Ole Health Foundation

“Ole health foundation does not have "members" by definition of the bylaws; however, the form 990 instructions also define a "member" as any person (including a corporation or other legal entity) who, pursuant to a provision of the organization's governing documents, has the right to participate in the organization's governance (including electing members of the governing body). Accordingly, ole health foundation has one sole member: ole health.”

“Ole health (ole health foundation's supported organization) has the power to appoint each of the directors of ole health foundation.”

“To prepare the form 990, the organization utilized a professional accounting firm who worked with the organization's finance and accounting team to gather the required information. Upon review of the form 990 by the organization's management team, a copy of the form 990 with all related schedules and statements was provided to members of the board of directors before filing in order to allow sufficient time for review and comment.”

“Directors and officers of ole health foundation have a responsibility to make full disclosure of interests that might result in or have the appearance of a conflict in satisfying their fiduciary obligations to ole health foundation. In that regard, it is the policy of ole health foundation to refrain from consummating any transaction involving a potential conflict of interest until all relevant and pertinent facts regarding the potential conflict have been disclosed and considered, during which time the interested party would refrain from deliberations. Directors and officers are required to review and sign the "statement pertaining to conflict of interest and confidentiality" upon appointment, election and hire, and then annually thereafter. Activities that may cause a conflict of interest are reported to and monitored by the board chair.”

“The organization does not directly compensate any individuals; all employees performing work for ole health foundation are compensated by ole health, a related organization. As such, part vi, section b, lines 15a and 15b have been answered "no" as mandated by the form 990 instructions.”

“The audited financial statements, conflict of interest policy, and governing documents are all available upon request.”

“Consulting fees: program service expenses 0. Management and general expenses 47,014. Fundraising expenses 0. Total expenses 47,014.”