Special Olympics Inc.

“Timothy p shriver, chairman, and bobby shriver, director and mark shriver, director have a family relationship. Chairman, timothy shriver and directors, and angelo moratti individually own interests that together control lovin scoopful, llc, whose purposes are (1) to merchandise ice cream and (2) to use its profits to support charities (particularly special olympics).”

“The special olympics federal form 990 is prepared by an external firm, rsm, and reviewed internally by senior management. After which, it is submitted by the chief financial officer and chief legal officer to the board of directors' audit and finance committee for review and approval. The final federal form 990 is sent to each board member by email prior to filing with the internal revenue service.”

“Special olympics' conflict of interest policy applies to all special olympics directors, officers, and employees and requires the avoidance of the appearance of a conflict as well as actual conflicts. Special olympics' chief legal officer is charged with enforcing the conflict of interest policy. Potential or actual conflicts are dealt with according to whether the conflict involves a director or ceo (in which case the matter is submitted to the board of directors) or involves another officer or employee (in which case the matter is submitted to the ceo). Violations may result in sanctions up to termination. Each spring, special olympics asks each officer, director, trustee, and key employee to complete and sign a questionnaire that includes a copy of the special olympics conflict of interest policy, an acknowledgment that the recipient has read the policy, confirmation that the recipient complied with the policy during the preceding year and up to the date of completing the questionnaire, a statement that the recipient has no conflicts to report or has reported them on the questionnaire, and an undertaking to promptly advise the ceo of special olympics upon becoming aware of any conflict. No special olympics director, officer, or employee who has a conflict of interest may vote or otherwise participate in any final deliberation or decision on behalf of special olympics regarding any contract, transaction, or other matter in which the director, officer, or employee has a conflict.”

“Special olympics' bylaws provide that the board of directors compensation committee shall, subject to approval of the board of directors, annually review, set, and document the reasonableness of the total compensation (including benefits and deferred compensation) for the chair (if compensated) and the chief executive officer and review, approve, and document the total compensation (including benefits and deferred compensation) for the senior executives who report directly to the chief executive officer. At least once every two years, the compensation committee presents to the board of directors a written evaluation of the chief executive officer's performance. No member of the board of directors who receives compensation from special olympics serves on the compensation committee. In 2018 compensation of the board chair, chief executive officer, and each position reporting to the chief executive officer was reviewed and approved by the compensation committee based on 2017 performance. Positions reporting to the chief executive officer are: chief legal officer, chief financial officer, chief health officer, chief human resources officer, chief of organizational excellence, chief marketing, development & communications officer, chief of regional and program operations, chief of sport and competition and vice president of global youth engagement. Special olympics international's compensation committee uses a market analysis of the compensation and benefits packages provided to executives of comparable organizations. This review is used as benchmarking information for determining the market value of positions.”

“Special olympics makes its articles of incorporation, bylaws, general rules, and conflict of interest policy documents available to the public on its website at www specialolympics.org and upon request for the same period of disclosure as set forth in section 6104(d).”

“Soi compensates two board members who are current/former special olympics athletes. The compensation is not for their service as board members as soi does not compensate board members for their services as such. The compensation of ms. Loretta claiborne and mr. Ben haack is for their services promoting, speaking, and engaging in events of soi as athletes. These two members receive a form 1099-misc reporting the compensation for their services.”

“The organization hasn't yet filed 2019 form 990-t for the tax year, the number currently reported on line 7b is an estimate of the amount the organization expects to report on form 990t, line 39, when it is filed.”

“Unrealized loss on foreign currency -39,763.”

“The process for overseeing the audit of the financial statements and selection of an independent accountant that audited the financial statements has been consistent with prior years.”