The Lilly and Blair Foundation

“Two sets of board members are spouses. Their relationships have been disclosed and do not impact the boards ability to act independently.”

“At present, the foundation does not consistently document committee meetings and actions on a contemporaneous basis. While minutes are eventually prepared and maintained, there may be delays in their completion and approval. The foundation is currently reviewing its governance practices and implementing procedures to ensure that all future committee meetings and actions are properly documented in a timely manner, in accordance with best practices and IRS requirements.”

“A complete copy of the Form 990, including all schedules, was provided to and approved by all board members before filing.”

“Compliance with the conflict of interest policy was regularly and consistently monitored and enforced by implementing a: Duty to Disclose Any person covered by the policy must disclose the existence of any actual or potential conflict of interests and all material facts to the Board. Determining Whether a Conflict Exists After disclosure, the remaining”

“The organizations governing documents, conflict of interest policy, and financial statements are made available to the public upon request. Copies may be obtained by contacting the organizations main office via mail, email, or phone.”

“A $5,000 in-kind venue credit was recorded as a noncash contribution with an offsetting special event expense, resulting in no net impact on net assets. A 50/50 raffle at the golf event generated $1,600; the$800 winner donated their share back to the Foundation. Sponsorship amounts were allocated between contribution and event revenue in accordance with IRS instructions.”

“Special event costs are reflected both in Part IX and on Schedule G, Part II. Bank and payment processing fees are included in management and general. Volunteer services are not recorded under GAAP.”

“The organization operates on a cash basis. NOncash in-kind contributions are recorded but do not affect cash balances.”

“The Foundation awarded competitive research grants to U.S. academic institutions (Boston Childrens Hospital, Drexel University, UMass Chan Medical Center, and University of Wisconsin Madison) to advance SPG4 disease modeling, gene therapy, and other therapeutic avenues. It also hosted community events (including a golf tournament and a 5K run) to increase awareness and support fundraising, and provided connection and information resources for affected families. All work was carried out by volunteers without compensation.”

“Schedule B: Donor Listing A complete Schedule B donor list has been prepared. The only noncash contribution was the $5,000 venue credit described above. Schedule G: Fundraising Events Primary fundraising events were a golf tournament and a 5K. The 5K incurred no direct costs to the Foundation. Golf event revenue included sponsorships and particpant receipts, as well as the raffle proceeds.”