Traillionaires Foundation

“A draft of the Form 990 is reviewed by the Treasurer and Executive Director, then shared with the full governing body prior to filing. Board members review the return and may provide feedback during a meeting or electronically to ensure accuracy and transparency.”

“Any conflicts of interest, including, but not limited to financial interests, on the part of any Board Member, shall be disclosed to the Board when the matter that reflects a conflict of interest becomes a matter of Board action within the meeting minutes, and through an annual procedure for all Board members to disclose conflicts of interest. Any Board Member having a conflict of interest shall not vote or use his or her personal influence to address the matter, and he or she shall not be counted in determining the quorum for the vote in question and will abstain.”

“Upon final review and approval of the final 990 by the Foundations Board, the Foundation will make the 990 available to the public.”

“The Trallionaires Foundation makes its Form 990 and governing documents available to the public upon request. Copies may be obtained by contacting the organization directly.”

“The Foundationss Board has determined the need to perform a full audit for the fist full year of operations would not be purudent financially, however, the Finance Committe will perform a 100% detailed review of revenue and expense along with the preparation of the financial statements.”

“Schedule O (Form 990), Part IX, Line 11g** Other Fees for Service Part IX, line 11g includes payments for the following professional services: 1. Purchase or rental of equipment for events and programs - $33,089.07 2. Other Contractors - Program $7,903 3. Other professional services - $7,576 4. Banking and Merchant Services - $5,030”

“Schedule O (Form 990), Part IX, Line 24e Other Expenses Part IX, line 24e includes the following expense categories: 1. Other Program Expenses for Services”

“For full disclsoure the Foundations purpose is to cultivate higher standards of excellence and service in our youth of color through career education and experience, life skill development, financial education, and youth advocacy.”