint master trust, the sole member of the title holding company, is a group trust as described in revenue ruling 81-100 and is exempt under internal revenue code section 501(a) for the funds that equitably belong to its participating trusts that qualify under internal revenue code section 401(a). The trust is also tax exempt under irc section 408(e) for funds that equitably belong to its participating individual retirement accounts that qualify under irc section 408. Washington capital joint master trust is established for the exclusive purpose of holding in trust one or more collective funds with the objective of obtaining various economies and greater diversification by pooling individual trust assets.”

“The taxpayer authorized and issued only one class of shares of stock and issued 100,000 shares to the bank of new york trust company, n.a. In its capacity as directed trustee for the washington capital joint master trust. The holder of the stock is entitled to one vote per share. The initial directors were named in the articles of incorporation. Directors are elected by the sole shareholder at each annual meeting to hold office until the next annual meeting. Any one or more members of the board (including the entire board) may be removed, with or without cause, by a vote of the sole shareholder. Therefore, washington capital joint master trust appoints and can remove the board of directors of the title holding company by vote, with or without cause.”

“All powers are exercised by and under the authority of the board. The organization's business and affairs are managed under the direction of the board and since washington capital joint master trust appoints the board and has the right to remove any or all members of the board, any decisions are subject to the approval of the sole member. Any one or more members of the board (including the entire board) may be removed, with or without cause, by a vote of the sole shareholder.”

“A draft copy of the form 990 is provided to the board secretary/treasurer for review before filing. Financial transactions related to form 990 are reviewed continuously during the year by a member of the governing body. At a minimum, the form 990 is reviewed by at least one member of the governing body.”

“Directors and officers are required annually to submit a written statement showing their compliance with the conflict of interest policy. This statement is reviewed by a compliance officer.”

“The organization does not pay compensation and therefore does not have a process for review and approval.”

“Forms 990 and the form 1024 are available upon written or in-person request.”

“The organization's governing documents are available to the public upon written or in-person request.”

“Reef fair oaks, inc. Is a 501(c)(2) tax exempt organization with a calendar year end of december 31st. Accordingly, the tax return for the year ended december 31, 2014 was originally due on may 15, 2015 and was extended until november 15, 2015. The failure to file timely was not due to willful neglect. The organization has now put into place a system that will make sure that future returns are timely filed. It is, therefore, requested that there be no assessment of penalties relating to the late filing of the form 990 for short tax year ending december 31, 2014.”

“Owner's contributions 19,223,371.”