Grassroots Business Partners Inc

“The following directors of the organization are also investors in a related partnership, grassroots business investors i, lp: andrew adelson and harold rosen. Each of these directors contributed capital to the partnership and received a corresponding investment interest in the partnership. None of the investors have a voting interest in nor do they receive compensation from grassroots business investors i, lp.”

“The organization does not have any committees with authority to act on behalf of the governing body.”

“The prepared form 990 is submitted to the members of the governing body for review and approval before the return is filed with the irs. At the request of the governing body, a representative of the independent accounting firm may attend a meeting of the governing body to answer questions related to the financial condition of the organization.”

“The organization currently has a conflict of interest policy that covers all employees and the members of the governing body. The organization's conflict of interest policy was reviewed and approved by the members of the governing body. The organization requires each member of the governing body to sign a conflict of interest disclosure form on an annual basis. The form requires that any current or potential conflicts of interest be disclosed. Should a potential new conflict be disclosed, it is reviewed at either the governing body or senior management level to determine whether it is an actual conflict. If it is deemed a conflict of interest, the employee or director is excluded from any decision-making meetings and decisions relating to the transaction.”

“The members of the governing body review and approve the general structure of the organization's compensation as well as the specific compensation of the management team. The governing body governs compensation and bonus administration. The governing body decides the general level of compensation for all staff. Staff is compensated based on industry averages and then compensation is approved by management. Management's compensation is evaluated annually and approved by the governing body. The most recent review of management compensation took place in june 2017, utilizing performance as well as comparable data to determine the final level of compensation for managers. All full time employees are eligible for a bonus equal to a maximum percentage of their gross annual base salary as determined in their written employment contract. The members of the governing body review the overall allocation of bonuses and in detail determine and approve the bonuses for management.”

“The organization made its governing documents, conflict of interest policy, and financial statements available to the public upon request. Additionally, financial statements were published in the annual report.”

“Grassroots business fund (gbf), a brand of entities, delivers a distinctive blend of investment capital and business advisory services through two main vehicles working together: a private investment fund and a non-profit organization. Through the fund, grassroots business investors i, lp (gbi-i), gbf makes equity, mezzanine equity, mezzanine debt, and straight debt investments. These customized investment structures ensure that gbf's investment performance aligns with the businesses' performance. The fund delivers a form of capital suitable for long-term investment in businesses servicing low income communities. In tandem, the non-profit organization, grassroots business partners, inc. (gbp), provides business advisory services to clients in the fund. Gbf's staff, expert consultants, and local service providers focus on enhancing financial and strategic planning, corporate governance, human resource management, marketing, supply chain management, and management information systems. Additionally, gbp manages the investment fund, and the developing additional tools and activities to both assist the field with knowledge and also provide possible future activities for gbp.”

“Consulting: program service expenses 4,979,525. Management and general expenses 28,962. Fundraising expenses 0. Total expenses 5,008,487.”

“Foreign currency translation loss -93. Loss on disposal of fixed asset -15,062.”