Delray Concours Foundation

“Names and addresses of directors and officers: william himmerlich, vp, 45 s congress ave, delray beach, fl 33444; christopher nicotra, treasurer, 1906 n swinton ave, delray beach, fl 33483; marc grimes, director, 614 sw 4th ave, delray beach, fl 33483, stephen greene, secretary, 9587 barletta winds pt, delray beach, fl 33446; robert cantwell, director, 1007 e heritage club cir, delray beach, fl 33483; kerry filippone, director, 2000 s ocean blvd #y12, delray beach, fl 33444; josh abrams 17550 grand este way, boca raton, fl 33496”

“The form 990 was prepared by the organization's accounting representative and emailed to all members of the board of directors for their review prior to filing. Board members were given the opportunity to ask questions and request clarifications. The return was discussed in detail and formally approved at the organization's regular monthly board meeting. A record of this approval is reflected in the meeting minutes, and the signed copy of the form 990 is maintained with the organization's permanent records.”

“The organization requires all directors and officers to complete and sign a conflict of interest questionnaire on an annual basis. Responses are reviewed by the organization's board, and any potential or actual conflicts are referred to the organization's legal counsel for evaluation. When a potential conflict is identified, the affected board member is required to recuse themselves from related discussions and votes. The policy is reviewed annually to ensure ongoing compliance. Line 15a and 15b: the organization does not currently maintain a compensation review policy because no directors, officers, or key employees receive compensation from the organization. Should this change in the future, the board of directors will adopt a formal compensation policy to ensure that all compensation arrangements are reasonable and consistent with irs guidelines, including the use of comparability data and independent board review.”

“The foundation does not have a formal, written compensation policy because no individuals currently receive compensation. At this time, all services are provided on a voluntary basis, and there are no plans to compensate any directors, officers, or staff in the foreseeable future.”

“The organization's website states that the governing documents, conflict of interest policy, and financial statements are available to the public upon request. The website provides both a phone number and an email address for individuals to submit their request. Copies are furnished promptly in electronic form.”

“The delray beach concours d'elegance was a public event that showcased rare and historic automobiles, including both antique and state-of-the-art vehicles, providing educational insight into automotive design, engineering, and history. The event also served as a fundraising vehicle for local nonprofit organizations supporting first responders, children in need, and educational programs, with all activities carried out in furtherance of the organization's exempt purposes.”

“The organization does not prepare its financial statements in accordance with fasb asc 958 (fasb 117). All of the organization's net assets are unrestricted, and there are no donor-imposed restrictions on its funds. Accordingly, all revenues and expenses are reported without classification by donor restriction.”

“A $1 credit was needed to balance the balance sheet due to rounding”

“The accountant is a certified public accountant (cpa); however, she lacks independence because her spouse serves as a member of the foundation's board of directors. The cpa provides her services pro bono.”