2025-11-16T14:09:20-06:00 2024-12-31 861065772 DELOITTE TAX LLP 111 MONUMENT CIRCLE STE 4200 INDIANAPOLIS IN 462045108 990 2024-01-01 237025275 LYFORD CAY FOUNDATION INC C/O GILBRIDE TUSA LAST & SPELLANE LLC LYFO 2423624910 31 BROOKSIDE DRIVE GREENWICH CT 06836 BASIL P GOULANDRIS CHAIR 2423624910 2025-11-14 1 0 JEFFREY D FRANK P00287234 3174648600 2025-11-13 2024 2025-03-06 01:10:19Z BASIL P GOULANDRIS 31 BROOKSIDE DRIVE GREENWICH CT 06836 25746335 0 X WWW.LYFORDCAYFOUNDATIONS.ORG X 1969 NY SEE SCHEDULE O. 17 17 0 37 0 0 2373292 3367602 0 0 405858 3345661 172897 323725 2952047 7036988 581262 731668 0 0 725419 826893 0 0 330166 751487 881322 2058168 2439883 893879 4597105 33435159 39572122 178023 249224 33257136 39322898 X SEE SCHEDULE O. 0 0 721455 631168 0 THE FOUNDATION PROVIDES ACADEMIC AND TECHNICAL TRAINING & VOCATIONAL SCHOLARSHIPS FOR DESERVING BAHAMIAN STUDENTS ATTENDING COLLEGES, UNIVERSITIES AND OTHER EDUCATIONAL INSTITUTIONS INTERNATIONALLY. FOR THE FISCAL YEAR 2024, FORTY-FOUR (44) SCHOLARSHIPS WERE GRANTED TO FORTY (40) INSTITUTIONS, TOTALING $631,168. 193417 100500 0 THE FOUNDATION PROVIDES GRANTS TO NOT-FOR-PROFIT ORGANIZATIONS THAT SEEK TO IMPROVE THE GENERAL EDUCATION, HEALTH AND WELFARE OF THE COMMUNITIES THAT THEY SERVE. IN 2024, GRANTS WERE MADE TO TWENTY (20) ORGANIZATIONS, TOTALING $100,500. 632071 0 0 THE FOUNDATION PROVIDES AN EDUCATION INITIATIVE, F.O.C.U.S., WHICH IS AN EIGHT-YEAR SCHOOL ENRICHMENT PROGRAMME DESIGNED TO SET UNDER-RESOURCED STUDENTS ON A PATH TO COLLEGE AND CAREER SUCCESS THROUGH WEEKEND AND SUMMER CLASSES. IN 2024, THE PROGRAMME HOSTED TWO HUNDRED FORTY-TWO (242) STUDENTS, FOR A TOTAL COST OF $632,071. 187697 0 0 SPECIAL PROJECTS AND VOLUNTEER PROGRAMME 187697 0 0 1734640 1 1 0 0 0 0 0 0 0 1 0 1 0 0 0 0 1 0 0 1 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 10 0 1 0 1 1 1 BF 0 0 0 0 0 0 0 0 0 0 X 17 17 1 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 0 0 0 NY X NICOLA VIRGILL-ROLLE PHD 2423624910 WESTERN ROAD NASSAU NEW PROVIDENCE BF MR BASIL P GOULANDRIS CHAIR 7.00 X X 0 0 0 MRS SARAH A FARRINGTON VICE CHAIR 7.00 X X 0 0 0 MRS JUDITH A WHITEHEAD PRESIDENT 7.00 X X 0 0 0 MR JOHN T CRONE IV TREASURER 5.00 X X 0 0 0 LADY CAMILLE BARNETT DIRECTOR 1.00 X 0 0 0 MS SASKIA D'AGUILAR DIRECTOR 1.00 X 0 0 0 MS ROBIN D'ALESSANDRO DIRECTOR 1.00 X 0 0 0 MR JEFFREY A EVERETT DIRECTOR 1.00 X 0 0 0 MR IAN D FAIR DIRECTOR 3.00 X 0 0 0 MRS JENNIFER FLANAGAN DIRECTOR 1.00 X 0 0 0 MR PHILIP HILLIER DIRECTOR 1.00 X 0 0 0 MRS NANCY KELLY DIRECTOR 1.00 X 0 0 0 MR MATTHEW MEEHAN DIRECTOR 1.00 X 0 0 0 MS SUSAN SANFORD DIRECTOR 1.00 X 0 0 0 MRS ROBIN SYMONETTE DIRECTOR 2.00 X 0 0 0 MRS PATRICIA THOMSON LEONARD DIRECTOR 2.00 X 0 0 0 MS WENDY WARREN DIRECTOR 2.00 X 0 0 0 MR E PARKER NEAVE SECRETARY 5.00 X 0 0 0 DR NICOLA VIRGILL-ROLLE PHD EXECUTIVE DIRECTOR 50.00 X 0 0 191336 0 0 191336 0 0 1 0 0 3367602 134257 3367602 670756 670756 21384252 18709347 2674905 2674905 2674905 REIMBURSEMENTS 900099 323725 323725 323725 7036988 323725 0 3345661 437853 437853 293815 293815 758210 503959 73395 180856 10733 4741 1855 4137 43469 19732 7372 16365 14481 8680 1934 3867 14811 3703 11108 61661 61661 175933 175933 43698 3282 40416 59194 34327 11366 13501 113016 67913 24373 20730 48177 27551 9167 11459 26985 1788 25197 13150 8090 2530 2530 STUDENT SUPPLIES & SUPP 113778 113778 STUDENT FOOD 86060 86060 STUDENT TRANSPORTATION 73375 73375 TEACHING SUPPLIES & PRO 51484 51484 2439883 1734640 375077 330166 2004165 3493981 478530 1067298 256893 131307 34939 41957 28201812 32230528 2458820 2607051 33435159 39572122 160470 143454 17553 105770 178023 249224 X 30603025 36271215 2654111 3051683 33257136 39322898 33435159 39572122 4597105 1468657 0 X 0 1 X 1 0 X 1616006 1783854 2339259 2373292 3367602 11480013 0 0 0 0 0 0 0 0 0 0 1616006 1783854 2339259 2373292 3367602 11480013 2916930 8563083 390529 512300 541451 741754 670756 2856790 63427 49758 94990 123286 0 331461 63324 28975 257 49611 323725 465892 15134156 0.56580 0.53870 X SCHEDULE A, PART II, LINE 10, EXPLANATION OF OTHER INCOME: REIMBURSEMENTS - 2020 AMOUNT: $ 63,324. 2021 AMOUNT: $ 28,975. 2022 AMOUNT: $ 257. 2023 AMOUNT: $ 49,611. 2024 AMOUNT: $ 323,725. RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 2654111 0 459406 45000 0 16834 3051683 2430353 0 298967 60000 0 15209 2654111 2763081 0 -252580 65000 0 15148 2430353 2559358 0 271127 50500 0 16904 2763081 2284543 0 340827 52500 0 13512 2559358 1.00000 0 0 0 EQUITY INVESTMENTS 2607051 F 2607051 8505645 1468657 1468657 7036988 0 7036988 2439883 0 2439883 0 2439883 PART V, LINE 4: THE ENDOWMENT FUNDS ARE INTENDED TO PROVIDE SCHOLARSHIPS FOR BAHAMIAN STUDENTS ATTENDING INTERNATIONAL COLLEGES AND UNIVERSITIES. 1 CENTRAL AMERICA AND THE CARIBBEAN 1 9 GRANT-MAKING GRANTS FOR COMMUNITY IMPROVEMENTS 136065 CENTRAL AMERICA AND THE CARIBBEAN 1 9 PROGRAM SERVICES EDUCATION ASSISTANCE 1037862 CENTRAL AMERICA AND THE CARIBBEAN 1 9 PROGRAM SERVICES ADMINISTRATIVE EXPENSES 309290 EUROPE (INCLUDING ICELAND & GREENLAND) 0 0 PROGRAM SERVICES EDUCATION ASSISTANCE 34000 EUROPE (INCLUDING ICELAND & GREENLAND) 0 0 PROGRAM SERVICES ADMINISTRATIVE EXPENSES 18572 NORTH AMERICA 0 0 PROGRAM SERVICES EDUCATION ASSISTANCE 113000 3 27 0 0 3 27 1648789 0 1648789 NORTH AMERICA SCHOLARSHIP ASSISTANCE FOR POST-SECONDARY EDUCATION 30000 CHECK 0 NORTH AMERICA SCHOLARSHIP ASSISTANCE FOR POST-SECONDARY EDUCATION 15000 CHECK 0 NORTH AMERICA SCHOLARSHIP ASSISTANCE FOR POST-SECONDARY EDUCATION 15000 CHECK 0 NORTH AMERICA SCHOLARSHIP ASSISTANCE FOR POST-SECONDARY EDUCATION 13000 CHECK 0 NORTH AMERICA SCHOLARSHIP ASSISTANCE FOR POST-SECONDARY EDUCATION 15000 CHECK 0 EUROPE (INCLUDING ICELAND & GREENLAND) SCHOLARSHIP ASSISTANCE FOR POST-SECONDARY EDUCATION 15000 CHECK 0 NORTH AMERICA SCHOLARSHIP ASSISTANCE FOR POST-SECONDARY EDUCATION 10000 CHECK 0 NORTH AMERICA SCHOLARSHIP ASSISTANCE FOR POST-SECONDARY EDUCATION 15000 CHECK 0 CENTRAL AMERICA AND THE CARIBBEAN SCHOLARSHIP ASSISTANCE FOR POST-SECONDARY EDUCATION 32414 ELECTRONIC FUND/WIRE TRANSFER 0 CENTRAL AMERICA AND THE CARIBBEAN SCHOLARSHIP ASSISTANCE FOR POST-SECONDARY EDUCATION 10750 CHECK 0 EUROPE (INCLUDING ICELAND & GREENLAND) SCHOLARSHIP ASSISTANCE FOR POST-SECONDARY EDUCATION 15000 CHECK 0 CENTRAL AMERICA AND THE CARIBBEAN GRANT ASSISTANCE FOR OPERATING SUPPORT 7000 ELECTRONIC FUND/WIRE TRANSFER 0 CENTRAL AMERICA AND THE CARIBBEAN GRANT ASSISTANCE FOR OPERATING SUPPORT 10000 ELECTRONIC FUND/WIRE TRANSFER 0 CENTRAL AMERICA AND THE CARIBBEAN GRANT ASSISTANCE FOR OPERATING SUPPORT 6000 ELECTRONIC FUND/WIRE TRANSFER 0 CENTRAL AMERICA AND THE CARIBBEAN GRANT ASSISTANCE FOR OPERATING SUPPORT 6000 ELECTRONIC FUND/WIRE TRANSFER 0 33 0 0 0 0 0 0 0 PART I, LINE 2: LYFORD CAY FOUNDATION, INC. MONITORS THE GRANTS IT MAKES TO SCHOLARSHIP RECIPIENTS BY REMITTING THE SCHOLARSHIP FUNDS DIRECTLY TO THE INSTITUTION. THE SCHOLARSHIP GRANT IS AUTOMATICALLY APPLIED AGAINST THE STUDENT'S TUITION AND OTHER ELIGIBLE EXPENSES. SCHOLARSHIP CRITERIA INCLUDE: - MUST BE A BAHAMIAN CITIZEN AND PROVIDE VERIFICATION OF SAME; - MUST BE ACCEPTED AT THE COLLEGE OR UNIVERSITY; - MUST HAVE A MINIMUM GPA OF 3.0 OUT OF A POSSIBLE 4.0 OR EQUIVALENT; - MUST SUBMIT A COMPLETE ONLINE APPLICATION WITH ALL SUPPORTING DOCUMENTATION, INCLUDING VERIFICATION OF FAMILY FINANCIAL RESOURCES, TWO (2) LETTERS OF RECOMMENDATION, A CURRENT RESUME, TWO (2) PERSONAL ESSAYS AND COPIES OF SCHOOL TRANSCRIPTS AND RELEVANT EXAMINATION RESULTS. THE SELECTION PROCESS IS AS FOLLOWS: (I) ALL SUBMITTED APPLICATIONS ARE REVIEWED. (II) NOTICEABLY WEAK CANDIDATES AND INCOMPLETE APPLICATIONS ARE ELIMINATED. (III) SELECTION AMONG THE REMAINING CANDIDATES IS WEIGHTED AS FOLLOWS: - ACADEMIC MERIT - 35% - FINANCIAL NEED - 35% - THE CALIBER OF THE PROPOSED COLLEGE OR UNIVERSITY - 10% - THE FIELD OF STUDY - 10% - THE CANDIDATE'S PERSONAL QUALITIES - 10% (INCLUDING HIS OR HER LEADERSHIP SKILLS, LEVEL OF COMMITMENT TO THE COMMUNITY, ABILITY TO THINK CLEARLY ABOUT PERSONAL STRENGTHS AND GOALS, MOTIVATION AND THE POTENTIAL TO SUCCEED IN COLLEGE) (IV) PRIORITY IS GIVEN TO THE FIELDS OF STUDY CONSIDERED MOST VALUABLE IN SERVING THE ECONOMIC AND SOCIAL NEEDS OF THE BAHAMAS. (V) FINANCIAL RESOURCES ARE CONSIDERED, INCLUDING THE COST OF ATTENDANCE AT THE PROPOSED COLLEGE OR UNIVERSITY AND OTHER SCHOLARSHIP AWARDS AND GRANTS RECEIVED BY THE APPLICANT. AN INDEPENDENT SCREENING COMMITTEE OF LOCAL PROFESSIONALS IS RESPONSIBLE FOR MAKING RECOMMENDATIONS ON CANDIDATES TO RECEIVE SCHOLARSHIPS. THE SCHOLARSHIP SELECTION IS CONFIRMED BY THE EXECUTIVE DIRECTOR AND, ULTIMATELY, RATIFIED BY THE BOARD. TO QUALIFY FOR SCHOLARSHIP RENEWAL, RECIPIENTS ARE REQUIRED TO SUBMIT AN OFFICIAL TRANSCRIPT SHOWING THAT THEY HAVE MAINTAINED THE MINIMUM GPA REQUIREMENTS FOR THEIR SCHOLARSHIP TYPE (I.E. UNDERGRADUATE - 3.0, GRADUATE - 3.5, AND TECHNICAL & VOCATIONAL - 2.75). EFFECTIVE 2008, SCHOLARSHIP RECIPIENTS ARE ALSO REQUIRED TO (I) SUBMIT A WRITTEN PERSONAL EVALUATION OF THEIR ACADEMIC YEAR, (II) COMPLETE TWENTY (20) HOURS OF VOLUNTEER COMMUNITY SERVICE, AND (III) COMPLETE, ON AN ANNUAL BASIS, A COST OF ATTENDANCE FORM DETAILING THEIR EDUCATIONAL EXPENSES, OTHER SCHOLARSHIP AWARDS AND GRANTS, ETC. GRANTS ARE MADE WITH THE UNDERSTANDING THAT THE RECIPIENT WILL RETURN TO LIVE AND WORK IN THE BAHAMAS WHEN HIS OR HER EDUCATION HAS BEEN COMPLETED. PART I, LINE 3: ALL EXPENDITURES ARE ACCOUNTED FOR UNDER THE ACCRUAL METHOD OF ACCOUNTING, FOLLOWING THE ACCOUNTING PRINCIPLES GENERALLY ACCEPTED IN THE UNITED STATES. 1 AVERETT UNIVERSITY 420 WEST MAIN STREET DANVILLE VA 24541 540129860 501(C)(3) 15000 0 SCHOLARSHIP ASSISTANCE FOR POST-SECONDARY EDUCATION BARD COLLEGE 30 CAMPUS ROAD ANNANDALEONHUDSON NY 12504 812950760 501(C)(3) 15000 0 SCHOLARSHIP ASSISTANCE FOR POST-SECONDARY EDUCATION DUKE UNIVERSITY 2080 DUKE UNIVERSITY ROAD DURHAM NC 27708 560532129 501(C)(3) 13770 0 SCHOLARSHIP ASSISTANCE FOR POST-SECONDARY EDUCATION EMBRY-RIDDLE AERONAUTICAL UNIVERSITY 1 AEROSPACE BOULEVARD DAYTONA BEACH FL 321143900 590936101 501(C)(3) 7500 0 SCHOLARSHIP ASSISTANCE FOR POST-SECONDARY EDUCATION FLORIDA SOUTHERN COLLEGE 111 LAKE HOLLINGSWORTH DRIVE LAKELAND FL 33801 590624401 501(C)(3) 15000 0 SCHOLARSHIP ASSISTANCE FOR POST-SECONDARY EDUCATION HARTWICK COLLEGE 1 HARTWICK DRIVE ONEONTA NY 13820 150533561 501(C)(3) 15000 0 SCHOLARSHIP ASSISTANCE FOR POST-SECONDARY EDUCATION HOWARD UNIVERSITY 2400 6TH STREET NW WASHINGTON DC 20059 530204707 501(C)(3) 30000 0 SCHOLARSHIP ASSISTANCE FOR POST-SECONDARY EDUCATION JOHNS HOPKINS UNIVERSITY W UNIVERSITY PARKWAY BALTIMORE MD 21218 520595110 501(C)(3) 15000 0 SCHOLARSHIP ASSISTANCE FOR POST-SECONDARY EDUCATION JOHNSON & WALES UNIVERSITY 8 ABBOTT PARK PLACE PROVIDENCE RI 02903 050306206 501(C)(3) 40000 0 SCHOLARSHIP ASSISTANCE FOR POST-SECONDARY EDUCATION KEISER UNIVERSITY 1500 NW 49TH STREET FORT LAUDERDALE FL 33309 010664195 501(C)(3) 7500 0 SCHOLARSHIP ASSISTANCE FOR POST-SECONDARY EDUCATION KETTERING UNIVERSITY 1700 UNIVERSITY AVENUE FLINT MI 485046214 382410852 501(C)(3) 19500 0 SCHOLARSHIP ASSISTANCE FOR POST-SECONDARY EDUCATION LOUISIANA STATE UNIVERSITY 1909 SKIP BERTMAN DRIVE BATON ROUGE LA 70803 726000848 501(C)(3) 10000 0 SCHOLARSHIP ASSISTANCE FOR POST-SECONDARY EDUCATION LYNN UNIVERSITY 3601 N MILITARY TRAIL BOCA RATON FL 334315407 591023117 501(C)(3) 15000 0 SCHOLARSHIP ASSISTANCE FOR POST-SECONDARY EDUCATION MIDDLE GEORGIA STATE UNIVERSITY 100 UNIVERSITY PARKWAY MACON GA 31206 586002057 501(C)(3) 15000 0 SCHOLARSHIP ASSISTANCE FOR POST-SECONDARY EDUCATION MISSISSIPPI STATE UNIVERSITY 75 BS HOOD ROAD MISSISSIPPI STATE MS 39762 646000819 501(C)(3) 15000 0 SCHOLARSHIP ASSISTANCE FOR POST-SECONDARY EDUCATION NEW ENGLAND INSTITUTE OF TECHNOLOGY 1 NEW ENGLAND TECH BOULEVARD EAST GREENWICH RI 02818 050312747 501(C)(3) 11000 0 SCHOLARSHIP ASSISTANCE FOR POST-SECONDARY EDUCATION NORTH CAROLINA STATE UNIVERSITY VARSITY DRIVE RALEIGH NC 27695 566000756 501(C)(3) 15000 0 SCHOLARSHIP ASSISTANCE FOR POST-SECONDARY EDUCATION NORTH DAKOTA STATE UNIVERSITY 1340 ADMINISTRATION AVENUE FARGO ND 58105 456002439 501(C)(3) 25000 0 SCHOLARSHIP ASSISTANCE FOR POST-SECONDARY EDUCATION SPRING HILL COLLEGE 4000 DAUPHIN STREET MOBILE AL 36608 630302179 501(C)(3) 7500 0 SCHOLARSHIP ASSISTANCE FOR POST-SECONDARY EDUCATION TENNESSEE STATE UNIVERSITY 3500 JOHN A MERRITT BOULEVARD NASHVILLE TN 37209 620786119 501(C)(3) 15000 0 SCHOLARSHIP ASSISTANCE FOR POST-SECONDARY EDUCATION UNIVERSITY OF CALIFORNIA AT BERKELEY CAMPANILE WAY BERKELEY CA 94720 946002123 501(C)(3) 30000 0 SCHOLARSHIP ASSISTANCE FOR POST-SECONDARY EDUCATION UNIVERSITY OF DELAWARE 210 S COLLEGE AVENUE NEWARK DE 19716 516000297 501(C)(3) 15000 0 SCHOLARSHIP ASSISTANCE FOR POST-SECONDARY EDUCATION UNIVERSITY OF GEORGIA 210 S JACKSON STREET ATHENS GA 30602 586001998 501(C)(3) 7500 0 SCHOLARSHIP ASSISTANCE FOR POST-SECONDARY EDUCATION UNIVERSITY OF MARYLAND 7965 BALTIMORE AVENUE COLLEGE PARK MD 20742 521899085 501(C)(3) 15000 0 SCHOLARSHIP ASSISTANCE FOR POST-SECONDARY EDUCATION UNIVERSITY OF SOUTHERN MISSISSIPPI 118 COLLEGE DRIVE HATTIESBURG MS 39406 646000818 501(C)(3) 20000 0 SCHOLARSHIP ASSISTANCE FOR POST-SECONDARY EDUCATION UNIVERSITY OF THE OZARKS 415 NORTH COLLEGE AVENUE CLARKSVILLE AR 72830 710236867 501(C)(3) 15000 0 SCHOLARSHIP ASSISTANCE FOR POST-SECONDARY EDUCATION WASHBURN UNIVERSITY 1700 NW COLLEGE AVENUE TOPEKA KS 66621 486030115 501(C)(3) 7500 0 SCHOLARSHIP ASSISTANCE FOR POST-SECONDARY EDUCATION 29 0 PART I, LINE 2: LYFORD CAY FOUNDATION, INC. MONITORS THE GRANTS IT MAKES TO SCHOLARSHIP RECIPIENTS BY REMITTING THE SCHOLARSHIP FUNDS DIRECTLY TO THE INSTITUTION. THE SCHOLARSHIP GRANT IS AUTOMATICALLY APPLIED AGAINST THE STUDENT'S TUITION AND OTHER ELIGIBLE EXPENSES FOR THE RESPECTIVE ACADEMIC YEAR. LCFI STAFF CONDUCT REGULAR CHECK-INS WITH THE STUDENTS THROUGHOUT THE YEAR. SCHOLARSHIP CRITERIA INCLUDE: - MUST BE A BAHAMIAN CITIZEN AND PROVIDE VERIFICATION OF SAME; - MUST BE ACCEPTED AT THE COLLEGE OR UNIVERSITY; - MUST HAVE A MINIMUM GPA OF 3.0 OUT OF A POSSIBLE 4.0 OR EQUIVALENT; - MUST SUBMIT A COMPLETE ONLINE APPLICATION WITH ALL SUPPORTING DOCUMENTATION, INCLUDING VERIFICATION OF FAMILY FINANCIAL RESOURCES, TWO (2) LETTERS OF RECOMMENDATION, A CURRENT RESUME, TWO (2) PERSONAL ESSAYS AND COPIES OF SCHOOL TRANSCRIPTS AND RELEVANT EXAMINATION RESULTS. THE SELECTION PROCESS IS AS FOLLOWS: (I) ALL SUBMITTED APPLICATIONS ARE REVIEWED. (II) NOTICEABLY WEAK CANDIDATES AND INCOMPLETE APPLICATIONS ARE ELIMINATED. (III) SELECTION AMONG THE REMAINING CANDIDATES IS WEIGHTED AS FOLLOWS: - ACADEMIC MERIT - 35% - FINANCIAL NEED - 35% - THE CALIBER OF THE PROPOSED COLLEGE OR UNIVERSITY - 10% - THE FIELD OF STUDY - 10% - THE CANDIDATE'S PERSONAL QUALITIES - 10% (INCLUDING HIS OR HER LEADERSHIP SKILLS, LEVEL OF COMMITMENT TO THE COMMUNITY, ABILITY TO THINK CLEARLY ABOUT PERSONAL STRENGTHS AND GOALS, MOTIVATION AND THE POTENTIAL TO SUCCEED IN COLLEGE) (IV) PRIORITY IS GIVEN TO THE FIELDS OF STUDY CONSIDERED MOST VALUABLE IN SERVING THE ECONOMIC AND SOCIAL NEEDS OF THE BAHAMAS. (V) FINANCIAL RESOURCES ARE CONSIDERED, INCLUDING THE COST OF ATTENDANCE AT THE PROPOSED COLLEGE OR UNIVERSITY AND OTHER SCHOLARSHIP AWARDS AND GRANTS RECEIVED BY THE APPLICANT. AN INDEPENDENT SCREENING COMMITTEE OF LOCAL PROFESSIONALS IS RESPONSIBLE FOR MAKING RECOMMENDATIONS ON CANDIDATES TO RECEIVE SCHOLARSHIPS. THE SCHOLARSHIP SELECTION IS CONFIRMED BY THE EXECUTIVE DIRECTOR AND, ULTIMATELY, RATIFIED BY THE BOARD. TO QUALIFY FOR SCHOLARSHIP RENEWAL, RECIPIENTS ARE REQUIRED TO SUBMIT AN OFFICIAL TRANSCRIPT SHOWING THAT THEY HAVE MAINTAINED THE MINIMUM GPA REQUIREMENTS FOR THEIR SCHOLARSHIP TYPE (I.E. UNDERGRADUATE - 3.0, GRADUATE - 3.5, AND TECHNICAL & VOCATIONAL - 2.75). EFFECTIVE 2008, SCHOLARSHIP RECIPIENTS ARE ALSO REQUIRED TO (I) SUBMIT A WRITTEN PERSONAL EVALUATION OF THEIR ACADEMIC YEAR, (II) COMPLETE TWENTY (20) HOURS OF VOLUNTEER COMMUNITY SERVICE, AND (III) COMPLETE, ON AN ANNUAL BASIS, A COST OF ATTENDANCE FORM DETAILING THEIR EDUCATIONAL EXPENSES, OTHER SCHOLARSHIP AWARDS AND GRANTS, ETC. GRANTS ARE MADE WITH THE UNDERSTANDING THAT THE RECIPIENT WILL RETURN TO LIVE AND WORK IN THE BAHAMAS WHEN HIS OR HER EDUCATION HAS BEEN COMPLETED. X X 0 0 0 0 0 0 0 0 0 DR NICOLA VIRGILL-ROLLE PHD EXECUTIVE DIRECTOR 0 0 0 0 0 0 0 0 191336 0 191336 0 0 0 X 1 134257 COST OR SELLING PRICE 0 0 1 0 PART I, COLUMN (B): THE NUMBER OF CONTRIBUTIONS. FORM 990, PART I, LINE 1: LYFORD CAY FOUNDATION, INC. SUPPORTS THE DEVELOPMENT OF THE BAHAMAS BY INVESTING ITS RESOURCES DIRECTLY IN PHILANTHROPIC INITIATIVES, INCLUDING: POST-SECONDARY EDUCATION, THE SUPPORT OF BAHAMIAN NOT-FOR-PROFIT ORGANIZATIONS AND THE PREPARATION OF BAHAMIAN STUDENTS FOR POST-SECONDARY OPPORTUNITIES. FORM 990, PART III, LINE 1: LYFORD CAY FOUNDATION, INC. SUPPORTS THE DEVELOPMENT OF THE BAHAMAS BY INVESTING ITS RESOURCES DIRECTLY IN PHILANTHROPIC INITIATIVES. THE FOUNDATION'S PRIMARY MEANS OF ACHIEVING THIS AIM IS VIA THE AWARDING OF SCHOLARSHIPS FOR POST-SECONDARY EDUCATION AND TECHNICAL TRAINING; THE SUPPORT OF BAHAMIAN NOT-FOR-PROFIT CHARITABLE ORGANIZATIONS TARGETING THE EMOTIONAL, EDUCATIONAL AND RECREATIONAL NEEDS OF CHILDREN AND YOUNG ADULTS, THE ENVIRONMENT AND OTHER PRESSING SOCIAL ISSUES; AND TO PROVIDING EFFECTIVE PROGRAMS THAT ENHANCE THE PREPARATION OF A LARGER NUMBER OF BAHAMIAN STUDENTS FOR POST-SECONDARY OPPORTUNITIES AND THE CAREERS OF A GLOBALLY-COMPETITIVE WORLD. FORM 990, PART VI, SECTION A, LINE 2 JUDITH WHITEHEAD & UNDISCLOSED BOARD MEMBERS - BUSINESS RELATIONSHIP FORM 990, PART VI, SECTION B, LINE 11B BEFORE THE FORM IS SUBMITTED FOR FILING WITH THE IRS, IT IS SUBMITTED TO THE FOUNDATION'S AUDIT COMMITTEE FOR REVIEW AND APPROVAL. ONCE ANY NECESSARY ADJUSTMENTS HAVE BEEN MADE, THE FORM IS FORWARDED TO THE FOUNDATION'S EXECUTIVE COMMITTEE FOR FINAL APPROVAL. THE FORM IS PROVIDED TO ALL MEMBERS OF THE BOARD SUBSEQUENT TO SUBMISSION. FORM 990, PART VI, SECTION B, LINE 12C ON AN ANNUAL BASIS, ALL DIRECTORS, OFFICERS AND EMPLOYEES ARE REQUIRED TO COMPLETE AN ACKNOWLEDGEMENT OF THE STATEMENT OF POLICY ON CONFLICTS OF INTEREST. THE EXECUTIVE DIRECTOR IS RESPONSIBLE FOR COMPILING A LIST OF CONFLICTS DECLARED IN ACCORDANCE WITH THE PROCEDURE AND SUBMITS THE LIST TO THE AUDIT COMMITTEE. THE AUDIT COMMITTEE IS RESPONSIBLE FOR REVIEWING SUCH LISTING AND MONITORING ITS COMPLIANCE. FOUNDATION DIRECTORS, OFFICERS AND EMPLOYEES ARE ENCOURAGED TO PARTICIPATE IN THE DISCUSSION ON GRANTS TO ORGANIZATIONS TO WHICH THEY HAVE OFFICIAL AND DISCLOSED CONNECTIONS; HOWEVER, THEY MAY NOT VOTE AS A MEMBER OF THE BOARD OF DIRECTORS UPON ANY PROPOSED GRANT TO SUCH APPLICANTS. ALL CONFLICTS ARE TO BE NOTED IN THE MINUTES OF THE MEETING. FORM 990, PART VI, SECTION C, LINE 19 THE GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY AND FINANCIAL STATEMENTS ARE MADE AVAILABLE TO THE PUBLIC UPON BEING REQUESTED FROM THE ORGANIZATION. A SUMMARIZED VERSION OF THE FINANCIAL STATEMENTS ARE ALSO PRESENTED IN THE FOUNDATION'S ANNUAL REPORT PUBLICATION.