Metropolitan Andrey Sheptytsky Institute Foundation

“Mr. Richard iwuc serves as the organization's investment manager. His appointment was ratified by the board of directors at the organization's general meeting held on december 13, 2011. In this capacity mr. Iwuc is appointed to act as the organization's agent in certain investment activities conducted between the organization and its investment broker. The organization will continue to supervise and ratify all investment activities.”

“Form 990 is prepared by the foundation's us accounting firm, reviewed by an officer / director for completeness. The forms are then provided to all directors and subsequently approved by the board of directors prior to filing.”

“Issues deemed in potential conflict are referred to and addressed by a committee of the board for further clarification and resolution. If a possible conflict is identified and referred to the board, procedures outlined in the organization's conflict of interest policy are used to determine whether an actual conflict exists. Such procedures include a review of all of the facts and circumstances. The availability of alternate service providers, and the economic impact on the organization and the organization's mission. Final resolution of a conflict is documented in the minutes of the board meetings.”

“The foundation's form 990 and supporting schedules and are available upon request and they are publicly available on www.guidestar.com.”

“Governing documents (letters patent and by-laws) are available on request from industry canada or by request directly from the foundation. The canadian charitable tax return is available on the canada revenue agency charities directorate website. Financial statements are also available upon request from the foundation. The foundation has a conflict of interest policy approved by the board of directors on october 14, 2006.”

“The foundation had part-time volunteers during the year. These volunteers participated in policy and constitution committees, prepared government forms for filing and review and approval by board of directors, as well as carrying out general operations activities such as gathering materials for bookkeeping and audit processes, processing expenses for approval and preparing correspondence for signature.”

“Foreign exchange gain on the financial statements translation from ca to us 134,398.”

“Schedule b reflects us and canadian donors that have donated $5,000(us) or more.”

“General information - foreign currency translation: throughout the form 990, return of organization exempt from income tax and applicable schedules, the foundation's financial information has been converted to us dollars from canadian dollars. The foundation's financial records are maintained in canadian dollars. Revenue and expenses are generally converted using an average exchange rate of 0.75505 (2015 - 0.78310) but where determinable, the actual exchange rate at the date of the transaction is used. Assets and liabilities are converted using a december 31 exchange rate of 0.74294 (2015 - 0.72150.) changes in net assets are converted using average, actual and december 31 exchange rates as applicable. The above process therefore results in exchange gains and losses that are reported in the applicable locations in this tax filing.”