The Surety Foundation Inc

“With respect to the surety foundation, because of the position the organization holds in the industry it represents, we expect that many of our members will have incidental business relationships from time to time. All members of the board of directors are subject to the organization's conflict of interest policy and must disclose any known conflicts of interest.”

“The surety & fidelity association of america is the sole member of the foundation.”

“The surety foundation has one member, the surety & fidelity association of america, and that member is represented by sfaa's board of directors, who appoints the trustees of the surety foundation.”

“Governance decisions of the organization require approval by the sole member, sfaa”

“The tax return was prepared by outside accountants and reviewed by the president. Management distributed the draft of form 990 and related schedules to the sfaa executive committee and made it available to board members for inspection, prior to filing it with the irs.”

“The tsf board of directors requires all directors, officers and employees to complete and submit an annual statement of disclosure detailing any facts or circumstances that might constitute a conflict of interest. The board of directors further requires directors, officers and employees to submit an amended statement of disclosure to reflect any material changes or additions to the submitted information that may arise during the course of the year. Directors, officers and employees are encouraged to err on the side of disclosure and to report any set of circumstances that may appear to pose a conflict of interest, even if there is uncertainty as to whether such circumstances should be disclosed. The board of directors recognizes that conflicts of interest are not uncommon, and that not all conflicts of interest are necessarily harmful to tsf. However, the board requires full disclosure of all actual and potential conflicts of interest. Under the policy, the board of directors determines whether or not a conflict of interest exists, and whether or not such conflict materially and adversely affects the interests of tsf. A director, officer or employee whose potential conflict is under review may not debate, vote, or otherwise participate in such determination. If the board of directors determines that an actual or potential conflict of interest does exist, the board shall also determine whether the conflict should be waived or identify an appropriate remedy. Such remedy may include, for example, the recusal of the conflicted director, officer or employee from participating in certain matters pending before the board.”

“These documents are not available to the public.”