Cav Futures Foundation

“The board of directors are nominated and voted on by the current board of directors.”

“The board of directors meet and approve the annual budget, contractual arrangements, and financial spending thresholds.”

“The board of directors will review the 990 before it is filed.”

“The directors and officers of cav futures foundation (the "corporation"), owe a duty of loyalty to the corporation, which requires that in serving the corporation they act, not in their personal interests or in the interests of others, but rather solely in the interests of the corporation. Directors and officers must have an undivided allegiance to the corporation's mission and may not use their position as directors or officers, information they have about the corporation, or the corporation's property, in a manner that allows them to secure a pecuniary or other material benefit for themselves or their relatives. Accordingly, no director or officer may use his or her position at the corporation for personal gain; to benefit another at the expense of the corporation, its mission, or its reputation; or to engage in any transaction or arrangement that might result in an excess benefit transaction as defined by section 4958 of the internal revenue code. This policy is intended to protect the corporation's interests when it is contemplating entering into a contract, transaction, or arrangement that might benefit the private interests of a member of the corporation's board of directors or an officer of the corporation. Every director and officer must discharge his or her duties in good faith, with the degree of care that an ordinarily prudent person in a like position would exercise under similar circumstances. This policy is intended to supplement but not replace any applicable state and federal laws governing conflicts of interest applicable to nonprofit and charitable organizations”

“The board of directors determine the executive director compensation.”

“The 990 and other organizational documents are made available upon request.”

“To conduct charitable and educational activities, including, without limitation, providing grants and other support to nonprofit organizations in and beyond the virginia, maryland, and dc metropolitan areas, specifically including charlottesville, va; educating and empowering collegiate athletes to use their personal brands in support of charitable organizations and causes; and building out a strong network of student athletes and alumni to support career development pathways and other practical life skills programs.”

“Book/tax gain on sale of invest -128,985 book/tax difference - interest income -16,383 total -145,368”