Morris I Franco Endowment Foundation Inc

“The sole member of the MIF(morris i. franco endowment foundation, inc.) is HILLEL SCHOOL (D.B.A. HILLEL YESHIVA). A majority of the Board of Trustees will be elected or appointed by HILLEL, as the supported organization.”

“The organization is an affiliate within hillel school (d.b.a. Hillel yeshiva), a tax-exempt school. Hillel yeshiva is the tax-exempt parent entity of morris i. Franco endowment foundation, inc. Hillel yeshiva and morris i. Franco endowment foundation inc., regularly monitor and enforce compliance with its conflict of interest policy. Annually all members of the board of trustees, officers and members are required to review the existing conflict of interest policy and complete a questionnaire. The completed questionnaires are returned to the organization and the system's president/chief executive officer for review. Thereafter the president/chief executive officer prepares a summary of the completed questionnaires which contains information disclosed on an individual by individual basis, if applicable, for review by the organization's board of trustees.”

“The organization does not have employees; nor does it have a need for employees. In the event the organization has a need for and retains employees in the future, a compensation review and approval process that meets the criteria outlined in the internal revenue service rebuttable presumption of reasonableness will be implemented.”

“The organization has issued governing documents, conflict of interest policy, and financial statements. In conjunction with the issuance of these documents, the organization's financial statements were made available to the general public for review. In addition, the organization's filed certificate of incorporation and any amendments can be obtained and reviewed through the state of new jersey department of the treasury.”

“The taxpayer is affiliated with hillel school (d/b/a hille yeshiva) through common ownership and management. An independent cpa firm reviewed the consolidated financial statements of the taxpayer and hillel for the years ended august 31, 2018 and august 31, 2017; respectively, and issued a reviewed financial statement. Hillel is a school recognized by the internal revenue service as tax-exempt under internal revenue code section 501(c)(3). Hillels finance and planning committee assumes responsibility for oversight of the review of the consolidated financial statements and the selection of its independent accountant.”