Lotus Endowment Fund Inc

“Kathryn villano julie lotspeich director secy/treas sisters”

“The draft of form 990 is provided to the board for review and comments prior to filing, in addition to being reviewed and approved by the president and vice president of the foundation.”

“No officer or employee shall solicit or accept any gift, gratuity, favor compensation, or anything of value, in cash or in kind, from any existing or prospective contractor or recipient or beneficiary of expenditures of the fund, except for a gift that is an unsolicited item of nominal value or as otherwise may be fully disclosed to and expressly approved by the board. No officer, employee, or agent may participate in the selection, award or administration of a contract supported by grant program funds from governmental sources if a real or apparent conflict of interest would be involved. Such a conflict may arise when any of the following parties has a financial or other interest in the firm selected for the award: an employee, officer or agent of the fund; any member of an employee's, officer's or agent's immediate family; an employee's, agent's or officer's partner; or an organization which employs or is about to employ any of the parties in the preceding sections.”

“Special procedures are in place for board review if there should be a compensation level for an employee exceeding 55,000. Compensation for all employees will be reviewed and subject to board approval annually.”

“Special procedures are in place for board review if there should be a compensation level for an employee exceding 55,000. Compensation for all employees will be reviewed and subject to board approval annually.”

“The organization makes its governing documents, conflict of interest policy, and financial statements available to the public upon request. This information is also posted on guidestar's website.”

“The lotus endowment fund, inc. Is a 501(c)(3) supporting foundation for the sundari foundation, inc. And its initiatives, including the lotus house women's shelter. The endowment fund was formed to secure the financial stability and long-term viability of the sundari foundation, so the lotus house will serve as a resource for women, children and youth in need for generations to come. Part iii, line 1 lotus endowment fund, inc. Owns the facilities located at 2040 nw 7th ave, miami, fl 33127 and 420 nw 35th street, miami, fl 33127 and leases such facilities to the sundari foundation, inc. Pursuant to a 50 year lease at an annual rent of 1 per year. For 2024, the annual rental value of such facilities was approximately 219,000. Lotus village ii, llc, a wholly owned subsidiary of lotus endowment fund, inc., owns the vacant land located at 219 nw 14th terrace, miami florida and leases such land to the sundari foundation, inc. There is no rent or value attributed to such leased land. It is pending development as a new neighborhood children's resources center serving the sheltered children and families of lotus house and its surrounding neighborhoods. All of these facilities are used by the sundari foundation, inc. In connection with its charitable and educational purposes as a shelter and resource center for homeless women and children. Lotus endowment fund, inc. Also raises grants, donations, and contributions for the benefit of the sundari foundation, inc. So that the sundari foundation, inc. Can carry out its charitable and educational purposes.”