Southeast Michigan Opportunity Trust

“Co-trustees are appointed by a majority vote of the board of trustees of the community foundation for southeast michigan.”

“The organization had no committees.”

“The draft irs form 990 was distributed electronically to all directors for review and comment prior to filing. The draft form 990 was prepared by professional tax preparers prior to the directors' review. Any necessary changes were updated on the form. Once all necessary changes were made it was signed by the designated co-trustee, dated and submitted by the filing deadline. A copy of the approved form 990 was provided to all the directors before the return was filed.”

“Each year, promptly following the close of the calendar year, each co-trustee shall complete and submit to the trust a conflict of interest disclosure statement.”

“The compensation for richard l. Devore, president of the community foundation for southeast michigan, is set by the related organization. The following steps are taken at the related organization. The individual provides the chair and executive committee of the community foundation with a summary of annual accomplishments. The chair discusses the summary with the executive committee. The executive committee determines the compensation of the foundation president after reviewing comparable compensation information of similarly qualified persons in functionally similar positions from similarly situated organizations with periodic review by independent firms and such decisions are contemporaneously documented as required.”

“The organization makes its financial statements available to the public upon request and also the combined statements appear on the website and in the annual yearbook of cfsem.”

“An audit was conducted on the december 31, 2024 combined financial statements of the community foundation for southeast michigan and its supporting organizations, including southeast michigan opportunity trust. The financial statements were prepared, and the audit was conducted in accordance with u.s. Gaap. An unmodified opinion was issued by the auditor. Oversight was provided by the cfsem audit committee.”