Comic Relief Inc DBA Comic Relief Us

“Governance and management disclosures the form 990 was prepared by a nationally renowned accounting firm in conjunction with the organization's finance department. The form 990 is provided to the full board of directors for their review and comment prior to its filing with the internal revenue service. In addition, the organization's outside accounting firm presents the form 990 to the full board to enable them to fulfill their due diligence and oversight responsibilities.”

“Comic relief has a robust conflict of interest procedure to ensure that all officers and directors are compliant with the organization's conflict of interest policy. All officers and directors are required to complete an annual questionnaire affirming receipt of the policy, compliance with its directives and to disclose any financial interests in any actual or contemplated transaction that may constitute a conflict of interest. The questionnaire is reviewed for any potential conflicts and should any be discovered addressed by comic relief in such a fashion as to ensure the integrity of the organization's business transactions.”

“Comic relief has a formal process in place for determining the compensation of all employees whose compensation is over $100k (including the executives and highly compensated employees reported on this form 990). Starting in 2020, the audit and risk committee was tasked with reviewing and approving compensation and documenting such decisions as necessary (in committee minute meetings).”

“Comic relief makes its form 990 available to the public by retaining a copy at its place of business and on its website. The form 990 is likewise published on the internet at www.guidestar.org. The organization's financial statements, governing documents and conflict of interest policy will be provided upon request and at management's discretion.”

“Chief financial officer, william kehoe, is not an employee of comic relief inc; his compensation is paid by an executive placement service provider, mile13 llc, that is owned by mr. Kehoe. All compensation reported in part vii represents fees paid to mile13 llc for an array of services, such as accounting, finance, project consulting, staff analysis, and other administrative services provided by mr. Kehoe as chief financial officer.”

“On may 8, 2020, cr us received loan proceeds in the amount of $554,612 under the paycheck protection program ("ppp loan"). The ppp loan, established as part of the coronavirus aid, relief and economic security act ("cares act"), provides for loans to qualifying businesses for amounts up to 2.5 times of the average monthly payroll expenses of the qualifying business. The ppp loan and accrued interest were forgiven in full on july 22, 2021. On march 22, 2021 cr us received loan proceeds in the amount of $586,807 under the paycheck protection program ("second draw ppp loan"). The second draw ppp loan, established as part of the amended coronavirus aid, relief and economic security act ("cares act"), provides for loans to qualifying businesses for amounts up to 2.5 times of the average monthly payroll expenses of the qualifying business. The second draw ppp loan and accrued interest were forgiven in full in april 2022 and will be recognized as revenue on the 2022 form 990. Form 990, part i, line 1, description of organization mission: we harness the power of entertainment to drive positive change, by raising awareness of complex social and economic issues facing children and caregivers living in poverty, and mobilizing the public to act.”

“Rescinded/refunded grants 78,933.”