Astronaut Scholarship Foundation Inc.

“A draft of the Organization's Form 990 is prepared by an independent certified public accounting firm based on information resulting from the Organization's audited financial statements and other information provided by the Organization to such accounting firm. This draft of the Form 990 is then reviewed by the Organization's Executive Director and Treasurer. The accounting firm then prepares a second draft of the Form 990 to address any comments or issues raised by the Organization's Executive Director and Treasurer. This second draft of the Form 990 is then submitted to the Organization's Executive Committee. The Executive Committee is a Committee comprised entirely of members of the Organization's Board of Directors, and is established by the Organization's Board of Directors (pursuant to authority granted in the Organization's Bylaws). Pursuant to the Organization's Bylaws, the Executive Committee is granted the power and authority to take action on behalf of the Organization in the same manner and to the same extent as the Organization's Board of Directors (except for certain specified limitations on authority not relevant for this purpose). At that point, a final draft of the Form 990 is prepared by the accounting firm and the Form 990 is then signed by the Organization's Executive Director and filed with the IRS.”

“The Organization's Bylaws provide that any Director with a conflict of interest or potential conflict of interest disclose such conflict prior to any vote on such matter. The Organization's Executive Director and General Counsel both serve as Directors and are familiar with every material transaction evaluated by or conducted by the Organization, and such persons investigate whether they believe any transaction involves a conflict of interest or potential conflict of interest. If a conflict or potential conflict is determined, such information is brought to the attention of the Organization's Executive Committee or Board of Directors, as appropriate. No further action is taken with regard to such transaction without further consideration of the transaction being given by the Board of Directors or Executive Committee, as appropriate, and taking into account any such conflict or potential conflict.”

“The Organization only has one Director that receives compensation as an employee of the Organization, and that is the Organization's Executive Director. The compensation of the Executive Director is annually reviewed and evaluated by the Organization's Executive Committee, taking into account the Executive Director's performance for the prior year and anticipated duties and goals for the coming year, among other considerations (which includes the evaluation of compensation paid to Executive Directors for other not-for-profit organizations). The Executive Director is a member of the Executive Committee, but the Executive Director is prohibited from voting on her compensation, and is excluded from all discussions involving the evaluation of her performance and other compensation factors. The Organization's Executive Committee is a Committee comprised entirely of members of the Organization's Board of Directors, and is established by the Organization's Board of Directors (pursuant to authority granted in the Organization's Bylaws). Pursuant to the Organization's Bylaws, the Executive Committee is granted the power and authority to take action on behalf of the Organization in the same manner and to the same extent as the Organization's Board of Directors (except for certain specified limitations on authority not relevant for this purpose).”

“The Organization's Form 990 is posted on GuideStar's website, and is available for review at http://www.guidestar.org/. The Organization's Articles of Incorporation are fully accessible for review by the general public, without fee or charge, on the Sunbiz website hosted by the Florida Department of State (http://www.sunbiz.org/search.html). The Organization's financial statements, Bylaws and other pertinent information is available for review by the general public upon providing a written request to the Organization's Executive Director stating the documentation requested to be reviewed and the reason for the request. Each request is considered by the Organization's Executive Director and General Counsel, who use their good faith efforts to ensure that the Organization complies with any and all requests that such representatives of the Organization believe to be reasonable in form, scope and nature.”