Second Century Foundation

“Family/business relationships amongst interested persons david garland - business relationship tyler thompson - business relationship ashley stinton - business relationship johan holmberg - business relationship”

“There is no committee with the authority to act on behalf of the governing body.”

“Review of form 990 by governing body the return is prepared and completed internally by the organization. Once an initial review of the return is completed, the draft form 990 is reviewed by a public accounting firm. The organization provides a final draft copy of the form 990 to the officers and the board of directors for review before filing.”

“Conflict of interest policy each year the conflict of interest policy is distributed to the current officers and directors. These individuals are asked to disclose any current or potential conflicts. In addition, on an annual basis, they receive an questionnaire designed to determine if there are conflict issues that need to be addressed by the governing body or reported on the irs form 990. Any potential or actual conflicts of interest are reviewed and evaluated initially by the foundation board, then by the nar legal department and followed up on by the nar general counsel. After hearing the findings of the general counsel, the foundation board of directors determine the appropriate steps to alleviate, monitor and deal with conflicts, such as restricting the actions of persons with a conflict by prohibiting them from participating in the governing body's deliberations and decisions for a particular transaction.”

“Process for determing compensation the foundation for innovation in real estate does not have any compensated officers or key employees; therefore these questions are not applicable.”

“Required documents available to the public the organization makes its governing documents and financial statements available to the public on a case by case basis upon request. Conflict of interest policies are available upon request at any time.”

“Consulting: program service expenses 0. Management and general expenses 62,700. Fundraising expenses 0. Total expenses 62,700.”

“At the time of the filing, second century foundation inadvertently reported national association of realtors as a related organization. National association of realtors and second century foundation are not considered related organizations per irs instruction and guidance, and therefore, we are amending the returns to reflect as such. The changes to the form 990 are reflected in the following sections: form 990 part vi, form 990 part vii, form 990 part ix, schedule j, schedule o, and schedule r.”