Prea Foundation Inc.

“The draft federal form 990 is reviewed by the president of the pension real estate association who also serves on the board of directors of the foundation. Such review takes place upon receipt of the draft form 990 received from an independent public accounting firm. The review includes the financial information reported and a review of all narrative information for accuracy and completeness prior to filing with the internal revenue service.”

“Statement of policy: no board director shall use his or her position, or the knowledge gained therefrom, in such a manner that a conflict between the interest of the foundation or any of its affiliates and his or her personal interests arises. Each board director has a duty to place the interest of the foundation foremost in any dealings with the organization and has a continuing responsibility to comply with the requirements of this policy. The conduct of personal business between any board director or committee member and the organization and any of its affiliates is prohibited. Board or committee members may not obtain for themselves, their relatives, or their friends a material interest of any kind from their association with the organization. If a board director has an interest in a proposed transaction with the organization in the form of a significant personal financial interest in the transaction or in any organization involved in the transaction, or holds a position as trustee, director, or officer in any such organization, he or she must make full disclosure of such interest before any discussion or negotiation of such transaction. Any board director or committee member who is aware of a potential conflict of interest with respect to any matter coming before the board or committee shall not be present for any discussion of or vote in connection with the matter. Disclosure: to implement this policy, board directors of the organization will submit annual reports on the attached forms and, if not previously disclosed, will make disclosure before any relevant board or committee action. These reports will be reviewed by the board of directors or an appointed committee of the board of directors, which will attempt to resolve any actual or potential conflict(s) and, in the absence of resolution, refer the matter to the board of directors.”

“The foundation will make these documents available upon review of any such request.”

“The foundation had no employees in 2018. The foundation's contribution income in 2018 was principally from efforts of its voluntary board members.”

“During the year ended december 31, 2018, an audit committee was established in order to assume responsibility for oversight of the audit.”