Givedirectly Inc.

“During the tax year 2023, givedirectly uncovered a significant instance in 2022 of our employees colluding to divert mobile money payments for personal gain, resulting in the loss of 0.8% of the cash transfers we delivered globally in 2022. Givedirectly initiated an investigation upon discovering the fraud, resulting in the identification of the employees responsible. We have taken disciplinary and legal action against those involved. Appropriate legal actions have been pursued in an effort to recover the misappropriated funds to limited success. Upon uncovering the employee fraud, a comprehensive financial review has been performed to determine the extent of the fraud and evaluate the effectiveness of the internal controls. Givedirectly took immediate steps to rectify the situation, including: - implementing enhanced internal controls & financial oversight - re-designed the affected project before re-launching - hiring and training a new staff team for drc; and - repaying defrauded recipients. Givedirectly is committed to preventing similar incidents in the future. In response to the fraud, the organization has strengthened its financial controls, hired and onboarded new employees for increased fraud prevention and detection, and established a clear process for reporting and addressing suspected fraudulent activity. Givedirectly is dedicated to transparency and accountability. We have reported this incident to the appropriate authorities and have taken decisive steps to prevent the recurrence of employee fraud. Givedirectly's leadership is committed to upholding our responsibilities of extensive management and financial controls to ensure professional care and due diligence in all activities.”

“The initial members of the corporation shall be michael faye, jacquelline fuller, aly jeddy, paul niehaus, and rohit wanchoo.”

“Members have the power to elect, remove or suspend the directors of the organization.”

“Certain governance decisions are subject to the approval of statutory members.”

“Qualified and authorized person shall review the annual form 990 return, prepared by its third party tax accountants, under the direction of the board. The return shall be presented to all board members for approval, either via e-mail or by paper copy, prior to its filing.”

“Each director, principal and officer, shall annually review the conflicts of interest policy and disclose any known conflicts. If there is a potential violation, if the board or committee has reasonable cause to believe that a member has failed to disclose any actual or possible financial conflict of interest, the board member will be afforded an opportunity to explain the alleged failure for to make such a disclosure and if determined to be a violation the board shall take disciplinary, corrective or other action to be determined by the majority of the disinterested members of the board.”

“The process for determining compensation of top management and key employess is covered in gd org wide compensation policy. All top managmentand key employees include a review by the treasurer and the rest of the board, as well as a benchmarking using birche's compensation aggregator of similar positions and salaries of of organizations of similar size. The birches database includes levels and salary data across organizations in 150 different countries.”

“The organization makes its governing documents, conflicts of interest policy, and financial statements available to the public upon written request. Financial statements and form 990s are available on the website. Additionally the state of ma has publicly available, all work filings, including articles of organization and annual reports.”