California Scottish Rite Foundation

“Each member of the audit committee and officers, directors, and trustees of the foundation receive a copy of form 990 for review prior to filing.”

“The conflict of interest policy is reaffirmed, in writing, annually, at the trustees meeting. The organization has an open door policy and respects input from any and all persons with concerns. In addition, with the centralization of cash disbursements, the foundation office is able to detect any situation that might have the appearance of a conflict of interest.”

“The directors retained an independent counsel to perform a comparability study of representatives of non-profit organizations similar to the foundation. The directors make an independent evaluation, including independent counsel input, to evaluate compensation. The directors then meet outside of the presence of the affected officers to establish the compensation. The evp and secretary performed comparability studies based on a salary study service.”

“The foundation makes its governing documents, policies and financial statements available for inspection at the main office and they are posted on the foundation's website. The form 990 is also available on guidestar.org.”

“The california scottish rite foundation had an agreement with the scottish rite cathedral of stockton to operate a childhood language center at a stockton facility indefinitely. The foundation made building improvements to the property that they rented with capitalization dates beginning on 02/01/1992 with a total depreciable cost of $876,829. The foundation also incurred costs related to the subdivision of the land on the property totaling $47,616, which was not depreciated in accordance with gaap. The land was sold by scottish rite cathedral of stockton on november 10, 2017. At the time, the cost basis of the building improvements and land was $924,445 ($876,829 + $47,616) and the accumulated depreciation was $563,547, for a net book value of $360,898. The foundation wrote off the net book value at the time the property was sold as losses on the disposal of assets.”

“Independent contractors: program service expenses 1,799,918. Management and general expenses 0. Fundraising expenses 0. Total expenses 1,799,918. Professional fees: program service expenses 31,775. Management and general expenses 46,398. Fundraising expenses 89,565. Total expenses 167,738. Outside services: program service expenses 126,771. Management and general expenses 550. Fundraising expenses 0. Total expenses 127,321.”

“Change in value of beneficial interest 64,400.”