Devco Foundation

“Carolyn hawes hunden is the daughter of evan jack hunden. Thomas hawes hunden is the son of evan jack hunden.”

“The form 990 is reviewed by the president prior to filing.”

“Directors and officers shall disclose to the board any financial interest which the director or officer or their immediate family (spouse, parent, parent-in-law, brother, brother-in-law, sister, sister-in-law, child, son-in-law or daughter-in-law, or other persons living in the same residential dwelling unit of the director) directly or indirectly has in any person or entity that is a party to a transaction under consideration by the board. The interested director or officer shall abstain from voting on the transaction. Furthermore, directors and officers shall follow the procedures and rules set forth in the corporation's conflict of interest policy adopted by the board, as amended from time to time by the board. Each director and officer shall annually sign a statement which affirms compliance with the corporation's conflict of interest policy. Prior to entering into any compensation agreement, contract for goods or services, or any other transaction with any person who is in a position to exercise influence over the affairs of the corporation, the board shall establish that the proposed transaction is reasonable, taking into account appropriate data as to comparability prior to making its determination, and the board shall establish compliance, to the extent applicable, with the corporation's conflict of interest policy.”

“The organization makes its governing documents, conflict of interest policy, and financial statements available to the public upon request.”

“Devco foundation is amending its 2024 tax return for the following reasons: - form 990, part iii, line 4a - to report the total program expenses of $101,731. - form 990, part viii, line 1f - to include the $11,527,313 non-cash contribution that was inadvertently not included in the originally filed return. - form 990, part ix - to provide a reasonable breakout between program service expenses and management and general expenses. - form 990, part x, line 25 - to report the negative basis investment in kitts corner manager, llc. - schedule a, part iii, section a, line 1 - to include the $11,527,313 non-cash contribution omitted from the originally filed return. - schedule b, part i and part ii - to include the $11,527,313 non-cash contribution omitted from the originally filed return. - schedule l, part ii, column b - to revise the explanation of the relationship with the organization, which will also be reflected on schedule l, part v. - schedule l, part ii, line 2 - to include the $1,250,000 promissory note from evan j hunden, an interested person, to the organization that was omitted from the originally filed return. - schedule l, part iv, column b - to revise the explanation of the relationship between interested person and the organization, which will also be reflected on schedule l, part v. - schedule m, part i - to report the non-cash contribution.”