Alfred I Dupont Charitable Trust

“During 2025 subsequent to management's review, a draft of the 2024 form 990 was distributed by management to the trustees prior to the scheduled trustees meeting. Management presented an overview of form 990 to the trustees and gave the trustees an opportunity to provide comments and questions with respect to the draft. Based on the feedback provided from the trustees, management updated the draft form 990. Upon finalization of the return, management provided a final copy of the return via e-mail to the trustees.”

“The charitable trust has established a conflict of interest policy which has been reviewed and approved by the trustees. The charitable trust is committed to the belief that sound business practices start with an absolute commitment from each trustee and employee to act ethically in carrying out the charitable trust business, and to comply with the laws and regulations that impact its business, thus the charitable trust's employees and trustees must avoid participating in activities that create or appear to create a conflict of interest. The charitable trust has specifically identified the following areas in its policy to be potential conflicts of interest: financial interest, outside employment, acceptance of gifts, gratuities, business courtesies, travel, lodging and entertainment, misuse of resources or assets, personal gain using undue influence, direct dealings with vendors, use of confidential information, and an individual's support of political causes. The charitable trust's policy requires all trustees and all employees to disclose participation in activities or circumstances that may present a conflict of interest on an annual basis or if at any time such individual becomes aware of circumstances that may present a conflict of interest. These disclosures are reviewed by the audit committee as necessary.”

“The charitable trust, which sets the compensation for the officers and the highly compensated employees, utilizes compensation surveys from its independent compensation consultant. These surveys reflect compensation levels among foundations and endowments of organizations that are comparable to the charitable trust in asset value. These independent surveys were used to help establish compensation levels for the staff positions with a high level of responsibility. Persons holding these positions are not members of the charitable trust's governing body. The compensation paid to the trustees is fixed by order of the circuit court for the fourth judicial district of duval county, florida, which has jurisdiction over the trust. The court approves the trustee compensation after reviewing a compensation study prepared by an outside independent expert, such as a major national consulting firm. The court order setting the current compensation was issued on august 28, 2002, subject to periodic adjustments. Variations in trustee compensation occur because (1) pursuant to court order, a trustee who serves as chairman of the trust (currently, mr. Durden) receives an additional 10% base compensation over that of the other trustees, and (2) the trustees differ in the extent to which they utilize the health insurance and related fringe benefits offered by the trust.”

“The charitable trust's form 990 is based on the independently audited financial statements of the organization, is open for public inspection, and provides significant information about the organization's governance and conflict of interest policy compliance. The charitable trust's organizing documents and conflict of interest statements are included in its form 1023 application for exemption, which is available for public inspection. Similarly, the charitable trust's form 990, which is available for public inspection, is based on its financial statements. As such, the charitable trust does not make these documents separately available to the public.”

“The charitable trust was originally created upon the death of alfred i. Dupont in 1935 as a testamentary trust, primarily to advance his charitable objectives to provide medical services to children, and to care for the elderly. In a codicil to his will, mr. Dupont stated, " ... It has been my firm conviction throughout life that it is the duty of everyone in this world to do what is within his power to alleviate human suffering ... " true to this credo, mr. Dupont's will directed his trustees to create the nemours foundation as a non-profit, charitable corporation under the laws of florida. The nemours foundation is the principal beneficiary of the charitable trust, which qualifies as a type ii supporting organization, as defined in irc code section 509(a)(3)(b)(ii), based on the common control of the charitable trust and the nemours foundation by the individuals who serve as trustees of the charitable trust. The trustees of the charitable trust, as members of the nemours foundation, evaluate the performance of nemours and the effectiveness of the nemours board of directors in managing the affairs of the foundation, both collectively and individually. The nemours foundation operates and manages nemours children's health, one of the largest integrated children's health systems in the u.s. It provides pediatric primary, urgent, and specialty care; advocates for children's health through community resources and support; and conducts research to advance treatments. Nemours children's health operates in six states: delaware, florida, georgia, maryland, new jersey, and pennsylvania. Facilities include 2 freestanding children's hospitals, 71 primary, urgent, and specialty care locations, and 20 collaborating hospitals.”