Kpmg U S Foundation Inc

“The form 990 is prepared by an outside accounting firm. Ten days prior to filing a final draft copy is provided electronically to the board members for their review.”

“The organization makes its form 990 available for public inspection as required under section 6104 of the internal revenue code. The return is posted on guidestar.org and other similar types of websites. In addition, the financial statements, conflict of interest policy, form 990, form 1023, and by-laws are also available upon written request or by calling the organization directly.”

“Bernard j. Milano acts as president of each of the following entities: kpmg foundation, the phd project, and the kpmg disaster relief fund. He spends approximately 75%, 20%, and 5% of his time on the respective organizations. As president of these entities he receives no compensation. His compensation is paid by kpmg, llp which is not a related organization.”

“The purpose of the kpmg disaster relief fund (fund) is to provide a vehicle for partners and employees of kpmg llp (kpmg) to assist colleagues who have an immediate financial need and/or permanent financial loss resulting from a natural disaster. The fund will achieve its objective by collecting voluntary contributions from partners, employees, retirees and others. The fund may also accept contributions from kpmg or from affiliated entities. Amounts will be distributed to disaster victims acording to the fund's policies and procedures. In addition to providing disaster assistance to kpmg partners and employees, the fund may also make contributions to other 501(c)(3) organizations. Generally, such contributions to a public charity will be in response to a need caused by a natural disaster. In response to the september 11, 2001 terrorist attacks on the united states, the statement of purpose of the fund was amended to allow it to collect voluntary contributions from kpmg and its partners, employees, and retirees, and from any other individual or entity, and distribute such contributions to other qualified organizations to provide benefit to survivors and families of the victims of the september 11, 2001 terrorist attacks, or any such tragedies in the future. In response to the december 2004 tsunami that devastated the far east, the statement of purpose of the fund was amended to allow it to collect voluntary contributions from kpmg and its partners, employees and retirees, and from any other individual or entity, and distribute such contributions to qualified international charitable organizations. Effective march 31, 2011, the kpmg disaster relief fund (drf) entered into an agreement to administer the new york fund (formerly the kpmg new york foundation) at which time all funds held in the kpmg new york foundation account were transferred to the kpmg disaster relief fund to be invested in common with other funds maintained by the drf as a separate entity (new york fund) on the drf's books and records. Future contributions will be sent directly to the kpmg disaster relief fund restricted to the new york fund.”

“The organization has a committee that assumes responsibility for oversight of the audit of its financial statements and selection of an independent accountant. The process has not changed from the prior year.”