A New Leaf Inc.

“Board members frank bennett and anne bennet-perez have a family relationship.”

“The organization does not have any committees that have the authority to act on behalf of the governing body.”

“The form 990 is prepared by the independent certified public accounting firm who conducted the financial statement audit and is then presented to the cfo and the ceo of a new leaf for their review and discussion. Once approved by them, the form 990 is distributed to the board of directors prior to filing with the irs.”

“All members of the board of directors and key leadership staff complete conflict of interest forms as required under a new leaf, inc.'s conflict of interest policy. The organization's management team monitors compliance with policies and use of vendors, agencies, professionals or other outside organizations to ensure compliance with policies. Board members recuse themselves from discussions or votes when potential conflict of interest arise. Board members annually complete a disclosure of conflict of interest statement which is maintained by the governance committee and the ceo and forwarded to any government agencies which require such disclosure.”

“The ceo's salary is determined annually by the executive committee of the board of directors in conjunction with an annual performance review. The executive committee considers comparative market data for similar positions in comparable organizations in setting the annual salary for the ceo. The ceo follows a similar process in setting the salaries of key employees and officers of the organization with annual performance reviews and analyses of market data for similiar positions in comparable organizations. The board of directors approves the salaries of key employees and other officers in the budget approval process for the organization. Written contemporaneous substantiation is kept of the decisions made.”

“A new leaf, inc.'s form 990 and current audited financial statements are posted on the organization's website. A public copy of the form 990, the conflict of interest policy and other governing documents are available upon request at the organization's administration office during regular business hours.”

“Miscellaneous expense: program service expenses 0. Management and general expenses 1,000. Fundraising expenses 1,225. Total expenses 2,225. Housing development: program service expenses 1,475. Management and general expenses 256. Fundraising expenses 321. Total expenses 2,052.”

“Excess of assets acquired over liabilities assumed of the new foundation 2,727,300. Investment income (loss) in subsidiary -1,734,694. Bad debt expense -40,436.”

“There has been no change in either the oversight process or the selection process during the tax year.”