World Wide Web Foundation

“Tim berners lee and rosemary leith have a family relationship.”

“Minutes are not taken for finance committee meetings, as the cfo presents his financial report and analysis quarterly in the finance committee meetings and that report is maintained by the organization.”

“The form 990 was prepared by the organization's auditors and reviewed by the organization's audit committee in detail, and approved by them. The 990 was then made available to the full board prior to filing with the irs.”

“In connection with any actual or possible conflict of interest, an interested person must disclose the existence of his or her financial interest and all material facts to the directors and members of committees with board-delegated powers considering the proposed transaction or arrangement. After disclosure of the financial interest and all material facts, and after any discussion with the interested person, he or she leaves the board or committee meeting while the determination of a conflict of interest is discussed and voted upon. The remaining board or committee members decide if a conflict of interest exists. An interested person may make a presentation at the board or committee meeting, but after such presentation, he/she leaves the meeting during the discussion of, and the vote on, the transaction or arrangement that results in the conflict of interest. After exercising due diligence, the board or committee determine whether the foundation can obtain a more advantageous transaction or arrangement with reasonable efforts from a person or entity that would not give rise to a conflict of interest.”

“The ceo's compensation was determined by the board of directors. The review included the use of a compensation survey and comparable data. The ceo's compensation was last reviewed in july 2017. Other employee compensation is determined by the ceo based on comparable data and by reviewing compensation surveys conducted by third parties.”

“World wide web foundation makes its governing documents, conflict of interest policy and financial statements available to the public upon request.”

“Maintenance & lease accounting software: program service expenses 7,922. Management and general expenses 5,822. Fundraising expenses 113. Total expenses 13,857. Wf staff contractors: program service expenses 1,184,926. Management and general expenses 291,915. Fundraising expenses 0. Total expenses 1,476,841. External professional fees: program service expenses 791,494. Management and general expenses 156,176. Fundraising expenses 11,827. Total expenses 959,497.”

“On may 25, 2021, the foundation entered into a five-year promissory note agreement in the amount of $97,970 (with a 1% fixed interest rate) under the paycheck protection program (ppp). The promissory note requires 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 may be forgiven by the small business administration in whole or in part. During the year ended december 31, 2021, the foundation spent the full amount of the loan, and accordingly will recognize the entire amount of the loan forgiveness as debt forgiveness when formally forgiven. Additionally, the loan balance has been classified as a current liability in the accompanying statements of financial position, as the loan was forgiven in full on march 23, 2022.”