International Initiative for Impact

“The standing committees shall include an executive committee and an audit and finance committee. The executive committee shall be composed of the board chair, the chairs of the standing committees of the board, the executive director (in nonvoting, ex officio capacity), and such other board members as may be determined by the board chair in consultation with the currently serving members of the executive committee. The audit and finance committee shall be composed of no fewer than three (3) board members. The finance director of the corporation shall be a nonvoting ex-officio member of the committee. 1. Executive committee: the executive committee shall perform any duties delegated to it by the board and shall have the full power and authority to transact the business of 3ie during periods between board meetings, when in its opinion such business shall be in the best interest of 3ie. Any business conducted or votes taken shall be reported to the full board at its next meeting. The executive committee shall receive such reports as it may deem necessary from any activity or committee of the corporation. Individuals who are not board members may participate in executive committee meetings if the committee so elects, but only in a non-voting capacity. 2. Audit and finance committee: the audit and finance committee shall oversee the work of the corporation's outside auditors and review the corporation's financial statements, annual audits, and such other reports, documents, and transactions it deems necessary in order to assure the proper financial management of the corporation.”

“Members are organizations that are either public governmental agencies or non-profit organizations.”

“The corporation's director of finance prepares the first draft of the form 990 which is reviewed by: an accounting firm, the executive director, the audit and finance committee of the board, and the chairman of the board. The final copy of form 990 is circulated to the full board prior to submission to irs.”

“Board members have received training on 3ie's conflict of interest policy and are annually asked to complete and sign a disclosure statement regarding conflicts of interest. In case any board members have a conflict of interest on any board decisions, they recuse themselves from the decision-making process of that agenda item. The conflict of interest of board members, if any, are duly recorded in board minutes. The board secretary keeps a record of the annual signed conflict of interest declarations of the board members.”

“The compensation of the executive director is determined by the executive committee of the board of commissioners. The committee benchmarked the salary of the executive director in comparison to the similar other organizations. The compensation is approved by the board of commissioners. The compensation of the other officers and key employees is benchmarked to similar other organizations by an independent human resource consulting firm at regular intervals. The compensation is approved by the board of commissioners through the annual budgeting process. The compensation approval for the executive director and other officers was last taken for their compensation effective january 1, 2024.”

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

“Payments made to lshtm and other professional/consulting fees: program service expenses 2,239,195. Management and general expenses 592,335. Fundraising expenses 0. Total expenses 2,831,530.”

“Discount on long term grant receivables 29,708. Uncollectable contribution -233,150. Reversal of subgrant expenses 748,580. Cancellation of grant revenue -748,580. Unrecoverable credit card expense losses -3,798. Exchange loss on grant received -68,904.”