Sports Fans Coalition Ny Inc

“The form 990 was prepared by the outside accountants and reviewed by the board of directors prior to filing with the irs.”

“Whenever a director, officer, or committee member becomes aware of a potential conflict of interest, s/he shall make the situation known to the board or committee and provide all facts material to understanding the nature and scope of the conflict. If the interested person involved does not make this disclosure, another director or committee member with knowledge of the potential conflict should draw it to the body's attention. The interested person with the potential conflict must retire from the meeting and not participate in final discussion and voting on the existence of the conflict. If a conflict is found to exist, the interested person may be invited to provide any relevant information that could be of use to the board in making its decision, but shall again retire and not participate in the final discussion and voting regarding the transaction. The board or committee's decision shall be based on consideration of whether the transaction: a. Is in the organization's best interest and for its own benefit; b. Is fair and reasonable to the organization; and c. Is the most advantageous transaction or arrangement the organization can obtain with reasonable efforts under the circumstances.”

“The organization makes its governing documents, conflict of interest policy, and financial statements available upon request.”

“The attached board minutes show approval of the term sheet. The term sheet provides: "the agreement will provide that goodfriend and sfcny will conduct an orderly wind down of the sfcny non-profit organization to pay all creditors and vendors and agree that there would be no payments made or assets distributed to sfcny principals (or members of their family), including mr. Goodfriend, nor to sports fans coalition nor to the electronic frontier foundation. Goodfriend and sfcny will undertake commercially reasonable efforts to complete the wind-down in no more than 90 days from the date of execution of the agreement." this demonstrates the board approved the terms of this settlement agreement on this date, and that it included the term cited above, which required that sfcny wind down its operations and transfer any funds remaining after payment of creditors and vendors to the plaintiffs in the litigation.”