Powerpac Foundation

“Andrew wong, a director of the foundation, is married to lisa le, an officer of the foundation.”

“Draft of form 990 was sent to all board members for review and comment.”

“Each employee who is not an insider shall disclose to powerpac foundation's chief executive officer all material facts regarding his or her interest (including relevant affiliations) in any transaction being considered by the board. The employee shall make that disclosure promptly upon learning of the proposed transaction. If there is a question as to whether the employee is an insider, the chief executive officer shall present this issue to the board of directors, and the board shall resolve the matter. Procedures for addressing a conflict of interest: with regard to an employee who is not an insider, the chief executive officer shall ascertain that all material facts regarding the transaction and the employee's conflict of interest have been disclosed, and decide the appropriate response by the organization once a conflict of interest has been determined to exist. With regard to an insider, the board or a board committee shall follow the procedures set forth in article iv in order to decide whether to enter into the transaction and, if so, to ensure that the terms of the transaction are reasonable. In the case of an insider who is a director, the director shall not vote on any transaction in which the director has an interest, and shall not be present during the board or board committee's discussions or determination pursuant to article iv.”

“Key employees are project director and any management staff of fiscal sponsored project. Their compensation are reviewed and approved by their advisory board. As management of fiscal organization,our responsibilities are to ensure that all decisions are approved by the advisory board and that the fiscal sponsored project has the budget for it.”

“Upon request from the public, governing documents, policies and or financial statements are disclosed.”

“Foundation has a resource share agreement with powerpac whereby it reimburses powerpac for the use of powerpac's employee time spent working on charity business. Lastly, powerpac outsource its human resources to emplicity, a third party peo.”