Matthew and Karen Cullen Family Foundation

“Family relationship: matthew p. Cullen and karen a. Cullen.”

“The board of trustees of the community foundation for southeast michigan annually appoints three of the five directors of the matthew and karen cullen family foundation.”

“The organization had no committee with the authority to act on behalf of the governing body.”

“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 990. Once all necessary changes were made, it was signed by the president, dated and submitted by the extended filing deadline. A copy of the approved form 990 was provided to all directors before the return was filed.”

“Each director signed a statement that affirms that such person: 1) has received a copy of the conflict of interest policy; 2) has read and understands the policy; 3) has agreed to comply with the policy; 4) understands that the matthew and karen cullen family foundation is a charitable organization that in order to maintain its federal tax-exemption it must engage primarily in activities which accomplish one or more of its tax-exempt purposes.”

“The compensation for mariam c. Noland, president of the community foundation for southeast michigan and president for the matthew and karen cullen family foundation (ending 3/31/22) and richard l. Devore, president of the community foundation for southeast michigan and president for the matthew and karen cullen family foundation (beginning 4/1/22, is set by the related organization. The following steps are taken at the related organization. The individual provides the chair, executive committee of the community foundation 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 matthew and karen cullen family foundation makes its financial statements available to the public upon request and also the combined statements appear on the web site and in the annual yearbook of the community foundation.”

“An audit was conducted on the december 31, 2022 combined financial statements of the community foundation for southeast michigan and its supporting organizations, including the matthew and karen cullen family foundation. 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 is provided by the community foundation audit committee.”