Foster Nation

“David milken and maggie lin have a family relationship.”

“The organizations bylaws were amended in the following manner: -to adjust the size of the board of directors to 1-15 directors and to add a four-term limit; -to create a non-voting board observer role; -to streamline the officer hierarchy to the following: executive director, secretary, treasurer, and optional additional officers, and updated the officer terms from one-year to two-year terms; -updated the compensation rules so that directors may not vote on their own compensation; -consolidated and simplified committee provisions while retaining statutory limitations on committee authority; and -updated the requirements for bylaw amendments including limitations on extending director terms and maintenance of higher voting thresholds.”

“Form 990 review process the form 990 review process consists of the executive director working with the accountant to provide all requested information by grant thornton team. Once there is a draft, the form 990 is shared with the accountant and the board treasurer to review. Once finalized, the executive director moves forward with grant thornton team to file.”

“Conflict of interest policy annually all directors, officers, committee members and employees must disclose any interests that could give rise to conflicts. Any actual, potential, or apparent conflicts are referred to the president/secretary, and board of directors, who take appropriate action, when necessary. In case of any potential conflict or conflicts related to financial transactions the matter is presented to the board of directors, who take action in compliance with applicable federal law relevant to "excess benefit transitions and applicable california law. All persons who violate the policy under irs code section 4958 may be subject to discharge or removal from his/her position with the corporation by vote of directors.”

“Availability of documents the governing documents are made available to the public upon request.”

“Other fees: program service expenses 72,596. Management and general expenses 107,762. Fundraising expenses 30. Total expenses 180,388.”