Town Lake Trail Foundation

“The Finance Committee reviews Form 990 before it is finalized and filed.”

“Directors are reached out to individually at the start of every year to update and sign the Conflict of Interest form and reminded of their duty to disclose potential conflicts. Any Director who states a potential conflict is given the opportunity to disclose all material facts to the directors and members of committees considering the proposed transaction or arrangement. After disclosure of any potential or perceived conflicts of interest and all material facts, and after discussion with the interested person, the Executive Committee determines whether a potential or perceived conflict of interest exists. If they determine there is a potential or perceived conflict of interest then the Executive Committee then discloses to the Board the potential or perceived conflict of interest. Procedures for addressing any conflicts are within our Conflicts of Interest Policy.The minutes of a Board meeting in which a conflicted person(s) is present, the minutes contain the names of the persons who disclosed or otherwise were found to have an interest in connection with an actual, potential, or perceived conflict of interest, the nature of the interest, any action taken to determine whether a conflict of interest was present, and the Executive Committees or Boards decision as to whether a conflict of interest in fact existed. In addition, minutes include the names of the persons who were present for discussions and votes relating to the transaction or arrangement, the content of the discussion, including any alternatives to the proposed transaction or arrangement, and a record of any votes taken in connection therewith.Each Director, member of a committee, and staff of the Organization annually sign a statement which affirms that such persona. has received a copy of the conflicts of interest policy,b. has read and understands the policy,c. has agreed to comply with the policy, andd. understands that the Organization is a charitable organization and that in order to maintain its federal tax exemption it must engage primarily in activities which accomplish one or more of its tax-exempt purposes.”

“The Organization's independent Board draws upon other board experience, business experience, discussions with other organizations, and any other sources considered necessary to determine compensation for the Executive Director and any other officers.”

“Certain other documents are available upon request.”

“Change in value of beneficial interest = $8166”