Debt Education and Certification Foundation

“The form 990 is prepared by the outside accountant and reviewed by senior management, with the assistance of legal counsel. A final copy of the return was provided to the board of directors before submission to the irs.”

“The foundation has a conflict of interest policy. This policy serves to define the term conflict of interest of the board, officers, and key employees in identifying and disclosing such conflicts, and to minimize the impact of such conflicts on the foundation and the fulfillment of its mission whenever possible. The policy is intended to supplement, but not replace, any applicable state and federal laws governing conflict of interest applicable to nonprofit and charitable organizations. Pursuant to the policy, the foundation requires all board members and key employees (covered officials) to disclose any actual or potential transaction or relationship which presents, or may present, a conflict between a covered official's obligations to the foundation and his or her personal, business, or other interests. This is accomplished through an annual disclosure process and review of the foundation's conflict of interest policy. This is also accomplished by the relevent individual notifying the board whenever an actual or potential conflict arises. The policy specifies procedures for the board to follow when addressing a potential conflict of interest. Under the policy, if the board determines that an actual or potential conflict of interest does exist, the board shall also determine an appropriate remedy. Such remedy may include, for example, the recusal of that individual from participating in certain matters pending before the board. A covered official whose potential conflict is under review may not debate, vote, or otherwise participate in such determination except to disclose material facts and to respond to questions, and further abstains from participation in any foundation matter affecting the interest under review pending a determination.”

“The foundation followed the rebuttable presumption of reasonableness under the intermediate sanction rules set forth in the treasury regulation 53.4958-6 to establish and approve total remuneration to mr. Allen, president and ceo (from 1/1/2023 - 4/30/2023), and doug tonne, coo (from 1/1/2023 - 4/30/2023) and president and ceo (starting 5/1/2023). The foundation used a similar compensation review process for other officers and key employees. Prior to establishing the compensation to be provided to the foundation executives, officers and key employees, the foundation's compensation committee met in consideration of the compensation, following the foundation compensation policy. The compensation committee considered an executive compensation report and recommendation letter to the board of directors from a previous year. The foundation possesses no information indicating that the results of the compensation report and recommendation letter are no longer valid. The board of directors, exclusive of mr. Allen, mr. Tonne, and other key employees and officers, voted and approved the recommendations of the compensation committee.”

“The compensation review was conducted november of 2023 by the compensation committee members, bill pardue and mark borge and was recorded in the minutes of that meeting. The process for the compensation review follows the procedures set forth in the treasury regulation 53.4958-6 (the "rebuttable presumption of reasonableness"). These procedures include: approval by an independent body, appropriate data as to comparability, adequate documentation in contemporaneous written form with adequate time for consideration and review.”

“No documents available to the public”

“Attachment 1 - part iii, line 1 - organization's mission - debt education and certification foundation's mission is to strengthen the community by providing financial education to individuals and families in need. Course content and counseling covers financial education topics such as budgeting, money management, wise use of credit, and provides the individual with available options to address their specific financial situation. Counseling is provided to individuals in english or spanish to meet the cultural diversity and needs of the community without regard to one's ability to pay. The foundation does not offer, nor provide, debt management plans, debt negotiation or debt settlement services.”

“Attachment 2 - part iii - program service, line 4a - debt education and certification foundation provides financial education counseling to individuals throughout the bankruptcy process across the united states and the united states territories. Services totaling $22,060 were provided free of charge. The certified credit counselors complete internal training and receive certification as a credit counselor from unaffiliated outside organizations. Certified credit counselors also receive call audits to ensure compliance with organization guidelines and adherence to other regulatory mandates. The counseling covers a variety of topics to aid the individual including: cause of financial distress, budgeting, money management, wise use of credit, consumer protection laws and provides individuals with available options to address their specific financial situation. Consumers also receive instruction through online or telephonic resources designed to provide the individual with tools and knowledge to improve money management skills.”