Raleigh CIVIC Ventures Inc.

“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. For the year ending june 30, 2017, the fee was 49,997, as reported in part ix, line 11a, column b of the functional expenses. This amount includes compensation for david diaz & orage quarles, officer of rcv and president of dtra, as well as shared resource charges as cross-referenced in the disclosures on part vii, schedule j and schedule r.”

“The finance 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 line 11a column b: amt includes compensation disclosed on sch. O part iii, line 3 related to the intercompany mgmt fee.”

“Skating rink along with two months of fun-filled festivities, creating memorable experiences for downtown raleigh visitors. The 2016 celebration featured favorites such as the gingerbread house competition, mayor's tree lighting and santa's village. Another annual event, the raleigh downtown farmers market, is a special 22-week long market held each wednesday at the city plaza to enhance the quality of life of downtown employees and the community at large. With 30-34 regular season vendors offering locally- sourced agriculture and artisan food products, the market attracted over 100,000 market shoppers and 20,000 people to our four local food festivals during the 22-week season.”