The Catherine B Reynolds Foundation Inc.

“Catherine reynolds and wayne reynolds, family relationship.”

“In august 2024, the organization amended its articles of incorporation to change its name to "the catherine b. Reynolds foundation, inc." the organization has been using this name as a d/b/a for more than 20 years for its philanthropic activities to distinguish philanthropic activities from its nonprofit educational loan activities. As reported further in detail in part ii and iii of schedule n, the organization sold its portfolio of educational loans in february 2023, and with that sale the buyer required the right to acquire the educap inc. Name, which necessitated the name change.”

“The organization's form 990 review policy is as follows: 1. The organization provides its board of directors with the organization's form 990 each year prior to filing the form 990 with the irs. 2. The audit committee or a special committee of the board of directors reviews and approves the form 990 prior to its filing with the irs. To assist the audit committee or a special committee with its review of the form 990, the audit committee or a special committee may, among other things, speak with the accountant who prepared the form 990 and counsel who reviewed the form 990.”

“Monitoring, compliance enforcement, and procedures for addressing the conflict of interest monitoring and compliance enforcement - each director, principal officer, key employee, and member of a committee with board-delegated powers shall annually sign a statement which affirms that such person: a. Has received a copy of the conflicts of interest policy. B. Has read and understands the policy. C. Has agreed to comply with the policy. D. Understands that the organization is a tax-exempt organization and in order to maintain its federal tax exemption, it must engage in primarily activities that accomplish one or more of its tax-exempt purposes. To ensure that the organization operates in a manner consistent with tax-exempt 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 organizations conform to the organization's written policies, are properly recorded, reflect reasonable investment or payments for goods and services, further tax-exempt purposes and do not result in inurement, impermissible private benefit or in an excess benefit transaction. Procedures for addressing the conflict of interest: a. An interested person may make a presentation at the board or committee meeting, but after the presentation, he/she shall leave the meeting during the discussion of, and the vote on, the transaction or arrangement involving the possible conflict of interest. B. The chairperson of the board or committee shall, if appropriate, appoint a disinterested person or committee to investigate alternatives to the proposed transaction or arrangement. C. After exercising due diligence, the board or committee shall determine whether the organization can obtain with reasonable efforts a more advantageous transaction or arrangement from a person or entity that would not give rise to a conflict of interest. D. If a more advantageous transaction or arrangement is not reasonably possible under circumstances not producing a conflict of interest, the board or committee shall determine by a majority vote of the disinterested directors whether the transaction or arrangement is in the organization's best interest, for its own benefit, and whether it is fair and reasonable. In conformity with the above determination it shall make its decision as to whether to enter into the transaction or arrangement. Violations of the conflicts of interest policy a. If the board or committee has reasonable cause to believe that a board member has failed to disclose actual or possible conflicts of interest, it shall inform the board member of the basis for such belief and afford the board member an opportunity to explain the alleged failure to disclose. B. If, after hearing the board member's response and after making further investigation as warranted by the circumstances, the board or committee determines the board member has failed to disclose an actual or possible conflict of interest, it shall take appropriate disciplinary and corrective action.”

“The compensation for officers is approved annually by the special committee of the board of directors, comprised of independent board members. Additionally, the special committee members utilize the expertise of an independent compensation expert who meets with the special committee members and provides and reviews a compensation comparability report, in accordance with best practices outlined by the internal revenue service.”

“To the extent required by law, the form 990 and financial statements are available by request.”

“As reported in further detail in part ii and iii of schedule n, the organization sold its portfolio of educational loans in february 2023 and therefore no longer provides and/or administers educational loans. Following the sale, the organization's primary program service activity is the making of grants to other 501(c)(3) organizations, including in the areas of education, the arts, and research.”

“The organization has an audit committee, comprised of independent board members, that assumes oversight of the audit. This process has not changed from the prior fiscal year.”