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LEGACY ENDOWMENT...THE COMMUNITY FOUNDATION IS COMMITTED TO IMPROVING THE QUALITY OF LIFE IN THE FALLBROOK AND GREATER SAN DIEGO AREA BY SUPPORTING LOCAL CHARITIES IN THE FOLLOWING AREAS: ARTS/CULTURE, EDUCATION/TRAINING, HEALTH & HUMAN SERVICES, MEDICAL RESEARCH, SENIOR CAUSES AND PROGRAMS FOR THE DISABLED. THE FOUNDATION HAS AN UNDERSTANDING OF THE NEEDS OF THE COMMUNITY AND CAN CONNECT THE DONOR WITH THOSE NON-PROFIT ORGANIZATIONS THAT CAN MEET THOSE NEEDS. 66764 66764 THE FOUNDATION GRANTS SCHOLARSHIPS FOR STUDENTS ATTENDING INSTITUTIONS OF HIGHER EDUCATION AND VOCATION/TECHNICAL EDUCATION INSTITUTIONS. 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LEGACY ENDOWMENT UTILIZES VOLUNTEERS FROM THE COMMUNITY FOR VARIOUS ACTIVITIES. THESE VOLUNTEER COMMITTEE MEMBERS ARE OVERSEEN BY STAFF AND BOARD VOLUNTEERS. FORM 990, PAGE 2, PART III, LINE 4D ADMINISTRATION COSTS ALLOCATED TO PROGRAM SERVICE EXPENSES. FORM 990, PAGE 6, PART VI, LINE 11B A SELECT MEMBER OF THE BOARD IS ASSIGNED TO REVIEW FORM 990 FOR ACCURANCY AND COMPREHENSIVENESS. THE FORM 990 IS THEN PRESENTED TO THE BOARD OF DIRECTORS FOR THEIR APPROVAL BEFORE IT IS SIGNED BY AN OFFICER OF THE ORGANIZATION AND FILED. FORM 990, PAGE 6, PART VI, LINE 12C THE DIRECTORS OF LEGACY ENDOWMENT OWE A DUTY OF LOYALTY TO THE ORGANIZATION WHICH REQUIRES THAT IN SERVING LEGACY ENDOWMENT THEY ACT, NOT IN THEIR PERSONAL INTERESTS OR IN THE INTERESTS OF OTHERS, BUT RATHER SOLELY IN THE INTEREST OF LEGACY ENDOWMENT. DIRECTORS MUST HAVE UNDIVIDED ALLEGIANCE TO LEGACY ENDOWMENT'S MISSION AND MAY NOT USE THEIR POSITIONS AS DIRECTORS, INFORMATION THEY HAVE ABOUT LEGACY ENDOWMENT, OR LEGACY ENDOWMENT'S PROPERTY, IN A MANNER THAT ALLOWS THEN TO SECURE A PECUNIARY BENEFIT FOR THEMSELVES, OTHER ORGANIZATIONS OR THEIR RELATIVES. THE CONDUCT OF PERSONAL BUSINESS BETWEEN ANY DIRECTOR AND LEGACY ENDOWMENT IS PROHIBITED. BUSINESS TRANSACTIONS OF LEGACY ENDOWMENT IN WHICH A DIRECTOR HAS AN INTEREST SHALL NOT BE PROHIBITED, BUT THEY SHALL BE SUBJECT TO CLOSE SCRUTINY. SUCH PROPOSED TRANSACTIONS SHALL BE REVIEWED CAREFULLY TO DETERMINE THAT THEY ARE IN THE BEST INTEREST OF LEGACY ENDOWMENT AND THEY WILL NOT LEAD TO CONFLICT OF INTEREST. FOR THE PURPOSE OF THIS POLICY, A DIRECTOR HAS AN INTEREST IN A PROPOSED TRANSACTION IF HE/SHE HAS A SUBSTANTIAL FINANCIAL INTEREST IN IT, OR HAS A SUBSTANTIAL FINANCIAL INTEREST IN ANY ORGANIZATION INVOLVED IN THE PROPOSED TRANSACTION, OR HOLDS A POSITION AS TRUSTEE, DIRECTOR, GENERAL MANAGER, OR PRINCIPAL OFFICER IN ANY SUCH ORGANIZATION. PRIOR TO THE START OF ANY NEGOTIATIONS, OR CONSIDERATION OF A GRANT REQUEST BY THE ORGANIZATION, DIRECTORS WILL MAKE FULL DISCLOSURE TO THE BEST OF THEIR KNOWLEDGE OF ANY DUAL INTEREST IN A PROPOSED TRANSACTION BY SUBMITTING A REPORT TO THE PRESIDENT OR OTHER OFFICER DESIGNATED BY THE BOARD TO HANDLE SUCH MATTERS, SUPPLY ANY REASONS WHY THE TRANSACTION MIGHT NOT BE IN THE BEST INTEREST OF LEGACY ENDOWMENT. IN MATTERS REQUIRING PRIOR APPROVAL OF THE BOARD OF DIRECTORS, THE PRESIDENT OR OTHER OFFICER SHALL FORWARD COPIES OF THIS DISCLOSURE REPORT TO THE BOARD BEFORE ITS APPROVAL. A DIRECTOR WITH A DUAL INTEREST IN A PROPOSED TRANSACTION SHALL NOT VOTE ON THE MATTER AND, DEPENDING UPON THE CIRCUMSTANCES, MAY BE EXCLUDED FROM ANY DISCUSSION OF THE MATTER. A DIRECTOR SHALL NOT USE INSIDE INFORMATION OF LEGACY ENDOWMENT FOR HIS/HER PERSONAL BENEFIT, OR USE SUCH INSIDE INFORMATION OR HIS/HER POSITION AS DIRECTOR TO THE DETRIMENT OF LEGACY ENDOWMENT. INSIDE INFORMATION IS INFORMATION OBTAINED THROUGH THE DIRECTOR'S POSITION THAT HAS NOT BECOME PUBLIC INFORMATION. EACH DIRECTOR HAS A DUTY TO PLACE THE INTERESTS OF LEGACY ENDOWMENT FOREMOST IN ANY DEALINGS INVOLVING THE ORGANIZATION AND HAS A CONTINUING RESPONSIBILITY TO COMPLY WITH THE REQUIREMENTS OF THE POLICY. ON AN ANNUAL BASIS, EACH DIRECTOR IS REQUIRED TO COMPLETE A DIRECTOR DISCLOSURE STATEMENT. FORM 990, PAGE 6, PART VI, LINE 15A THE PRESIDENT CARRIES OUT AN ANNUAL PERFORMANCE REVIEW FOR THE EXECUTIVE DIRECTOR AND RECOMMENDS THE LEVEL OF COMPENSATION TO THE BOARD OF DIRECTORS. FORM 990, PAGE 6, PART VI, LINE 19 FORM 990 IS AVAILABLE UPON REQUEST, VIA THE IRS AND CHARITY NAVIGATOR WEB SITES, AND ON LEGACY ENDOWMENT'S WEBSITE. ALL OTHER GOVERNING DOCUMENTS ARE AVAILABLE UPON REQUEST TO THE GENERAL PUBLIC. FORM 990, PART XI, LINE 9 UNREALIZED GAIN ON POOLED SECURITIES 1,351,064 LEGACY PROPERTIES LLC 900957133 REAL ESTAT CA N/A