Raza Development Fund Inc.

“The organization's form 990 undergoes a number of internal and external reviews before it is filed with the irs. The return is prepared by the organization's public accounting firm, and is reviewed by the organization's chief financial officer. A final draft of the form 990 is provided to the board of directors for review and comment before it is filed with the irs. Any questions or issues are addressed and resolved with the chief financial officer.”

“The policy is designed to help directors, officers and employees of the corporation identify situations that present potential conflicts of interest and provide them with procedures which, if followed, will help assure that the corporation enters into a financial transaction and arrangements that are in its interests, valid and binding. Any interested party with a potential conflict of interest shall disclose its conflict to the audit committee of the board of directors, which then deliberates in the absence of the interested party the existence or absence of conflict. After making such determination by vote, the committee communicates its conclusion to the corresponding authority that has approvals to enter into such financial transaction, and then a vote by that authority on whether the corporation should enter or not enter such a financial transaction takes place without the input of the interested party if a conflict deemed to exist.”

“The personnel committee is charged with the performance review of the president & ceo. The review is based on the annual operating goals established for the organization, these include productions, financial, fund raising and operation goals. Based on the overall performance the committee recommends a salary modification and bonus, that is reviewed and approved by the board of directors.”

“The organization maintains an updated copy of its governing documents, conflict of interest policy and financial statements available for public review for the same period of disclosure as set forth in section 6104(d).”

“Consulting fees: program service expenses 3,321,429. Management and general expenses 172,517. Fundraising expenses 0. Total expenses 3,493,946. Professional fees: program service expenses 86,826. Management and general expenses 27,641. Fundraising expenses 8,413. Total expenses 122,880.”

“There have been no changes during the year in the process.”