Copperhead Charities Inc.

“In september 2013, the organization entered into a sports event management and marketing agreement (the "agreement") with pro links sports of tampa, llc. Pro links is a full-services golf management company that provides management and marketing functions for the valspar championship effective june 1, 2014. Pro links, through its affiliates, manages and markets various pga tour-sanctioned golf tournaments similar to the valspar championship throughout the country. The agreement provides that pro links will manage all aspects of the valspar championship, including sales and marketing, course operations, tournament operations, and activities involving players, hospitality and volunteers. To fulfill its responsibilities under the agreement, pro links will assign various employees and contractors to the performance of services within the agreement. As such, previous employees of the organization became employees of pro links effective june 1, 2014. The agreement shall remain in effect from its initial term and shall run co-terminus with the title sponsor agreement, including any renewals or extensions. The organization compensates pro links for all employment and tournament expenses as outlined in the agreement. In addition, the organization pays an annual management fee, totaling $472,330 for the fiscal year ended may 31, 2020, plus an annual performance bonus based on net tournament proceeds (as defined in the agreement). The organization paid pro links approximately $1,677,000 for the year ended may 31, 2020. This amount includes employment and tournament expenses, annual management fee, and annual performance bonus.”

“A copy of the form 990 was provided to the board of directors for review and approval prior to its filing.”

“The conflict of interest policy is described in the organization's bylaws. All officers, directors and key employees have been made aware of the policy and are expected to dicsclose any potential conflicts and to recuse themselves from any discussion or vote related to that matter.”

“The compensation of the president of the organization is determined through a process by which information is gathered regarding salaries paid to individuals in similar positions at other organizations. This information is used to help the board arrive at the president's compensation package, which is spelled out in a formal employment contract. The organization has two officers other than the president and no other key employees. Their compensation is proposed by the president, based upon compensation paid for similar positions in other organizations, and is approved by the board of directors.”

“The organization notes that it is not required to make its governing documents, conflict of interest policy, and financial statements available to the public.”

“The forms 1023 and 990 are available to the public upon request.”

“Copperhead charities, inc. Contracts with a sports management organization for the administation of its employees. Under this agreement, all employees of copperhead are in actuality employees of the sports management organization. Due to this agreement, copperhead charities does not file a form w-3 transmittal of wage and tax statements, but rather the sports management organization will file form w-3 that would include the employees of copperhead charities. As of may 31, 2020, copperhead charities was utilizing 12 employees through the sports management organization.”

“The process for oversight of the audit and selection of the independent auditors has not changed from the prior year.”