The Omidyar-Tufts Active Citizenship Trust

“PIERRE M. OMIDYAR & ROBINSON JACOBS - Business relationship”

“The trustees of tufts college's in-house tax department prepared the tax return. A comprehensive draft form 990 was submitted for review by management. The return was then provided to the full governing body prior to filing the return with the irs.”

“The omidyar-tufts active citizenship trust (the trust), being a related organization of trustees of tufts college (tufts), adheres to the same tufts compliance policy for conflicts of interest disclosures. Regarding the trust governing body, two of the trustees are current members of tufts governing body and the chief investment officer and director of investments of the trust are also the chief investment officer and director of investments for tufts. The director of investments of the trust is also a highly compensated employee for tufts. After the fiscal-year end, all officers, highly compensated employees, key employees and governing board members are provided with an electronic annual disclosure questionnaire form which is used to reveal conflicts of interest. Each member is required, after reading the conflict of interest policy, to disclose any potential conflicts that may exist with the organization or a related organization in a statement that is electronically signed and dated. Additionally, for all other remaining disclosable persons, including the other trustees, the same request for conflicts of interest disclosures is made prior to the filing of the form 990. As part of the annual monitoring process, conflict disclosures are reported to the tufts audit committee, via the tufts executive vp or tufts secretary of the corporation. The audit committee is notified and reviews such disclosures and advises any actions. Thereafter, if a disclosure is deemed to be a conflict, the individual would then confirm that they will not participate in any decisions relating to the specific disclosed conflict.”

“In addition to the governing board of trustees, the omidyar-tufts active citizenship trust(the trust) has one key employee, tryfan evans, director of investments, who manages the daily investment operations of the trust. As an employee of trustees of tufts college his compensation is paid directly by trustees of tufts college. The trust reimburses trustees of tufts college as part of the operating costs of the trust. The process for determining compensation includes using compensation surveys and comparable local market data which is maintained by human resources.”

“The omidyar-tufts active citizenship trust makes its governing documents, conflict of interest policy and financial statements available to the public. All are available upon request. Additionally, the company's audited financial statements and its conflict of interest and business conduct policies are available upon request by contacting, via email, the tufts university, executive director of public relations at [email protected].”

“A) trustee's name: anthony p. Monaco b) name of related organization: trustees of tufts college c) relationship between organizations: supported organization d)compensation description: anthony p. Monaco is the current president of the university. He serves as a member of the board of trustees for the trustees of tufts college. He is also compensated by the trustees of tufts college for that role. A) key employee's name: craig w. Smith b) name of related organization: trustees of tufts college c) relationship between organizations: supported organization d)compensation description: craig w. Smith , the trusts' chief investment officer - start date date 4/16/2021, is a full time employee of the trustees of tufts college. He also serves as the trustees of tufts college cio and is compensated by the trustees of tufts college for that role. A) key employee's name: sally dungan b) name of related organization: trustees of tufts college c) relationship between organizations: supported organization d)compensation description: sally dungan , the trusts' chief investment officer - end date 4/12/2020, was a full time employee of the trustees of tufts college. She also served as the trustees of tufts college cio and was compensated by the trustees of tufts college for that role. A) key employee name: tryfan d. Evans b) name of related organization: trustees of tufts college c) relationship between organizations: supported organization d) compensation description: tryfan d. Evans, director of investments, works full time on the daily investment operations of the trust. However, he is an employee of the trustees of tufts college (tufts) and is compensated by tufts. He also participates in an incentive plan for both tufts and the trust. A) highest compensated employee name: saheba sahni b) name of related organization: trustees of tufts college c) relationship between organizations: supported organization d) compensation description: saheba sahni, senior investment associate, works full time on the daily investment operations of the trust. However, she is an employee of the trustees of tufts college (tufts) and is compensated by tufts. She also participates in an incentive plan for both tufts and the trust.”

“Tryfan d. Evans, the omidyar-tufts active citizenship trust director of investments is compensated as an employee of the trustees of tufts college. However, his salary and benefits have been charged to the omidyar-tufts active citizenship trust as tryfan services the trust in a full-time capacity. His compensation is also listed as an operating cost on part ix, statement of functional expenses. Saheba sahni, the omidyar-tufts active citizenship trust senior investment associate is compensated as an employee of the trustees of tufts college. However, her salary and benefits have been charged to the omidyar-tufts active citizenship trust as saheba services the trust in a full-time capacity. Her compensation is also listed as an operating cost on part ix, statement of functional expenses.”

“CRAIG W. SMITH, CHIEF INVESTMENT OFFICER - START DATE 4/16/2021 - Craig W. Smith, having replaced Sally Dungan, deceased and former Chief Investment officer, has maintained a key senior role within the investment office prior to his official appointment as Chief Investment Officer on 4/16/2021. SALLY DUNGAN (DECEASED) - CHIEF INVESTMENT OFFICER UNTIL DATE ENDING 4/12/2020.”

“The purpose of the fund is to support, benefit, and carry out the purposes of its public charity beneficiaries, including the Trustees of Tufts College, by making investments that have an impact on a range of societal challenges by empowering people to accelerate positive change. During the year ended June 30, 2021, the Omidyar-Tufts Active Citizenship Trust disbursed $13.6 million in investments. At June 30, 2021 the fund had made 28 investments and $191 million in commitments since inception. To date, the fund has provided investment capital in North America, Latin America, Africa, Eastern and Central Europe and Central Asia. The fund currently has investments in 54 countries. The sectors in which the Trust invests are currently as follows: (a) Economic Inclusion: including, but not limited to, financial inclusion (microfinance, microinsurance, payments & remittances, etc.), enabling small- and medium-sized enterprises, community development, entrepreneurial ecosystems, and economic resilience; (b) Health & Wellness: including, but not limited to, healthcare services & delivery, drug development and biotechnology, wellness & healthy lifestyles, and addressing environmental & social determinants of health; (c) Real Estate: including, but not limited to, affordable housing, workforce housing, and community institutions (e.g., schools; medical facilities); (d) Education: including, but not limited to, early childhood & k-12 education, workforce training, education technology, educator training, student finance, and personalized & adaptive learning; (e) Access to Energy & Natural Resources: including, but not limited to, clean water & water rights, distributed power generation and grid and off-grid energy access. (f) Social Institutions: including, but not limited to, internet privacy & digital rights, technology that increases accountability and transparency, and tools that enable and empower civic engagement.”

“The omidyar-tufts active citizenship trust does not have its own employees. The salary expense reported in the statement of functional expenses represent an expense reimbursement to the trustees of tufts college for use of its employees.”

“The omidyar-tufts active citizenship trust does not have any unrelated business gross income of $1,000 or more. However, in order to meet its disclosure requirements, a form 990-t is filed with the irs as a result of the various foreign investments held during the fiscal year.”