| Form 990, Part VI, Section A, line 1 |
All the directors have the same voting rights and all votes are subject to approval of the Member. |
| Form 990, Part VI, Section A, line 2 |
Many of the persons listed on Part VII have a "business relationship" with each other by virtue of employment by related entities. |
| Form 990, Part VI, Section A, line 3 |
The USOPF has entered into a service agreement with the USOC, a related party, whereby certain services are provided by the USOC. These include management services of the USOC CEO, CFO and other management. See Schedule R for more details. |
| Form 990, Part VI, Section A, line 6 |
The USOPF has one class of membership and one Member, which has all voting rights of membership. The sole member is the USOC (Member). |
| Form 990, Part VI, Section A, line 7a |
The business and affairs of the USOPF are managed by or under the direction of the USOPF Board. The activities of the USOPF Board shall be limited to fundraising, and maintaining and investing endowment funds for the benefit of the Member. |
| Form 990, Part VI, Section A, line 7b |
USOPF Board members do not have different voting rights. All Board Members have a single vote. Household Board Members have only one vote per pair. However, as a supporting organization, the USOC, as the Sole Member of the USOPF, has approval authority for most actions that the Board can take by vote. This authority includes: appointment of committee members, elections of new Board Members, etc. |
| Form 990, Part VI, Section B, line 11 |
The Finance Committee of the USOPF is charged with overseeing the accounting and financial reporting processes of the Foundation. The Finance Committee has been provided with a complete copy of the Form 990 prior to submission. The Treasurer will conduct a telephonic conference with members of the Finance Committee to discuss any issues or concerns that are raised. The Treasurer will take immediate action to resolve any outstanding issues raised by the members of the Finance Committee. All other members of the governing body have been provided with the public disclosure copy Form 990 prior to filing. The Treasurer and Chair of the Finance Committee will meet or conduct telephone conferences with USOPF Board members to address any questions or concerns. The Treasurer will take immediate action to address any outstanding matters prior to filing. The Finance Committee will formally approve the complete 990 prior to it being filed with the Internal Revenue Service. |
| Form 990, Part VI, Section B, line 12c |
The USOPF requires Officers and Board members to annually disclose potential conflicts of interest through a voluntary disclosure process conducted in the fall. Any potential conflicts reported by Board members or Officers are reviewed by a committee including the USOPF President, USOPF Secretary and the Ethics officer of the USOC. Disclosures that give rise to actual conflicts are communicated by Committee members to the disclosing member. Any conflicts are handled privately and individually and may include broader disclosure of the conflict to the Board, creating a firewall regarding issues on which the member is conflicted, request for resignation or other such remedies. |
| Form 990, Part VI, Section C, line 19 |
United States Olympic and Paralympic Foundation's bylaws, conflict of interest policy and audited financial statements can be found at TeamUSA.org/us-olympic-and-paralympic-foundation. |
Attach to Form 990 or 990-EZ.