The Forge Initiative Inc.

“Two members of the board of directors at 6/30/16 are married to one another. The conflict of interest policy and bylaws are followed to ensure these members recuse themselves from voting on any matters for which a conflict exists. One member of this couple rotated off the board in july 2016.”

“The treasurer delegated to an employee responsibility for maintaining correct books of record. Procedures for delegating responsibility were followed according to the corporations bylaws.”

“During this fiscal year the bylaws were modified to reflect grammatical changes to the treasurers role. Bylaws were also modified to allow officers to formally delegate authority in writing to a person responsible for performing such duties. The individual must be adequately trained in the responsibilities assigned to him or her and competent and skilled in their respective areas of responsibility. Without prior approval of the board this delegation of authority may not be unlimited in duration, allow sub-delegation of authority, or delegate any authority which would normally require board of directors approval (such as spending limits). The board may rescind any delegation of authority at any time.”

“Form 990 is provided to the board of directors prior to filing. Each member has an opportunity to review the document and ask questions before filing the return.”

“The organization requires board members to disclose conflicts of interest; any violations would be dealt with by the remaining board members based on the individual scenario. Employees are supervised by board members such that conflict of interest by employees can be avoided.”

“Board approval is required for determination of compensation. Salaries are based on comparable positions and pay rates.”

“These records are made available upon request.”

“$3000 was paid to each of three individuals for consulting services related to development of the forge underground project.”

“At june 30, 2016, the organization recognized the abandonment of engineering and architectural fees related to a building that the organization intended to purchase. The purchase was abandoned because agreeable financing terms could not be reached. The amount of engineering and architectural fees written off amounted to $63,933.”