Kpmg U S Foundation Inc

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

“As a charitable organization, KPMG US Foundation, Inc. (the "Foundation") has a special obligation to uphold the public trust. Every director, officer, committee member and key staff member of the Foundation shares responsibility to ensure that the Foundation satisfies all legal requirements and operates in accordance with its charitable mission. This obligation requires that any individual who has authority to make decisions on behalf of the foundation, such as a director, officer, committee member or key staff member, take steps to inform the board of directors of any personal interest he or she might have in a transaction or contract between the foundation and a third party. Whenever any director, officer, committee member or key staff member of the foundation becomes aware that the foundation is considering (or has considered) a transaction that potentially creates a conflict of interest, he or she is obligated to notify the board of directors and to disclose all material facts relating to his or her interest in the transaction. the board of directors will determine whether an actual conflict of interest exists and take action that the board deems appropriate. the interest person may not be present when the board makes its determination other than to answer questions. If the Board of Directors determines that a transaction would create a conflict of interest, the transaction must be approved in advance by only those Board members who do not have a conflict with respect to the transaction. Any interested person therefore must recuse him or herself from consideration of the transaction. He or she may not vote on the transaction or be present when the vote is taken. Furthermore, he or she may not be present during any discussion of the transaction other than to answer questions as needed. Interested persons, however, may be counted for the purpose of determining whether a quorum exists at the meeting even though they are temporarily absent while the transaction is considered. The minutes of any meeting at which a conflict of interest transaction is considered must reflect that the interested person made adequate disclosures, withdrew from consideration of the transaction and abstained from voting. the minutes must detail the terms of the transaction, the date the transaction was approved, the board tnernbers present during the debate and who voted on the transaction, any data the Board relied upon in determining that the transaction is reasonable and in the best interests of the Foundation, how such comparability data was obtained, the disclosures made by the interested person, and whether the interested person otherwise participated in any discussions or proceedings, i.e., to answer questions. As with all minutes, the minutes documenting a conflict of interest transaction must be reviewed and approved by the Board at its next meeting. Each director, officer, committee member ancd key staff member must annually sign an acknowledgement which affirms that such person: (a) has received a copy of this Conflict of Interest Policy, (b) has read and understands this Policy, and (c) has agreed to comply with this Policy. Additionally each director, officer, committee member and key staff member must annually sign a disclosure statement listing various relationships ancl financial interests that he or she has.”

“the organization makes its form 990 available for public inspection as required under section 6104 of the internal revenue code. the return is made available 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 can be obtained upon written request or by calling the organization directly.”

“THE PURPOSE OF THE KPMG U.S. FOUNDATION, INC. IS TO OPERATE FOR CHARITABLE, LITERARY, SCIENTIFIC, RELIGIOUS OR EDUCATIONAL PURPOSES BY MAKING DISTRIBUTIONS TO OTHER ORGANIZATIONS FOR USE, BY THE DISTRIBUTEES, IN SUPPORT OF SUCH PURPOSES. in response to the september 11, 2001 terrorist attacks on the united states, the statement of purpose of the foundation 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 U.S.Foundation (formerly the kpmg disaster relief fund) 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 U.S. FOUNDATION (kpmg disaster relief fund) to be invested in common with other funds maintained by the KPMG U.S. Foundation (KPMG Disaster Relief Fund)as a separate entity (new York fund) on the KPMG U.S. FOUNDATION'S books and records. future contributions will be sent directly to the kpmg U.S. FOUNDATION restricted to the new york fund.”

“Designated by donors in matching gift program -3,983,917.”

“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.”