Raleigh CIVIC Ventures Inc.

“Form 990 part vi, sec b, line 14 although the organization did not have a document retention and destruction policy as of fiscal year end of june 30, 2014, they currently have a policy under consideration with expected execution during the following fiscal year. Form 990 part vi, sec b, line 13 the organization has no whistleblower policy due to the fact that they have no employees and it is therefore not considered applicable. Raleigh civic ventures (rcv) delegates management to its affiliate organization to schedule r, whom independently has a whistleblower policy in effect.”

“As indicated elsewhere in this form 990, the board of directors of raleigh civic ventures (rcv) delegated control over management duties to its affiliate organization downtown raleigh alliance (dtra), with whom they share office space and paid employees. Dtra charges a management fee to rcv per a management agreement between the two companies, terms of which are intended to ensure arms-length consideration is exchanged between the entities for services rendered. However, at its discretion, dtra may decrease the amount billed in accordance with cashflow restraints but in no event will the annual intercompany fee exceed 45,800. For the year ending 6.30.14, the fee was 33,750, as reported in part ix 11a column b of the functional expenses. This amount includes compensation for david diaz, officer of rcv and president of dtra, as well as shared resource charges as cross-referenced to the disclosures on part vii, schedule j and schedule r.”

“Due to the interrelated management of the organization with its affiliate dtra (as described previously on this form 990), independent meeting minutes were not maintained in the current fiscal year. The organization has acknowledged adoption of a new policy in which prospectively it will properly document minutes for meetings held specific to rcv board of director discussions.”

“The budget manager, president/ceo, and chairman of the board will review the form 990 on behalf of the board of directors with a follow-up provided to the board following the executive review. Any relevant inquiries are made to the organization's external cpa firm to resolve.”

“Raleigh civic ventures (rcv) pays no direct compensation as indicated on part vii. However, compensation elements included in the intercompany management fee with its affiliated organization as cross-referenced to the disclosure under part vi, line 3 are subject to the appropriate compensation policy maintained by its affiliate dtra.”

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

“Part ix line11a column b: amt includes compensation disclosed on sch. O part iii, line 3 related to the intercompany mgmt fee.”

“Artisans, the market attracted over 100,000 attendees during the 27 week season.”