Eclt Foundation

“The return is presented to the board for comment and review before filing the return.”

“In any situation where there is potential for an actual or apparent conflict of interest, a board member has a duty to immediately disclose the situation to the board. This includes, but is not limited to, all instances where a board member or a member of his or her immediate family holds a real property interest or financial interest in a property that is a legal abutter to the subject of a proposed eclt action. The board may determine on a case-by-case basis whether an actual or apparent conflict of interest precludes the board member from participation in the action. If a simple majority of the disinterested board members present at any meeting where a quorum is present determines that an actual or apparent conflict should preclude an individual from participation in an action, the conflicted board member must abstain from discussion and voting on the issue, other than to provide objective information. In making such determination, the disinterested members of the board must exercise their normal fiduciary duty of care to the eclt. Eclt disclosure to other parties: in addition to internal eclt disclosure, the eclt must be aware that public credibility is instrumental for the organization's longevity. Thus, in all cases where a conflict of interest has been formally discussed in a board meeting, the eclt has a duty to disclose the fact and outcome of such discussion to all parties to the transaction. Eclt disclosure to board of directors: the eclt board of directors has a duty to disclose other board or committee appointments to the eclt board and executive director for purposes of capitalizing on involvement in other community-based organizations and to ensure there is no conflict of interest. If the board determines that a board member has violated this policy, the board may remove the board member from the eclt board, in accordance with the provisions of the eclt bylaws section 3.5(a) or 3.5(b).”

“The executive director is not paid by this organization. She is paid by the east cooper land trust.”

“AVAILABLE UPON REQUEST”

“The eclt foundation was created to support the east cooper land trust (ein 20-0473518), a tax exempt organization. The eclt foundation holds title to a property (thornhill farms) that was purchased with a grant, and a conservation easement was placed on the property immediately after by the east cooper land trust. There may be other transactions similar to this one at some point in the future. All operations with income and expenses are run the the east cooper land trust. The organization also took fee simple posession of two pieces of property during the year which is reflected in the contributions this year.”