Mission Asset Fund

“The form 990 is prepared by an independent accounting firm, in conjunction with the organization's accounting and finance department. The finance & compliance director, coo, and ceo all initially review a draft of the form 990; adjustments are made, as necessary. A complete copy of the form 990 is provided to all members of the governing body prior to filing with the internal revenue service.”

“Each director, officer, and key employee annually signs a statement affirming such person: (i) has received a copy of the conflict of interest policy; (ii) has read and understands the policy; (iii) has agreed to comply with the policy; and (iv) understands maf is charitable and in order to maintain its federal tax exemption it must engage in primarily in activities that accomplish one or more of its tax-exempt purposes. Additionally, in connection with any actual or possible conflict of interest, an interested person must disclose the existence of the financial interest and be given the opportunity to disclose all material facts to the directors and members of committees with governing board delegated powers considering the proposed transaction or arrangement. After disclosure of the financial interest and all material facts, and after any discussion with the interested person, he or she shall leave the governing board or committee meeting while the determination of a conflict of interest is discussed and voted upon. The remaining board or committee members shall decide if a conflict of interest exists. Should an actual conflict be identified, an interested party may make a presentation at the governing board or committee meeting, but after the presentation, he or she shall leave the meeting during the discussion of, and the vote on, the transaction or arrangement involving the possible conflict of interest. The chair of the governing board or committee shall, if appropriate, appoint a disinterested person or committee to investigate alternatives to the proposed transaction or arrangement. After exercising due diligence, the governing board or committee shall determine whether maf can obtain with reasonable efforts a more advantageous transaction or arrangement from a person or entity that would not give rise to a conflict of interest. If a more advantageous transaction or arrangement is not reasonably possible under circumstances not producing a conflict of interest, the governing board or committee shall determine by a majority vote of the disinterested directors whether the transaction or arrangement is in maf's best interest, for its own benefit, and whether it is fair and reasonable. In conformity with the above determination, it shall make its decision as to whether to enter into the transaction or arrangement.”

“Compensation for the organization's ceo is reviewed and approved by the compensation committee of the board of directors, which utilizes comparability data (including data from compensation surveys/studies) of similarly situated employees in similar organizations/geographic regions. The process is documented in the minutes of the committee meeting. Compensation for other officers/key employees is determined by the organization's ceo, who utilizes comparability data (including data from compensation surveys/studies) of similarly situated employees in similar organizations/geographic regions.”

“The governing documents, conflict of interest policy, and financial statements are available to the public upon request.”

“The organization is filing an amended form 990 for the 2023 tax year to provide additional explanatory language in schedule l, part v regarding the transaction reported in schedule l, part iv. No additional schedules have been changed.”