Newdeal

“The bylaws were amended during summer 2023. Significant changes helped clarify: number of board members, qualifications for board membership, and term limits. Other changes were made to ensure consistency with operational practices.”

“The form 990 was prepared by the outside accountants and reviewed by the organization's treasurer and ceo/secretary for accuracy. All directors were provided a copy of the form 990 prior to filing with the irs.”

“Newdeal has a conflict of interest policy as part of its bylaws. Every director receives a copy of the bylaws upon appointment to the board, and the board of directors reviews the bylaws annually. In connection with any actual or possible conflict of interest, an interested person must disclose the existence of the financial interest and be given the opportunity to disclose all material facts to the directors and members of committees with governing 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/she leaves the governing 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. After exercising due diligence, the governing board or committee determines whether the corporation can obtain with reasonable efforts a more advantageous transaction or arrangement from a person or entity that would not give rise to a conflict of interest. If a more advantageous transaction or arrangement is not reasonably possible under circumstances not producing a conflict of interest, the governing board or committee determines by a majority vote of the disinterested directors whether the transaction or arrangement is in the corporation's best interest, for its own benefit, and whether it is fair and reasonable. In conformity with the above determination, it makes its decision as to whether to enter into the transaction or arrangement. The minutes of the governing board and all committees with board delegated powers contain the records of proceedings.”

“The ceo's compensation is reviewed by the board of directors. Documentation of the deliberation and decision is recorded. The last compensation review process took place in january 2024.”

“The organization will provide all documents required to be made public upon request.”

“Newdeal and the newdeal forum, a 501(c)(3) organization not related for tax purposes, have a cost sharing arrangement where the forum reimburses newdeal for its allocable portion of shared expenses, including officer compensation. During the year ended may 31, 2024, the forum reimbursed newdeal $87,228 for ceo time spent on the 501(c)(3).”

“Outside contract services: program service expenses 231,617. Management and general expenses 0. Fundraising expenses 25,000. Total expenses 256,617.”