Digital Green Foundation

“The organization updated its bylaws for the following items: 1) changed term length from 2 to 3 years 2) change from a max of 7 board members to max of 15 3) changes to some officers, in particular: changing so that officers do not have to be board members, removing some officer roles, such as cfo, and collapsing with treasurer role; and 4) more strongly emphasizing electronic communication as the main method of communication.”

“The form 990 was prepared by the outside accountants and reviewed by senior management. The completed form 990 was circulated to the governing body for review, before it was filed with the irs.”

“All directors and officers are required to annually sign a statement affirming that they have received the conflict of interest policy, have read and understand it, and agree to comply with it. If the committee has reasonable cause to believe that an interested person has failed to disclose an actual or possible interest, it informs the interested person of the basis for such belief and affords the interested person an opportunity to explain the alleged failure to disclose. If, after hearing the response of the interested person and making such further investigation as may be warranted in the circumstances, the committee determines that the interested person has in fact failed to disclose an actual or possible interest, it takes appropriate disciplinary and corrective action which may include: a) reconsideration of whether the transaction or arrangement was in the best interests of and was fair and reasonable to the corporation at the time it was undertaken; b) recommending the interested person's removal from the board; and c) any other action.”

“The salaries of officers, if any, will be fixed from time to time by resolution of the board of directors and includes comparable data. Salaried individuals cannot vote on their own compensation. All compensation decisions will be made by a majority vote of disinterested board members. In all cases, any salaries received by officers of the organization will be reasonable and given in return for services actually rendered to or for the organization. A salary survey is used in the ceo's compensation process and the process is documented in the board minutes. The last compensation review took place in april 2021.”

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

“Consulting fees: program service expenses 661,182. Management and general expenses 111,600. Fundraising expenses 0. Total expenses 772,782. Professional fees: program service expenses 363,373. Management and general expenses 139,048. Fundraising expenses 0. Total expenses 502,421.”

“On march 6, 2021, the foundation received loan proceeds in the amount of $213,200 under the paycheck protection program. The promissory note calls for monthly principal and interest payments amortized over the five-year term of the promissory note. Under the coronavirus aid, relief, and economic security act (cares act), the promissory note qualifies for forgiveness by the small business administration in whole or in part. The foundation intends to use the proceeds for purposes consistent with the paycheck protection program, and believes that its use of the loan proceeds will meet the conditions for forgiveness of the loan. As of the date of this report, the foundation has not applied for forgiveness. At such time when after filing for forgiveness and notification is received, the forgiven amount will be recorded as a contribution in the appropriate reporting period.”