2015-11-12T14:41:11-06:00 2014-12-31 COHNREZNICK LLP 6720B ROCKLEDGE DRIVE SUITE 750 BETHESDA MD 20817 990 2014-01-01 133905508 FOOD ALLERGY RESEARCH & EDUCATION INC % SANDEEP DHAR FOOD 7036913179 7925 JONES BRANCH DRIVE STE 1100 MCLEAN VA 221025303 SANDEEP DHAR CFO 7036913179 2015-11-12 true DANIEL D O'SHEA P00957510 3016547555 2014 2016-02-25 16:41:14Z JAMES BAKERMD 7925 JONES BRANCH DRIVE MCLEAN VA 221025303 13771995 false X WWW.FOODALLERGY.ORG X 1998 NY SEE PART III, LINE 1 17 16 81 250 0 15724060 13080496 315365 52268 11361 7852 -549718 -312017 15501068 12828599 2152722 1405838 0 0 5508423 6061344 0 0 2473505 4924863 4400863 12586008 11868045 2915060 960554 14109091 9862161 6217734 3301771 7891357 6560390 X Food Allergy Research & Education (FARE) is the nation's leading advocacy organization working on behalf of the 15 million Americans with food allergies, including all those at risk for life-threatening anaphylaxis. FARE's mission is to improve the quality of life and the health of individuals with food allergies, and to provide them hope through the promise of new treatments. Our work is organized around three core tenets: LIFE - support the ability of individuals with food allergies to live safe, productive lives with the respect of others through our education and advocacy initiatives; HEALTH - enhance the healthcare access of individuals with food allergies to state-of-the-art diagnosis and treatment; and HOPE - encourage and fund research in both industry and academia that promises new therapies to improve the allergic condition. false false 2304000 1171773 RESEARCH: In 4Q 2014, asked leading sites around the country if they wanted to apply for the FARE Clinical Network ('FCN'). Following a very strong response, applicants were asked to submit their applications in 1Q 2015. FARE expects that members of the FARE Clinical Network will serve as sites for clinical trials for the development of new therapeutics and will develop best practices for the care of patients with food allergies. FARE also expects that the FCN will also advance collaboration in the field as member centers will contribute to the development of a national food allergy patient registry and biorepositories. New Investigator and Mid-Career Awards In 3Q 2014, FARE announced an RFP process aimed at attracting gifted early and mid-career investigators to the field of food allergy. FARE believes that these awards are an important step toward markedly increasing the number of investigators working in the field. The inaugural FARE Investigator in Food Allergy Awards will be awarded and funded in 2015. FARE began funding the following new research studies in 2014: A) Institute of Medicine Study: Food Allergies: Global Burden, Causes, Treatment, Prevention, and Public Policy (Consensus Study) FARE initiated this project with the Institute of Medicine and is the lead sponsor of this important study. FARE spent more than two years prior to the study's launch working with the Institute of Medicine to organize the topics to be explored, to help identify members of the expert panel that will be examining the issues and to nominate individuals to the volunteer patient advisory panel. Importantly, FARE also worked to secure a diverse array of co-sponsors to provide funding support for the study. Co-sponsors of the consensus study include the National Institutes of Health, the U.S. Department of Agriculture - Food and Nutrition Service, the U.S. Food and Drug Administration, industry groups and patient groups. FARE funding took place in December 2014. When completed, this study will serve as a comprehensive report on the state of food allergy in the U.S. and will help raise awareness and provide essential information toward guiding future education, advocacy and research efforts. Among the key questions being considered by the consensus study committee: 1) Why are food allergies more common today than in the past? What are the implications of current trends in prevalence? 2) What are the key prenatal/early life determinants of food allergy? 3) Why are some individuals allergic to a single allergen while others to multiple allergens? 4) Are there ways to improve diagnosis? 5) What research gaps need to be filled in order to provide better guidance to healthcare providers and policy-makers? B) Fred D. Finkelman, McDonald Professor of Medicine, Professor of Pediatrics, U. of Cincinnati College of Medicine Study: Rapid Suppression of Food Allergy with Anti-FCeRIa Antibody Summary: Dr. Finkelman's group at the University of Cincinnati and Cincinnati Children's Hospital published a paper in the June, 2013 issue of the JACI that describes a novel approach for suppressing IgE-mediated allergy: rapid desensitization with an antibody to the high affinity IgE receptor, Fc epsilon RI. The paper showed that this approach could completely suppress IgE-mediated anaphylaxis in mice and that it was longer lasting and less likely to be associated with side effects than rapid desensitization with an allergen. The goal of this proposal is to adapt this approach to people who have IgE-mediated disease, on making it work more rapidly (hours instead of days) and on making it even safer. The approach involves generating and modifying antibodies to human Fc epsilon RI and testing them in 2 sets of humanized mice, one that expresses human Fc epsilon RI instead of mouse Fc epsilon RI; the other that generates human mast cells, basophils and IgE. If successful, this approach could suppress all IgE-mediated disease, including IgE-mediated food allergy, more rapidly and completely than omalizumab and would work even in people who have high levels of IgE. C) Emily McGowan, ARTrust Award Recipient. Study: Folic Acid Supplementation: A Risk Factor for the Development of Food Allergy? D) Dr. Sylvia Owusu-Ansah - Johns Hopkins Study: Determining the Prescription Fill Rate of Pediatric Patients Diagnosed with Anaphylaxis in the Pediatric Emergency Dept. E) Dr. Ruchi Gupta - Lurie Children's Hospital Study: Understanding Differences in Knowledge and Attitudes Around Food Allergy Thresholds and Food F) Dr. Ruchi Gupta - Lurie Children's Hospital Study: Retrospective Analysis of Sublingual Immunotherapy In addition, FARE continued to fund ongoing clinical trials (Milk, Peanut OIT/SLIT, Multi Food Allergens, Wheat, Walnut), of promising new treatments, as well as epidemiological and basic research. The results of FARE-funded research studies were published in leading peer-reviewed scientific journals, including Allergy & Asthma Proceedings, Annals of Allergy and Immunology, JAMA Pediatrics, the Journal of Allergy and Clinical Immunology, and the Journal of Allergy and Clinical Immunology: In Practice. 5410575 234065 EDUCATION, AWARENESS & COMMUNICATIONS: FARE conducted food allergy education through both national and regional efforts. These education programs provided vital information on preventing and managing food allergy reactions, including the life-threatening reaction known as anaphylaxis. FARE's national education initiatives provide information for those living with food allergies, as well as those whose work is impacted by food allergies and the public. In 2014, FARE provided free educational information through its website (foodallergy.org) and blog, maintained an ongoing monthly webinar series on a variety of topics related to food allergy management, and distributed key educational materials such as "Your Food Allergy Field Guide," a comprehensive resource for newly diagnosed patients. FARE also hosted its annual Teen Summit, a national gathering of teens (ages 11-22) with food allergies, along with their parents and siblings; two College Summits to create comprehensive best practices for identifying and serving the needs of students with food allergies in every aspect of student life; and our National Food Allergy Conference and Leaders' Summit, which brought together individuals and families managing food allergies, caregivers, school staff, and health care professionals, giving them an opportunity to learn about advances in food allergy research and advocacy, best practices and practical skills for living well with food allergies. FARE also convened food allergy experts, emergency physicians, paramedics and EMTs, emergency medicine educators, policymakers and advocates for the Emergency Management of Anaphylaxis Summit in Chicago, outcomes of which included include recommendations for recognition and treatment of anaphylaxis by pre-hospital and emergency department personnel. FARE also continued its national training programs for restaurant workers to educate regarding serving diners with food allergies and launched the SafeFARE website and database as a resource for the hospitality industry and diners with food allergy. FARE's SafeFARE public awareness campaign, launched in April 2014 with TV and radio public service announcements starring celebrity chefs, brought significant attention to the unique issues food allergy families face when dining out. In 2014, these public service announcements aired more than 63,000 times, garnering more than 1.2 million impressions and more than $14 million in total donated media value. In addition, the TV PSA was shown on the CNN Airport Network, which reaches travelers at more than 2,100 gates at 49 airports from coast to coast, and the campaign reached 12.4 million online users. FARE continued managing a cooperative agreement with the CDC where we created user-friendly resources, tools and webinars based on the CDC guidelines. FARE also provided community funding awards to local food allergy advocates and leaders to support education and awareness programs in their local communities. These awards served a total of nearly 1 million people in 30 states. In partnership with the American College of Emergency Physicians (ACEP), FARE created the new Anaphylaxis Toolkit, a comprehensive resource to help answer questions about managing life-threatening allergies. Through our programs and outreach to media nationwide, FARE heightens awareness of food allergy as a significant and growing public health issue that demands urgent attention. In 2014, FARE's national FARE Walk for Food Allergy program brought together supporters in nearly 60 communities for family-friendly events focused on supporting the food allergy community's cause and increasing awareness of food allergy as a serious public health issue. In May 2014, FARE announced the creation of the first Food Allergy Action Month, expanding the traditional awareness week into an entire month of activities and actions supporters could take to help increase understanding of food allergies and make a positive difference in the lives of those managing the disease. In October 2014, FARE launched the Teal Pumpkin Project, a campaign designed to promote safety, inclusion and respect of individuals managing food allergies - and to keep Halloween a fun, positive experience for all. Resonating with communities across the country and around the world, the Teal Pumpkin Project reached nearly 7 million people on social media, was covered in more than 800 media outlets, and garnered participation from all 50 states, Washington, D.C., Puerto Rico and in six other countries. FARE's media outreach efforts resulted in coverage in more than 1,900 media outlets throughout the year. In the digital space, FARE's award-winning website received more than 2.5 million visits in 2014, FARE's bimonthly e-newsletter reached more than 130,000 subscribers, and FARE's growing social media presence continued to reach tens of thousands of users with important information about food allergies. In 2014, FARE issued 154 allergy alerts, which provide information about mislabeled or recalled food, and 11 ingredient notices, which are advance notifications of ingredient changes from food companies. For food allergy families, this is critical information to receive in order to prevent inadvertent reactions. 710838 Advocacy and Public Policy: FARE devoted resources to addressing a range of public policy issues that affect Americans with food allergies and the entities that serve them. FARE has provided information and subject matter expertise to the Food and Drug Administration and National Institutes of Health, supported and helped initiate a consensus panel on food allergy at the Institute of Medicine. FARE also convened a coalition group of patient advocacy organizations regarding the steps that the airline industry can take to better accommodate passengers with food allergies. FARE continues to lead this coalition effort, and has worked with coalition partners to develop the key priorities we will work to address via direct work with airlines, Federal legislation, and other regulatory policy avenues. At the state level, FARE has been integral to the passage of laws that allow or require schools to stock auto-injectable epinephrine in 46 states, as well as 16 states that now allow public-serving entities to stock this lifesaving medication as well. FARE also helped pass laws to strengthen restaurant preparedness in food allergies in Virginia and Michigan. 8425413 true true false true false false false false false false true false false false true true true false false false true false true false true true false true true true false false false false false false false false true false false false false false false false false true 53 0 true 81 true false false false false false true true false false false false X 17 16 false false false false false false false true true false false false true true true true true true true true true AL AR CA CO CT FL GA IL KS KY ME MD MA MI MN MS MO NH NJ NM NY NC ND OH OK OR PA RI SC UT VA WA WV WI X X SANDEEP DHAR 7036913179 7925 JONES BRANCH DRIVE SUITE 1100 MCLEAN VA 22102 X JANET ATWATER CHAIR 1.0 0.0 X X 0 0 0 JULIE BIRKEY DIRECTOR 1.0 0.0 X 0 0 0 LESLIE CORNFELD DIRECTOR 1.0 0.0 X 0 0 0 ANDREW GILMAN DIRECTOR 1.0 0.0 X 0 0 0 JOHN HANNAN DIRECTOR 1.0 0.0 X 0 0 0 DAVID JAFFE DIRECTOR 1.0 0.0 X 0 0 0 MICHAEL LADE TREASURER 1.0 0.0 X X 0 0 0 REBECCA LAINOVIC DIRECTOR 1.0 0.0 X 0 0 0 SHARYN MANN secretary 1.0 0.0 X X 0 0 0 ADAM MILLER DIRECTOR 1.0 0.0 X 0 0 0 ROBERT NICHOLS VICE CHAIR 1.0 0.0 X X 0 0 0 AMIE RAPPAPORT MCKENNA DIRECTOR 1.0 0.0 X 0 0 0 TODD SLOTKIN DIRECTOR 1.0 0.0 X 0 0 0 MARIA ACEBAL DIRECTOR 1.0 0.0 X 0 0 0 JOE IANNIELLO DIRECTOR 1.0 0.0 X 0 0 0 MARY WEISER DIRECTOR 1.0 0.0 X 0 0 0 JAMES BAKER JR CEO - EFFECTIVE 8/1/14 40.0 0.0 X X 208151 0 7364 JOHN LEHR CEO - THROUGH 8/16/14 40.0 0.0 X 406201 0 16906 IRVING A ALEXANDER III CFO 40.0 0.0 X 234172 0 21207 MARY JANE MARCHISOTTO SENIOR VP OF RESEARCH 40.0 0.0 X 301411 0 15218 DONNA MCKELVEY SR. VP DEVELOPMENT 40.0 0.0 X 179950 0 5503 VERONICA LAFEMINA VP OF COMMUNICATIONS 40.0 0.0 X 180633 0 23414 GEORGE DAHLMAN VP OF ADVOCACY 40.0 0.0 X 138191 0 21315 ANNE HORNING DIRECTOR OF SPECIAL EVENTS 40.0 0.0 X 147831 0 11027 MICHAEL SPIGLER VP OF EDUCATION 40.0 0.0 X 158617 0 24808 LANNY BROMFIELD CONTROLLER 40.0 0.0 X 136674 0 11584 2091831 0 158346 16 false true false DATAPRISE INC 9600 BLACKWELL RD 4TH FLR ROCKVILLE MD 20850 IT SUPPORT 210557 COLORNET PRINTING GRAPHICS 22570 GLENN DR STERLING VA 20164 COPY AND PRINTING 463258 BANK OF AMERICA BUSINESS CARD PO BOX 15796 WILMINGTON DE 19886 FINANCIAL SERVICES 479848 AMERICAN EXPRESS PO BOX 360001 FT LAUDERDALE FL 33336 FINANCIAL SERVICES 392840 PS BUSINESS PARKS PO BOX 535011 ATLANTA GA 35350 RENT 203464 11 226929 4773454 161582 7918531 200488 13080496 EDUCATIONAL PROGRAMS 900099 52268 52268 52268 7932 7932 0 0 0 0 0 125890 125970 -80 -80 -80 390969 4773454 789623 -398654 -398654 70636 4540 66096 66096 41946 23263 18683 18683 OTHER INCOME 900099 1858 1858 1858 12828599 72809 -324706 1171773 1171773 223310 223310 10755 10755 0 1450646 655516 428021 367109 0 3751880 2851991 92663 807226 101540 76595 3032 21913 395023 291963 27817 75243 362255 246191 32041 84023 0 62503 9241 52807 455 46204 46204 152250 152250 0 0 1047016 778473 20969 247574 71787 23908 47879 1111251 648889 72854 389508 361069 249327 35676 76066 0 465834 248179 106599 111056 496735 364686 19726 112323 0 483821 380648 887 102286 0 0 42033 20213 13172 8648 40750 15100 9840 15810 MISC. EXPENSES 19610 6405 6819 6386 11868045 8425413 969127 2473505 X 2633341 2080340 553001 3848880 1751322 5483713 3762810 1678653 3548389 309110 105820 0 0 0 0 0 0 47743 45538 149729 365663 204575 115604 126137 88971 860 0 2442026 150505 0 0 0 0 22240 43143 14109091 9862161 1165866 627365 4880692 2529250 1500 3449 0 0 0 0 0 0 0 0 0 0 169676 141707 6217734 3301771 X 3337330 1609829 4554027 4950561 0 0 7891357 6560390 14109091 9862161 X 960554 380896 -2672417 X false true X true false X 5564660 7361212 8817983 15724060 13005978 50473893 0 0 5564660 7361212 8817983 15724060 13005978 50473893 13391950 37081943 57217 18160 24100 15222 7932 122631 0 0 50596524 517021 0.73289 0.69456 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 152250 152250 11641277 11793527 739676 184919 574231 640608 779300 739676 2733815 4100723 105000 506841 321000 152250 1085091 143558 160152 194825 184919 683454 1025181 16547 6934 9613 107947 72161 35786 80081 36509 43572 88971 0 DEFERRED RENT 135480 DEPOSITS 5300 PENSION PAYABLE 927 141707 X 10973608 -1854991 -1854991 12828599 12828599 12685471 817426 817426 11868045 11868045 FIN 48 FOOTNOTE PART X, LINE 2 FARE believes it has appropriate support for any tax position taken and, as such, does not have any uncertain tax positions that are material to the financial statements. FARE recognizes interest expense and penalties on income taxes related to uncertain tax positions in general and administrative expenses on the statement of activities and change in net assets, and accounts payable and accrued expenses in the statement of financial position. There is no provision in these financial statements for penalties and interest on income taxes related to uncertain tax positions for the year ended December 31, 2014. Tax years prior to 2011 are no longer subject to examination by the IRS or the tax jurisdictions of the state of New York and the Commonwealth of Virginia. Reconciliation of Revenue PART XI, LINE 2D Cost of Goods Sold $23,263 Direct Fundraising Expenses $794,163 Loss from Equity Method reporting of investment in corporation ($2,672,417) ---------- Amount on Line 2d ($1,854,991) Reconciliation of Expenses PART XII, LINE 2D Cost of Goods Sold $23,263 Direct Fundraising Expenses $794,163 ---------- Amount on Line 2d $817,426 true North America 0 1 Grantmaking 10755 0 1 0 1 10755 10755 EDUCATIONAL GRANTS - FOREIGN North America 1 10755 wire false false false false false false MONITORING THE USE OF GRANT FUNDS There is a formal grant review process. All disbursements are documented. Grantees are required to write annual updates on their progress as well as goals achieved. Future grant awards are contingent upon achievement of specific milestones. GALA 2619153 2479153 140000 94320 176897 16750 73711 LUNCH 919774 822274 97500 0 116316 0 30931 5 1625496 1472027 153469 87606 156298 25000 11794 5164423 4773454 390969 181926 449511 41750 116436 789623 -398654 70636 4540 false 70636 4540 4540 66096 NY true false true false 1.00000 ANNE HORNING 515 Madison Avenue Suite 1912 New York NY 10022 false false true AMER ACADEMY OF ALLERGY ASTHMA & IMMUNOLOGY 555 E WELLS ST MILWAUKEE WI 53202 396061326 501(c)(3) 65000 GITTIS MEMORIAL CHILDREN'S HOSPITAL TRUST 401 PARK DR STE 602 BOSTON MA 02215 042774441 501(c)(3) 8880 EDUCATION LURIE CHILDREN'S HOSPITAL OF CHICAGO 225 EAST CHICAGO BOX 4 CHICAGO IL 60611 362170833 501(c)(3) 167000 FOOD ALLERGY PROJECT JOHNS HOPKINS UNIVERSITY 1800 ORLEANS ST BALTIMORE MD 21287 520595110 501(c)(3) 10000 MULTI CENTER PILOT STUDY MOUNT SINAI SCHOOL OF MEDICINE 1 GUSTAVE L LEVY PLACE NEW YORK NY 10029 136171197 501(c)(3) 103921 RESEARCH & CLINICAL ADMIN STANFORD UNIVERSITY SCHOOL OF MEDICINE 301 RAVENSWOOD DRIVE MENLO PARK CA 94025 941156365 501(c)(3) 105030 RESEARCH ARTRUST 555 EAST WELLS ST MILWAUKEE WI 53202 451495723 501(C)(3) 137337 RESEARCH NATIONAL ACADEMY OF SCIENCES 500 FIFTH ST NW WASHINGTON DC 20001 530196932 501(C)(3) 419394 CONSENSUS STUDY UNIVERSITY OF CINCINNATI 51 GOODMAN DR STE 530 CINCINNATI OH 45221 316000989 501(C)(3) 734986 RESEARCH AMER PARTNERSHIP FOR EOSINOPHILIC DISORDERS PO BOX 29545 ATLANTA GA 30359 760700153 501(C)(3) 125731 EDUCATION ANAPHYLAXIS AND FOOD ALLERGY ASSOCIATION 2200 HENDON AVE ST PAUL MN 55108 050585572 501(C)(3) 6220 EDUCATION FOOD ALLERGY AWARENESS COALITION 13125 OAK HILL DR PIEDMONT OK 73078 460552944 501(C)(3) 6760 EDUCATION UTAH FOOD ALLERGY NETWORK 1250 LILLIE CIRCLE SALT LAKE CITY UT 84121 208914771 501(C)(3) 8650 EDUCATION WASHINGTON FEAST 8305 31ST AVE NW SEATTLE WA 98117 262003207 501(C)(3) 8250 EDUCATION 14 COMMUNITY GRANTS 94 210516 LEADERS SUMMIT 34 12794 MONITORING THE USE OF GRANT FUNDS There is a formal grant review process. All disbursements are documented. Grantees are required to write annual updates on their progress as well as goals achieved. Future grant awards are contingent upon achievement of specific milestones. X X X true false false false false false false true false JOHN LEHR CEO - THROUGH 8/16/14 206888 0 75000 0 124313 0 8466 0 8440 0 423107 0 0 0 VERONICA LAFEMINA VP OF COMMUNICATIONS 157383 0 23250 0 0 0 15441 0 7973 0 204047 0 0 0 MARY JANE MARCHISOTTO SENIOR VP OF RESEARCH 230161 0 71250 0 0 0 8906 0 6312 0 316629 0 0 0 GEORGE DAHLMAN VP OF ADVOCACY 120141 0 18050 0 0 0 4269 0 17046 0 159506 0 0 0 DONNA MCKELVEY SR. VP DEVELOPMENT 179950 0 0 0 0 0 5381 0 122 0 185453 0 0 0 ANNE HORNING DIRECTOR OF SPECIAL EVENTS 134506 0 13325 0 0 0 9477 0 1550 0 158858 0 0 0 MICHAEL SPIGLER VP OF EDUCATION 142867 0 15750 0 0 0 4797 0 20011 0 183425 0 0 0 JAMES BAKER JR CEO - EFFECTIVE 8/1/14 208151 0 0 0 0 0 6250 0 1114 0 215515 0 0 0 IRVING A ALEXANDER III CFO 194172 0 40000 0 0 0 6921 0 14286 0 255379 0 0 0 BONUS PAYMENTS SCHEDULE J, PART I, LINE 7 BONUSES ARE PROVIDED TO ENSURE THAT KEY EMPLOYEES WHO PERFORM WELL ARE RECOGNIZED FOR THEIR PERFORMANCE AND RETAINED BY FARE. THE PERFORMANCE OF THESE EMPLOYEES WAS REVIEWED BY MANAGEMENT, INCLUDING THE CEO, AND BONUSES WERE AWARDED APPROPRIATELY. SEVERANCE PAYMENTS SCHEDULE J, PART I, LINE 4A JOHN LEHR SEPARATED FROM FARE AND WAS PAID $124,313 IN SEVERANCE DURING 2014. X 109 FMV X 7870 FMV X 7 125970 FMV X FITNESS/GYM 23 10343 FMV X FASHION/BEAUTY PACKAGES 55 24995 FMV X FOOD/RESTAURANT GIFT CERTIFICATES 21 1826 FMV X SPORTS/SHOWS 4 1601 FMV X VACATION PACKAGES 4 4800 FMV X JEWELRY 18 18541 FMV X OTHER MISCELLANEOUS 25 4433 FMV false false false Reconciliation of Net Assets: Other Change in Net Assets Part XI, Line 9 Net loss from activity reported using equity method for investment in corporation: ($2,672,417) Officer Compensation PART VI, SECTION B, LINE 15 THE ORGANIZATION USES COMPARABLE DATA IN THE INDUSTRY TO DETERMINE COMPENSATION AND COMPENSATION IS VOTED AND AGREED UPON BY THE GOVERNING BODY. Governing Documents Part VI, Section C, Line 19 The Organization's financial statements are available on the organization's website. Any other documents are available upon request. Board Review of the Form 990 Part VI, Line 11B DRAFT OF FORM 990 IS SENT TO THE audit COMMITTEE FOR REVIEW BEFORE IT IS FILED WITH THE IRS. CONFLICT OF INTEREST POLICY PART VI, SECTION B, LINE 12C ALL STAFF, BOARD MEMBERS, OFFICERS AND TRUSTEES ANNUALLY SIGN A FOOD ALLERGY RESEARCH & EDUCATION MANAGEMENT AND STAFF DISCLOSURE STATEMENT WHICH AFFIRMS THAT THEY HAVE RECEIVED A COPY OF THE CONFLICT OF INTEREST POLICY, HAVE READ AND UNDERSTAND IT, AND HAVE AGREED TO COMPLY WITH THE POLICY. IF A CONFLICT OF INTEREST IS DISCLOSED, THE AFFECTED PARTY WILL DISCUSS THE ISSUE WITH THE BOARD OF DIRECTORS. THE BOARD OF DIRECTORS WILL DISCUSS THE ISSUES, CONSULT AN ATTORNEY IF NECESSARY, AND TAKE APPROPRIATE ACTION. APPROPRIATE DISCIPLINARY ACTION WILL BE IMPOSED AGAINST ANY PERSON VIOLATING THE POLICY.