Delancey Street North Carolina

“Mimi silbert, david silbert, and greg silbert have a family relationship.”

“The sole member of the organization, throckmorton, dba delancey street foundation, has the power to appoint the board of the organization.”

“Throckmorton, dba delancey street foundation, the member and parent of the organization, has reserved powers as the sole member to approve any amendments to the organizing documents and to vote on certain transactions.”

“A copy of the final form 990 is sent to each board member before it is filed. Any questions or comments are addressed, and if appropriate, changes are incorporated into the tax return before filing.”

“Delancey street foundation has a master of conflict of interest policy ("policy") that also applies to its affiliated organizations--delancey street california, delancey street north carolina, delancey street south carolina, and delancey street new mexico. The policy requires all interested persons to disclose the existence of all actual or possible conflicts of interest to the applicable board of directors or the committee with board-delegated powers to consider the proposed transaction or arrangment. An interested person is any delancey street director, officer, or member of a committee with board-delgated powers who has a financial interest or a related person who has a financial interest. An interested person may make a presentation to the board or the committee meeting. After the presentation, the interested person shall leave the meeting during the discussion of the conflict of interest while the remaining disinterested persons discuss and vote on the matter. The individual with the conflict of interest does not have a vote on this matter. Conflicts of interests are documented in the meeting minutes as well as the steps the remaining disinterested persons took to determine whether a conflict exists. The policy is distributed annually to each board member and it includes a questionnaire that each director, officer, and member of a committee with board-delegated powers will complete and return the conflicts questionnaire within 15 days of receipt ot the policy with a signed statement acknowleding receipt and compliance with the policy. Any new director or officer is also advised of the policy.”

“The organization does not make its governing documents, conflict of interest policy, or financial statements available to the public.”

“The organization does not pay compensation to any officer, key employee, or top management official, therefore there is no process for determining compensation.”

“Loss on disposal/retire of assets: program service expenses 57,391. Management and general expenses 0. Fundraising expenses 0. Total expenses 57,391. Repair & maintenance equipment: program service expenses 2,419. Management and general expenses 0. Fundraising expenses 0. Total expenses 2,419.”

“DONATED SERVICES -425.”

“An audit is in progress but has not been completed by the filing date of this return.”