Bay Point Schools Properties Inc

“The officers of the organization listed in part vii of the form 990 are all members of the same family. They are also directors of the ethel and w. George kennedy family foundation, inc. Which is a qualified 501(c)(3) and related entity -- see schedule r.”

“SEE NOTE ABOVE”

“The officers assist the accountants in the preparation of the 990 form. Any issues raised in the preparation of the form are resolved by the officers. The executive committee of the board reviews the return prior to filing. Any issues the committee may have are addressed.”

“The organization reaffirms its conflict of interest policy at a yearly board meeting. The organization monitors conflicts of interest policy by following written policies and procedures.”

“The secretary/treasurer compensation was calculated based on information from the association executive compensation study published by the american society of association executives in washington d.c., and is periodically reviewed by the board. The reportable compensation was paid by the ethel and w. George kennedy family foundation, inc”

“The administrative personnel set salary rates for all employees subject to the review and approval of the board.”

“The form 1023 filing and all updates shall be made accessible at the corporate offices of the company to any member of the public upon reasonable notice presented to the company.”

“The organization has been formed to hold title to a parcel of real property located in dade county, florida (the "property"). The property has been leased, on a long term nominal fee basis (1.00 per year), to an organization which is a public charity and is exempt from taxation under code section 501(c)(3). The property is required to be used exclusively for charitable purposes. The sole member of the organization is the ethel and w. George kennedy family foundation, inc. Which is a qualified 501(c)(3) organization and which was the sole provider of the funds necessary to purchase and maintain the real estate property including salary paid to one of its officers during the year. The organization is filing a final return due to the sale of the real estate property on 4/29/16. The organization ceased operations in may 2016.”

“Liquidation of bay point school -8,357,594 bay point school properties, inc. A 501(c)(2) corporation holds title to a real estate property located in miami, florida which was sold on 4/29/16 for 8,500,000 minus original tax basis and settlement charges in the amount of 1,168,303. Proceeds from the sale of the property less expenses were donated to its sole owner the ethel and w. George kennedy family foundation, a 501(c)(3) organization. Section . This donation is mandated by the organization's charter. Dissolution documents are attached.”