Sewall Child Development Center Inc.

“1. Board members john chahbandour and gene koebel have a family relationship. 2. Board members gene koebel and carolyn stambaugh have a family relationship. The above relationships do not impair the independence of any member, since neither the member nor related party was involved in any transaction reportable on schedule l.”

“The draft 990 was reviewed by the chief executive officer (ceo) and distributed by the ceo to the finance committee for review before signing the final document. The contract accountant also reviewed the financial statement portion of the draft.”

“All staff, volunteers, and board members must avoid potential and actual conflicts of interest, as well as perceptions of conflicts of interest. Any conflict of interest, potential conflict of interest or the appearance of a conflict of interest must be reported to the ceo immediately. Members of the board are prohibited from accepting gifts, money or gratuities from the following: a. Persons receiving benefits or services from sewall; b. Any person or entity performing or seeking to perform services under contract with sewall; and c. Persons who are otherwise in a position to benefit from the actions of the board. Any board member who has a conflict of interest must abstain from voting on any matter to which the conflict of interest applies, and each board member must fully disclose to the ceo and then the ceo must fully disclose to the chairman of the board, all material facts regarding the conflict of interest and the conflicted transaction. All staff, volunteers, and board members must periodically sign an acknowledgement of their understanding of the purposes of the policy and their agreement to make full written disclosure of any matter that could potentially be a conflict of interest as soon as they learn of it.”

“The current ceo's compensation was determined and documented by the board of directors after conducting a national search of compensation for similar positions in other nonprofit organizations in 2001. The ceo's compensation is reviewed annually.”

“The organization makes its governing documents, conflict of interest policy, financial statements and form 990 available to the public upon request. The requested information is supplied electronically via email or a hard copy is sent via regular mail.”

“Change in value of perpetual trust 10,390. Impairment of abandoned design and architectural fees -617,929.”

“The process of audit oversight and selection of independent accountant has not changed in the last year.”

“Sewall is the beneficiary of an irrevocable perpetual trust administered by a third-party. The trust agreement provides for the distribution of the net income of the trust to sewall; however, sewall will never receive the assets of the trust. At december 31, 2014, the fair value of the assets held by the trust was $162,574. The value of the trust increased $10,390 during 2014, and the trust made a distribution of $7,625 to sewall for its unrestricted use.”

“Reimagining excellence for all in a community with heart ("reach") is a central denver charter elementary school in which educators and families reimagine excellence for all in a community with heart. Reach received its 503(e) status as well as grants during november of 2014. Prior to receiving the 503(e) status, sewall recorded revenue and expenses on their behalf and included it as part of their statement of activities. Reach is set to open during the fall of 2015.”