Fellowship Square Foundation Incorporated

“Fellowship square engaged in a management agreement with s.l. Nusbaum as of april 1, 2017 to provide management oversight for the organization. Note that s.l. Nusbaum provides also accounting and human resources oversight for lake anne i and ii, the houses which are reported on this return along with fellowship square foundation. The organization previously had a management contract with national lutheran communities & services. Louneta beckles, the organization's administrator, became an employee of s.l. Nusbaum as of april 1, 2017. His salary as an employee for s.l. Nusbaum, while remaining at lake anne i and ii as admnistrator, was $78,169.”

“The following pertains to the bylaws for the housing units lake anne 1 and lake anne ii that have their own bylaws but that are disregarded for filing purposes: the corporations' bylaws were amended in june 2018. The bylaws were amended mainly for the purpose of clarifying the relationship between the corporations and their parent, fellowship square foundation. Other changes to the bylaws include: minimum number of board members reduced from 5 to 3, clarification and updates on vacancies and time frames, board presidents to serve as board members for the parent corporation, and added language to address the dissolution of the corporations.”

“Fellowship square executive staff perform an initial review. Once approved, the finance committee reviews the draft and subsequently the whole board reviews and approves the 990 prior to the return being filed.”

“The organization's conflict of interest policy requires each director and/or officer to annually disclose his/her knowledge and understanding of the policy which includes the duty of the director and/or officer to disclose to the board of directors any actual or potential conflicts of interest. The board of directors (excluding any member who is party to the conflict) is responsible for reviewing the potential conflict and making the determination if an actual conflict of interest exists. Upon knowledge that a conflict was not properly disclosed to the board of directors, appropriate corrective and disciplinary actions shall be taken. Individuals party to any conflicts of interest shall be precluded from voting on any matteres associated with the arrangement or transaction involving such conflict.”

“When examining compensation for a new executive director, the board reviews compensation surveys to ensure officer compensation is within fair market value for the industry. Thereafter, the board reviews the executive director's performance and determines his compensation on an annual basis. The board also provides guidelines for compensation of other foundation employees. These discussions are documented in board minutes.”

“The organization makes its conflict of interest policy, governing documents, and financial statements available upon request.”

“Fellowship square foundation, as the common paymaster for the filing organization and affiliates, files all payroll information, such as w-2s, and allocates salaries to the respective organizations' operations as appropriate.”

“Contracts: program service expenses 248,700. Management and general expenses 34,825. Fundraising expenses 16,060. Total expenses 299,585. Consultant: program service expenses 0. Management and general expenses 38,864. Fundraising expenses 68,708. Total expenses 107,572.”

“Net asset transfer 564,987.”