The Woodland Foundation

“The board has elected to retain a licensed certified public accounting firm to prepare the irs form 990. The executive director has reviewed the irs 990 and has approved the submission and signing of the return.”

“1. Duty to Disclose In connection with any actual or possible conflict of interest, an interested person must disclose the existence of the financial interest and be given the opportunity to disclose all material facts to the trustees and members of committees with governing board delegated powers considering the proposed transaction or arrangement. 2. Determining Whether a Conflict of Interest Exists After disclosure of the financial interest and all material facts, and after any discussion with the interested person, he/she shall leave the governing board or committee meeting while the determination of a conflict of interest is discussed and voted upon. The remaining board or committee members shall decide if a conflict of interest exists. 3. Procedures for Addressing the Conflict of Interest D.An interested person may make a presentation at the governing board or committee meeting, but after the presentation, he/she shall leave the meeting during the discussion of, and the vote on, the transaction or arrangement involving the possible conflict of interest. E.The chairperson of the governing board or committee shall, if appropriate, appoint a disinterested person or committee to investigate alternatives to the proposed transaction or arrangement. F.After exercising due diligence, the governing board or committee shall determine whether the Organization can obtain with reasonable efforts a more advantageous transaction or arrangement from a person or entity that would not give rise to a conflict of interest. G.If a more advantageous transaction or arrangement isn't reasonably possible under circumstances not producing a conflict of interest, the governing board or committee shall determine by a majority vote of the disinterested trustees whether the transaction or arrangement is in the Organization's best interest, for its own benefit, and whether it is fair and reasonable. In conformity with the above determination it shall make its decision as to whether to enter into the transaction or arrangement.”

“Upon request the original irs form 1023 application and tax exempt determination letter along with all financial documents for the year in question will be provided for examination to all interested parties.”

“TAX SOFTWARE HAS LIMITATIONS ON TITLE/POSITION FOR OFFICER'S. WE ARE USING SCHEDULE O TO PROVIDE THE ACTUAL TITLES TO THESE OFFICERS. PRESIDENT ELECT - Mr. J. Michael Mike Allen IMMEDIATE PAST PRESIDENT-Mr. Mark G. Holladay PRESIDENT-Mr. Joseph D. Jody Hudgins CHAIRMAN-Mr. Scott E. Latham CHAIRMAN ELECT-Mr. Colin Barrett IMMEDIATE PAST CHAIRMAN-Mr. Robert T. Bob Taylor. THIS GROUP OF OFFICERS REPRESENT THE EXECUTIVE BOARD.”

“Transfers of assets = $2135761”

“OUT OF AN ABUNDANCE OF CAUTION, THIS ENTITY HAS BEEN CREATED TO, The Foundation is organized solely and exclusively to support an advanced school of banking known as, TSBS, Inc., FID 72-0019332, and for other educational and professional purposes not inconsistent with the Foundation's status as a nonprofit Foundation under Section 501 c 3 of the Internal Revenue Code or its successor provisions. The Foundation's purpose is to accept donations and to hold and invest funds to support operation of an advanced school of banking known as TSBS, Inc., FID 72-0019332, and for other educational and professional purposes not inconsistent with the Foundation's status as a nonprofit Foundation under Section 501 c 3 of the Internal Revenue Code or its successor provisions and as more fully set forth in the Articles of Incorporation. ACCORDINGLY, THIS ENTITY WILL SERVE AS A SUPPORTING ORGANIZATION TO TSBS, INC., FID 72-0019332. THE DISCLOSURE OF THE TRANSACTIONS ON SCHEDULE R IS NECESSARY TO COMPLY WITH ALL PERTINENT DISCLOSURE REQUIREMENTS, AS MANDATED BY THE INSTRUCTIONS TO THE IRS FORM 990.”