USA Cycling Development Foundation

“An officer/director of the organization was an officer/director of an investment bank and some other directors may have deposits with that institution.”

“The foundation hires usa cycling to provide management and administrative services.”

“Form 990 is sent to the executive committee and they are given a date to give comments by. Any modification will be made and then the 990 will be signed and filed.”

“The completion of an annual conflict of interest form is a prerequisite for participation with usa cycling foundation. Annually, each appropriate person will be provided a disclosure statement form concerning the conflict of interest policy. These forms are to be completed and returned to the executive director of usa cycling foundation or his or her designee, even if there are no conflicts of interest. The executive director will review these disclosures and will maintain this information in confidence. Each individual should openly and forthrightly identify any areas that represent a potential conflict of interest. Each individual will disclose all of the directorships and officer positions held in for-profit or not-for profit organizations, as well as any consulting and employment relationships in any concern with which he has reason to believe usa cycling and/or usa cycling foundation does business with or from which usa cycling and/or usa cycling foundation will secure goods or services, and which he has reason to believe may be affected by his actions on behalf of usa cycling and/or usa cycling foundation or actions of usa cycling and/or usa cycling foundation. Individual or family ownership in business ventures where more than five percent of the total value of the company is owned or where more than ten percent of the outstanding shares are owned, requires disclosure. Each individual will also disclose family relationships in which you or your immediate family are employed by or render services to any outside concern that does business with usa cycling and/or usa cycling foundation. "family" is defined to include spouse, children, parents, brother and sisters. Each individual will also disclose any confidential information of usa cycling and/or usa cycling foundation that has been used or disclosed for any purpose other than to carry out that person's duties. As conflicts of interest arise throughout the year, each individual must submit an updated disclosure form within 30 days of the conflict of interest arising.”

“The foundation makes their governing documents and financial statements available upon request. The foundation's 990 is available on the foundation's website.”

“The number of directors listed in this section is greater than the number of directors reported in part vi, section a, lines 1a and 1b due to turnover in members during the year.”

“The process has not changed from the prior year.”