2024-10-16T13:39:08-05:00 2023-12-31 873231666 PKF O'CONNOR DAVIES ADVISORY LLC 245 PARK AVENUE 12TH FLOOR NEW YORK NY 10167 990 2023-01-01 300241904 AFRICAN PARKS FOUNDATION OF AMERICA AFRI 6465681276 2020 PENNSYLVANIA AVENUE 254 WASHINGTON DC 20006 JOANNA DA VEIGA DIRECTOR, FINANCE & ADMIN. 6465681276 2024-10-16 1 0 X GARRETT M HIGGINS P00543209 2122862600 2024-10-03 2023 2024-10-15 13:58:12Z X JOANNA DA VEIGA 2020 PENNSYLVANIA AVENUE 254 WASHINGTON DC 20006 63435605 0 X WWW.AFRICAN-PARKS.ORG X 2004 DE THE AFRICAN PARKS FOUNDATION OF AMERICA SEEKS TO HELP CONSERVE AFRICA'S NATIONAL PARKS FOR CURRENT AND FUTURE GENERATIONS. IT DOES SO BY SUPPORTING EFFORTS TO IMPROVE THE LONG-TERM MANAGEMENT OF THESE GLOBALLY SIGNIFICANT AREAS, INCLUDING ENHANCING THE LIVES OF LOCAL PEOPLE. ITS SUPPORT PRIMARILY TAKES THE FORM OF FINANCIAL AND TECHNICAL ASSISTANCE SOLICITED FROM A VARIETY OF SOURCES IN THE U.S., INCLUDING GOVERNMENT AGENCIES, PRIVATE FOUNDATIONS, UNIVERSITIES, ZOOS, NON-GOVERNMENTAL ORGANIZATIONS AND OTHERS. MORE BROADLY, IT ALSO AIMS TO EDUCATE U.S. AUDIENCES ABOUT THE IMPORTANCE OF CONSERVING AFRICAN WILDLIFE AND THE HABITATS WITHIN WHICH THEY LIVE. 12 12 10 13 0 0 22690624 50350827 0 0 -313904 1278843 0 0 22376720 51629670 27820350 57249929 0 0 1031298 1171349 0 0 773470 489010 557986 29340658 58979264 -6963938 -7349594 87199935 76868387 30867 5203 87169068 76863184 X TO ENGAGE THE UNITED STATES AND ITS CITIZENS IN THE WORK OF AFRICAN PARKS AND TO PROMOTE ACCESS TO AMERICAN EXPERIENCE AND EXPERTISE IN THE AFRICAN PARKS ACTIITIES BY 1) RAISING FUNDS FOR SPECIFIC PROJECTS, ACTIVITIES, TRAINING, EQUIPMENT AND INFRASTRUCTURE; 2) SCOURING DONATIONS TOWARDS THE ENDOWMENT OF THE AFRICAN PARKS FOUNDATION TO ENABLE IT TO CONTINUE ITS WORK IN PERPETUITY; 3) FACILITATING GRANT AID FROM THE US GOVERNMENT FOR SPECIFIC PROJECTS BY AFRICAN PARKS, AND TO BE THE MANAGER OF SUCH FUNDS; 4) PROMOTING THE WORK OF AFRICAN PARKS IN THE U.S. AND TO BE A SOURCE OF INFORMATION ON ITS PROJECTS. 0 0 57249929 57249929 0 AFRICAN PARKS IS A NON-PROFIT CONSERVATION ORGANIZATION THAT TAKES ON DIRECT RESPONSIBILITY FOR THE REHABILITATION AND LONG-TERM MANAGEMENT OF PROTECTED AREAS IN PARTNERSHIP WITH GOVERNMENTS AND LOCAL COMMUNITIES. IN 2023, AFRICAN PARKS MANAGED 22 NATIONAL PARKS AND PROTECTED AREAS IN 12 COUNTRIES COVERING OVER 20 MILLION HECTARES IN: ANGOLA, BENIN, CENTRAL AFRICAN REPUBLIC, CHAD, THE DEMOCRATIC REPUBLIC OF CONGO, MALAWI, MOZAMBIQUE, THE REPUBLIC OF CONGO, SOUTH SUDAN, RWANDA, ZAMBIA, AND ZIMBABWE.IONA NATIONAL PARK, ANGOLA:LOCATED WITHIN THE REMOTE IONA-SKELETON COAST TRANSFRONTIER CONSERVATION AREA IN ANGOLA, IONA NATIONAL PARK IS HOME TO MANY UNIQUE SPECIES OF FLORA AND FAUNA. SINCE 2019, EFFORTS TO CONSERVE AND RESTORE THIS ICONIC LANDSCAPE HAVE BEEN UNDERWAY. IN 2023, A FOUNDER POPULATION OF ANGOLAN GIRAFFES WAS REINTRODUCED TO THEIR HISTORICAL RANGE AS PART OF THE RESTORATION PLAN, IN PARTNERSHIP WITH THE GIRAFFE CONSERVATION FOUNDATION. BIODIVERSITY CONSERVATION EFFORTS HAVE BEEN STRENGTHENED WITH THE FIRST AERIAL SURVEY SINCE 2019, PROVIDING CRITICAL DATA ON WILDLIFE POPULATIONS. THE DEPLOYMENT OF GPS COLLARS ON SPRINGBOK, ZEBRA, AND ORYX, ALONG WITH THE INSTALLATION OF CAMERA TRAPS, HAS OFFERED VALUABLE INSIGHTS INTO WILDLIFE MOVEMENT AND BEHAVIOR. COLLABORATIVE RESEARCH PROJECTS, INCLUDING A WATERBIRD SURVEY AND PARTICIPATION IN THE MENA EDNA PROJECT, HAVE FURTHER ENHANCED UNDERSTANDING OF THE PARK'S ECOSYSTEM. FURTHERMORE, COMMUNITY DEVELOPMENT HAS BEEN A KEY FOCUS, WITH EXTENSIVE CONSULTATIONS TO ESTABLISH A LAND USE PLAN AND UNDERSTAND LOCAL NEEDS. ENGAGEMENTS WITH VARIOUS STAKEHOLDERS, ALONG WITH STUDIES ON LIVESTOCK MIGRATION AND A COMMUNITY CENSUS, HAVE INFORMED CONSERVATION STRATEGIES. EDUCATIONAL INITIATIVES HAVE INCLUDED SCHOLARSHIPS, PRIMARY SCHOOL SUPPORT, AND ENVIRONMENTAL TRAINING FOR TEACHERS. ADDITIONALLY, EFFORTS TO BOOST PARK REVENUE AND INFRASTRUCTURE, SUCH AS THE ADDITION OF GATE OFFICERS AND ROAD IMPROVEMENTS, HAVE SIGNIFICANTLY ENHANCED THE PARK'S MANAGEMENT AND SUSTAINABILITY, CONTRIBUTING TO ITS LONG-TERM RESTORATION AND SUCCESS. FUTURE PLANS INCLUDE COMPLETING AND MOVING INTO PEDIVA HQ, REINFORCING THE GIRAFFE POPULATION AND PREPARING FOR RHINO REINTRODUCTION, STARTING THE IMPLEMENTATION OF THE TOURISM DEVELOPMENT PLAN, AND STRENGTHENING RELATIONSHIPS WITH NAMIBIAN OFFICIALS FOR CROSS-BORDER CONSERVATION EFFORTS.PENDJARI NATIONAL PARK, BENIN:PENDJARI NATIONAL PARK, PART OF THE W-ARLY-PENDJARI (WAP) COMPLEX IN WEST AFRICA, IS A CRITICAL STRONGHOLD FOR BIODIVERSITY AND SUPPORTS THOUSANDS OF PEOPLE. OVER THE PAST DECADE, MILITANT ACTIVITY IN THE SAHEL HAS SPREAD INTO BENIN AND THE WAP COMPLEX, BUT DESPITE HEIGHTENED RISKS AND INCREASING MANAGEMENT COSTS, AFRICAN PARKS DECIDED TO CONTINUE THEIR LONG-TERM OPERATIONS AFTER EXTENSIVE DISCUSSIONS WITH THE GOVERNMENT, FUNDERS, AND LOCAL TEAMS, RECOGNIZING THE ECOLOGICAL IMPORTANCE OF THE PARK AND ITS ROLE IN LOCAL GOVERNANCE AND REGIONAL STABILITY. CONSERVATION EFFORTS HAVE INCLUDED AERIAL SURVEYS TO MONITOR HUMAN-ELEPHANT AND LIVESTOCK INTERACTIONS, REVEALING SIGNIFICANT AGRICULTURAL ENCROACHMENT AND POACHING INCIDENTS. HUMAN-WILDLIFE CONFLICT MANAGEMENT PROGRAMS WERE COORDINATED WITH W NATIONAL PARK, IMPROVING COMMUNITY SUPPORT. PARK RANGERS RECEIVED SPECIALIZED TRAINING TO OPERATE SAFELY IN HIGH-SECURITY AREAS, ENHANCING THEIR CAPABILITY TO PROTECT THE PARK'S WILDLIFE. COMMUNITY DEVELOPMENT INITIATIVES WERE ALSO PRIORITIZED, WITH AWARENESS-RAISING SESSIONS, ESTABLISHMENT OF WILDLIFE CLUBS, AND HEALTH AND AGRICULTURAL PROJECTS AIMED AT SUPPORTING LOCAL COMMUNITIES AND PROMOTING SUSTAINABLE PRACTICES. ALTHOUGH THERE IS A SUSPENSION OF TOURISM AND HUNTING ACTIVITIES DUE TO SECURITY CONCERNS, PENDJARI NATIONAL PARK HAS MAINTAINED ITS INFRASTRUCTURE TO RESUME OPERATIONS WHEN CONDITIONS IMPROVE. THE REDD+ CARBON AUDIT WAS COMPLETED, AND MECHANISMS FOR MANAGING COMMUNITY SHARES OF CARBON REVENUE ARE BEING DEVELOPED. PARK MANAGEMENT AND INFRASTRUCTURE IMPROVEMENTS INCLUDED UPGRADING FACILITIES, EXTENDING COMMUNICATION NETWORKS, MAINTAINING ELECTRIC FENCES, AND ENHANCING ROAD AND WATER INFRASTRUCTURE. THESE EFFORTS ARE CRUCIAL FOR ENSURING THE PARK'S OPERATIONAL READINESS AND SUPPORTING ITS CONSERVATION GOALS AMIDST ONGOING CHALLENGES.AKAGERA NATIONAL PARK, RWANDA:SINCE AFRICAN PARKS BEGAN MANAGING AKAGERA NATIONAL PARK IN 2010, THE PARK HAS MOVED CLOSER TO COMPLETE FINANCIAL SUSTAINABILITY, ACHIEVING 92% SELF-SUFFICIENCY IN 2023. THE PARK CONTRIBUTED OVER $316,000 TO RWANDA'S TOURISM REVENUE SHARING SCHEME, BENEFITING LOCAL COMMUNITIES THROUGH FUNDING INFRASTRUCTURE AND MICRO-BUSINESSES. WITH A RECORD 54,000 VISITORS, INCLUDING A SIGNIFICANT NUMBER OF RWANDAN CITIZENS, AKAGERA CONTINUES TO PLAY A CRUCIAL ROLE IN LOCAL DEVELOPMENT, SUPPORTING COMMUNITY PROJECTS VALUED AT $650,000. A WORLD BANK WORKSHOP HELD IN AKAGERA SHOWCASED THE PARK'S EFFECTIVE CO-MANAGEMENT MODEL, REINFORCING ITS GOAL OF ACHIEVING FULL SELF-SUSTAINABILITY BY 2025. CONSERVATION EFFORTS AT AKAGERA HAVE SEEN CONTINUED GROWTH IN BLACK AND WHITE RHINO AND LION POPULATIONS. A COLLABORATION WITH THE GIRAFFE CONSERVATION FOUNDATION ESTIMATED 110 GIRAFFES, UP FROM 54 IN 2013. THE PARK WORKED WITH GLOBAL UNIVERSITIES AND CONSERVATION ORGANIZATIONS TO ENHANCE UNDERSTANDING OF ITS ECOSYSTEMS, INVOLVING RWANDAN AND AFRICAN STUDENTS IN CAPACITY-BUILDING ACTIVITIES. THIRTY NEW RANGERS, INCLUDING THE PARK'S FIRST FEMALE RANGERS, WERE RECRUITED AND TRAINED, MAINTAINING LOW POACHING RATES THROUGH EFFECTIVE LAW ENFORCEMENT AND THE K9 UNIT. COMMUNITY ENGAGEMENT REMAINED STRONG IN 2023 AS WELL, WITH OVER HALF OF 172 COMMUNITY MEETINGS ORGANIZED BY THE COMMUNITIES THEMSELVES, REACHING NEARLY 8,000 PEOPLE. EDUCATIONAL PROGRAMS EXPANDED, PROVIDING FREE PARK ENTRY TO THOUSANDS OF STUDENTS AND TEACHERS. ADDITIONALLY, AKAGERA ADVANCED COMMERCIAL PROJECTS LIKE FISHERIES AND BEEKEEPING, TRAINING LOCALS IN SUSTAINABLE PRACTICES. THE PARK'S TOTAL REVENUE EXCEEDED $4.8 MILLION, WITH INCREASED VISITOR NUMBERS AND IMPROVED GUEST EXPERIENCES. INFRASTRUCTURE DEVELOPMENTS INCLUDED NEW CONSERVATION OFFICES, LODGE UPGRADES, AND ECO-FRIENDLY POWER SOLUTIONS, FURTHER REDUCING OPERATIONAL COSTS AND ENHANCING SUSTAINABILITY. MOVING FORWARD, THE 2024 OBJECTIVES INCLUDE ENSURING THE SUSTAINABLE PROFITABILITY OF GISHANDA FISH FARM, ACHIEVING OVERALL SELF-SUSTAINABILITY, AND MANAGING THE LION POPULATION THROUGH GENOME SEQUENCING. 57249929 1 1 0 0 0 0 0 0 0 1 0 0 0 0 0 1 1 0 0 0 1 1 0 0 0 0 0 1 0 1 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 1 7 0 10 1 0 0 0 0 0 0 0 0 0 0 0 0 X 12 12 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 NY X X JOANNA DA VEIGA 6465681276 2020 PENNSYLVANIA AVENUE 254 WASHINGTON DC 20006 RONALD J ULRICH CHAIRMAN (THRU JAN 2023) 5.00 X X 0 0 0 ROB WALTON CHAIRMAN (AS OF JAN 2023) 5.00 X X 0 0 0 EDITH MCBEAN CO-VICE CHAIR 1.00 X X 0 0 0 MICHAEL BEAUMONT CO-VICE CHAIR 1.00 X X 0 0 0 ANNA MCWANE SECRETARY 1.00 X X 0 0 0 THOMAS GALLAGHER TREASURER 1.00 X X 0 0 0 JONATHAN CUMMINGS BOARD MEMBER 1.00 X 0 0 0 DAVID GIBBONS BOARD MEMBER 1.00 X 0 0 0 EMMA PILKINGTON GOERGEN BOARD MEMBER 1.00 X 0 0 0 PENNI LUDWIG BOARD MEMBER 1.00 X 0 0 0 JONATHAN MILLS BOARD MEMBER 1.00 X 0 0 0 MARVIN SCHWARTZ BOARD MEMBER 1.00 X 0 0 0 SANJAY SEN BOARD MEMBER 1.00 X 0 0 0 TONI L CONDON SPECIAL ADVISOR TO THE BOARD 40.00 X 281000 0 26003 JOANNA DA VEIGA DIRECTOR, FINANCE & ADMINISTRATION 40.00 X 180000 0 26003 LIAM DALL EXECUTIVE DIR- ECTOR (AS OF OCT 2023) 40.00 X 72708 0 4063 SARAH WILSON INTERIM EDJAN THRU OCT 2023),SR. DIR. PHILANTHROPY 40.00 X 216000 0 16253 EDWARD BARNES CHIEF OPERATING OFFICER (THRU FEB 2023) 40.00 X 17250 0 3750 MORGAN PECORA-SAIPE PROGRAM DIRECTOR 40.00 X 137483 0 26003 904441 0 102075 4 0 1 0 NORTHERN TRUST 50 SOUTH LA SALLE STREET CHICAGO IL 60603 INVESTMENT ADVISORY 166062 PBR EXECUTIVE SEARCH 24 RABBIT HILL ROAD NEW PRESTON CT 06777 EXECUTIVE SEARCH 121307 2 394602 49956225 2285655 50350827 2023628 2023628 11061150 11805935 -744785 -744785 -744785 51629670 0 0 1278843 290000 290000 56959929 56959929 843030 337212 505818 234119 149346 84773 10725 6180 4545 15149 9841 5308 68326 26487 41839 9462 9462 66649 66649 166062 166062 24829 24829 10134 5777 4357 42690 21345 21345 54141 51727 2414 14694 14694 10723 10723 RECRUITING EXPENSES 121307 60653 60654 DUES & SUBSCRIPTIONS 25431 5431 20000 FDRSNG SUPPLIES & MEALS 7723 7723 OTHER EXPENSES 4141 4141 58979264 57249929 955865 773470 1715143 910179 705529 4859797 27482465 7725729 14800 4800 57235220 63310048 46778 57834 87199935 76868387 23337 5203 7530 0 30867 5203 X 2722542 5602570 84446526 71260614 87169068 76863184 87199935 76868387 X -7349594 6723710 -9680000 X X 0 1 X 1 0 X 8921521 18750649 16529571 22690624 50350827 117243192 8921521 18750649 16529571 22690624 50350827 117243192 71461002 45782190 17944 120109 1015417 1333564 2023628 4510662 2382 2382 121756236 0.37600 0.38980 X SCHEDULE A, PART II, LINE 10, EXPLANATION OF OTHER INCOME: MISCELLANEOUS - 2019 AMOUNT: $ 2,382. SCHEDULE A, PART VI, LIST OF UNUSUAL GRANTS: DESCRIPTION: GENERAL SUPPORT DATE: 08/14/20 AMOUNT: 90320000. RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 57235186 5000000 7890840 2865000 166062 67094964 51635575 15000000 -9253789 146600 57235186 45865369 5922283 152077 51635575 45320000 558058 12689 45865369 0.00000 0.97355 0.02645 0 0 0 X 58187318 6723710 6723710 51463608 166062 166062 51629670 68493202 9680000 9680000 58813202 166062 166062 58979264 PART V, LINE 4: ENDOWMENT EARNINGS ARE USED TO SUPPORT OPERATIONS AND LONG-TERM FINANCIAL SUSTAINABILITY. PART X, LINE 2: THE FOUNDATION RECOGNIZES THE EFFECT OF INCOME TAX POSITIONS ONLY IF THOSE POSITIONS ARE MORE LIKELY THAN NOT TO BE SUSTAINED. MANAGEMENT HAS DETERMINED THAT THE FOUNDATION HAD NO UNCERTAIN TAX POSITIONS THAT WOULD REQUIRE FINANCIAL STATEMENT RECOGNITION OR DISCLOSURE. THE FOUNDATION IS NO LONGER SUBJECT TO EXAMINATIONS BY THE APPLICABLE TAXING JURISDICTIONS FOR PERIODS PRIOR TO DECEMBER 31, 2020. PART XII, LINE 2D - OTHER ADJUSTMENTS: CHANGE IN EXPECTED PLEDGE FUNDING 9,680,000. 1 SUB-SAHARAN AFRICA 0 0 GRANTMAKING 56959929 0 0 0 0 0 0 56959929 0 56959929 SUB-SAHARAN AFRICA DEVELOPMENT AND PARK MANAGEMENT 56959929 WIRE TRANSFER 0 1 0 0 0 0 0 0 0 PART I, LINE 2: FOR ALL GRANTS PROVIDED TO AFRICAN PARKS NETWORK, A SIGNED AGREEMENT IS PROVIDED TO AFRICAN PARKS NETWORK ATTESTING THAT THE USE OF ALL GRANTOR FUNDS IS CONSISTENT WITH THE PURPOSES OF THE GRANTOR AS OUTLINED IN THE GRANT AGREEMENT. IN ADDITION TO THE GRANT AGREEMENT, AFRICAN PARKS NETWORK FURNISHES FINANCIAL AND EXPENDITURE REPORTS TO GRANTORS PER THE AGREEMENT OR UPON REQUEST. THE FOUNDATION MAY MONITOR THE PROGRESS OF CERTAIN PROJECTS (INCLUDING MAKING SITE VISITS), INQUIRE ABOUT THE PROJECT, ITS IMPLEMENTATION, AND FINANCES WITH THE REPRESENTATIVES OF THE GRANTOR, AND REVIEW RECORDS AND OTHER MATERIAL INCLUDING FINANCIAL RECORDS, CONNECTED WITH THE GRANT. THESE DOCUMENTS, AS WELL AS THE ACCOUNTING BOOKS AND RECORDS, ARE MAINTAINED WITHIN THE FOUNDATION'S PERMANENT FILES. PART I, LINE 3: EXPENDITURES ARE RECOGNIZED UNDER THE ACCRUAL BASIS OF ACCOUNTING. 1 RAINFOREST TRUST PO BOX 841 WARRENTON VA 20188 133500609 501(C)(3) 290000 0 PROJECTS IN AFRICA: RAINFOREST TRUST MATCH 1 0 PART I, LINE 2: FOR ALL GRANTS, A SIGNED AGREEMENT IS PROVIDED ATTESTING THAT THE USE OF ALL GRANTOR FUNDS IS CONSISTENT WITH THE PURPOSES OF THE GRANTOR FUNDS AS OUTLINED IN THE GRANT AGREEMENT. THE ORGANIZATION RECEIVES REPORTS FROM THE GRANTEE ORGANIZATION WHICH DETAIL THE USE OF THE FUNDS, WHICH ALLOWS THE ORGANIZATION TO ENSURE THE FUNDS WERE USED FOR THE INTENDED PURPOSES. THIS DOCUMENT, AS WELL AS THE ACCOUNTING BOOKS AND RECORDS ARE MAINTAINED WITHIN THE FOUNDATION'S PERMANENT FILES. X X X X 0 0 0 0 0 0 0 1 0 TONI L CONDON SPECIAL ADVISOR TO THE BOARD 260000 0 21000 0 0 0 9750 0 16253 0 307003 0 0 0 SARAH WILSON INTERIM EDJAN THRU OCT 2023),SR. DIR. PHILANTHROPY 209000 0 7000 0 0 0 0 0 16253 0 232253 0 0 0 JOANNA DA VEIGA DIRECTOR, FINANCE & ADMINISTRATION 160000 0 20000 0 0 0 9750 0 16253 0 206003 0 0 0 MORGAN PECORA-SAIPE PROGRAM DIRECTOR 122483 0 15000 0 0 0 9750 0 16253 0 163486 0 0 0 PART I, LINE 7 THE ORGANIZATION PAID BOARD APPROVED PERFORMANCE-BASED BONUSES IN 2023. X 14 2285655 AVG SELLING PRICE 0 0 1 0 PART I, COLUMN (B): THE ORGANIZATION IS REPORTING THE NUMBER OF CONTRIBUTORS IN COLUMN (B). FORM 990, PART VI, SECTION B, LINE 11B THE BOARD CHAIR, BOARD TREASURER, EXECUTIVE DIRECTOR AND DIRECTOR OF FINANCE AND ADMINISTRATION REVIEW A COPY OF THE FORM 990 AS PROVIDED BY THE OUTSIDE ACCOUNTANTS. ONCE THIS REVIEW IS COMPLETED, A COPY IS SENT TO THE FULL BOARD OF DIRECTORS ELECTRONICALLY FOR A TWO-WEEK REVIEW PERIOD. IF THERE ARE NO COMMENTS OR QUESTIONS AFTER TWO WEEKS, THE FORM 990 IS THEN FILED WITH THE IRS. FORM 990, PART VI, SECTION B, LINE 12C THE CONFLICT OF INTEREST POLICY APPLIES TO ALL BOARD MEMBERS, KEY EMPLOYEES, OFFICERS AND RELATED PARTIES (FAMILY MEMBERS OF TRUSTEES, OFFICERS AND KEY EMPLOYEES). THE POLICY IS MONITORED BY THE BOARD TREASURER AND CHAIR OF THE AUDIT COMMITTEE. NEW BOARD MEMBERS ARE REQUIRED TO SIGN AN INITIAL DISCLOSURE FORM, CONFLICT OF INTEREST POLICY ACKNOWLEDGEMENT AND EXISTING BOARD MEMBERS MUST SIGN AN ANNUAL UPDATE CONFLICT OF INTEREST DISCLOSURE FORM. THE FOLLOWING IS THE PROCEDURE IF A CONFLICT WERE TO ARISE: AFTER THE INTERESTED PERSON HAS DISCLOSED HIS OR HER INTEREST AND ALL OTHER MATERIAL FACTS, AND AFTER ANY DISCUSSION WITH THE INTERESTED PERSON (INCLUDING ALLOWING THE TRUSTEES TO ASK QUESTIONS OF THE INTERESTED PERSON), THE INTERESTED PERSON, IF IN ATTENDANCE, SHALL LEAVE THE MEETING OF THE GOVERNING BOARD OR BOARD COMMITTEE WHILE THE DETERMINATION OF WHETHER A CONFLICT OF INTEREST EXISTS IS DISCUSSED AND VOTED UPON. THE REMAINING BOARD OR COMMITTEE MEMBERS SHALL DECIDE IF THERE IS A CONFLICT OF INTEREST, THE INTERESTED PERSON SHALL NOT RETURN TO THE MEETING DURING THE DISCUSSION OF, AND VOTE ON, THE TRANSACTION OR ARRANGEMENT INVOLVING THE CONFLICT OF INTEREST. IN NO EVENT SHALL AN INTERESTED PARTY IMPROPERLY INFLUENCE THE DELIBERATION OR VOTING ON THE MATTER GIVING RISE TO THE CONFLICT. FORM 990, PART VI, SECTION B, LINE 15 THE FOUNDATION DEVELOPED A POLICY AND ANNUAL PROCESS TO ESTABLISH COMPENSATION FOR THE EXECUTIVE DIRECTOR AND OTHER OFFICERS. THE PROCESS INCLUDES THE USE OF SALARY SURVEYS, COMPENSATION DATA OF OTHER SIMILAR NOT-FOR-PROFIT ORGANIZATIONS, AND OTHER INDUSTRY-SPECIFIC BENCHMARKS. THE MERIT INCREASE PROCESS IS CONDUCTED USING A THOROUGH MARKET ANALYSIS COMPARING COMPENSATION LEVELS WITH SIMILAR POSITIONS IN COMPARABLE ORGANIZATIONS. THE COMPENSATION PROCESS IS INFORMED BY STAFF PERFORMANCE AGAINST SET OBJECTIVES AND BEHAVIORS. THE BOARD OF DIRECTORS REVIEWS THE COMPENSATION COMMITTEE'S RECOMMENDATIONS AND APPROVES THE FINAL COMPENSATION PACKAGE. COMPENSATION DELIBERATIONS AND DECISIONS ARE DOCUMENTED IN THE BOARD MINUTES AND KEPT ON FILE BY THE ORGANIZATION. THIS PROCESS WAS LAST CONDUCTED IN 2023. FORM 990, PART VI, SECTION C, LINE 19 THE FORM 990 IS AVAILABLE FOR PUBLIC INSPECTION AS REQUIRED UNDER SECTION 6104 OF THE INTERNAL REVENUE SERVICE CODE. IN ADDITION, FORMS 990 AND 1023, AS WELL AS THE FINANCIAL STATEMENTS, ARTICLES OF INCORPORATION AND BYLAWS ARE AVAILABLE UPON REQUEST. FORM 990, PART XI, LINE 9: CHANGE IN EXPECTED PLEDGE FUNDING -9,680,000. FORM 990, PART XII, LINE 2C: THE PROCESS FOLLOWED BY THE FOUNDATION FOR SELECTING AN INDEPENDENT ACCOUNTANT AND FOR OVERSIGHT OF THE AUDIT HAS NOT CHANGED FROM THE PRIOR YEAR.