The Clear Fund

“The form 990 is distributed to the board of directors, electronically, prior to filing for review.”

“As stated in article 9, section 6 of our bylaws: each director, principal officer, and member of a committee with governing board delegated powers shall annually sign a statement which affirms such person: a. Has received a copy of the conflicts of interest policy, b. Has read and understands the policy, c. Has agreed to comply with the policy, and d. Understands the corporation is charitable and in order to maintain its federal tax exemption it must engage primarily in activities which accomplish one or more of its tax-exempt purposes. The board secretary is responsible for enforcing compliance. Signed annual statements are currently on file for all board members from within the last 12 months.”

“The process for compensation review is outlined in article 9, section 5 of our bylaws, available at http://www.givewell.org/about/official-records. This process was followed in full to set the current level of compensation for both key employees (co-executive directors) of the organization. The relevant section of the bylaws reads as follows: a voting member of the governing board who receives compensation, directly or indirectly, from the corporation for services is precluded from voting on matters pertaining to that member's compensation. A voting member of any committee whose jurisdiction includes compensation matters and who receives compensation, directly or indirectly, from the corporation for services is precluded from voting on matters pertaining to that member's compensation. No voting member of the governing board or any committee whose jurisdiction includes compensation matters and who receives compensation, directly or indirectly, from the corporation, either individually or collectively, is prohibited from providing information to any committee regarding compensation. When approving compensation for directors, officers, employees, contractors, and any other compensation contract or arrangement, in addition to complying with the conflict of interest requirements and policies contained in the preceding and following sections of this article as well as the preceding paragraphs of this section of this article, the board or a duly constituted compensation committee of the board shall also comply with the following additional requirements and procedures: a. The terms of compensation shall be approved by the board or compensation committee prior to the first payment of compensation, b. All members of the board or compensation committee who approve compensation arrangements must not have a conflict of interest with respect to the compensation arrangement as specified in irs regulation section 53.4958-6(c)(iii), which generally requires that each board member or committee member approving a compensation arrangement between this organization and a "disqualified person" (as defined in section 4958(f)(1) of the internal revenue code and as amplified by section 53.4958-3 of the irs regulations): 1. Is not the person who is the subject of the compensation arrangement, or a family member of such person; 2. Is not in an employment relationship subject to the direction or control of the person who is the subject of the compensation arrangement; 3. Does not receive compensation or other payments subject to approval by the person who is the subject of the compensation arrangement; 4. Has no material financial interest affected by the compensation arrangement; and 5. Does not approve a transaction providing economic benefits to the person who is the subject of the compensation arrangement, who in turn has approved or will approve a transaction providing benefits to the board or committee member. C. The board or compensation committee shall obtain and rely upon appropriate data as to comparability prior to approving the terms of compensation. Appropriate data may include the following: 1. Compensation levels paid by similarly situated organizations, both taxable and tax-exempt, for functionally comparable positions. "similarly situated" organizations are those of a similar size, purpose, and with similar resources. 2. The availability of similar services in the geographic area of this organization. 3. Current compensation surveys compiled by independent firms. 4. Actual written offers from similar institutions competing for the services of the person who is the subject of the compensation arrangement. As allowed by irs regulation 4958-6, if this organization has average annual gross receipts (including contributions) for its three prior tax years of less than $1 million, the board or compensation committee will have obtained and relied upon appropriate data as to comparability if it obtains and relies upon data on compensation paid by”

“Relevant records are available to the public for download from our public website, at http://www.givewell.org/about/official-records. Such records include: - all available financial statements - our bylaws, which include our conflict of interest policy - our articles of incorporation”

“The clear fund's process for overseeing the audit of the financial statements and the selection of the independent auditor has not changed from the prior years.”