Elevate Ventures Inc.

“The CEO has the authority to hire and set initial and ongoing compensation of other officers and key employees. The board is made aware of staff reviews, salaries, bonuses, and benefits on an annual basis.”

“There are no committees with authority to act on the behalf of the governing body.”

“The form 990 was reviewed in detail by the CFO and CEO. A final draft of the full form 990 was reviewed by the audit committee and subsequently provided to the full board of directors prior to filing with the Internal Revenue Service.”

“Every board member, officer and employee is required to sign annually a Conflict of Interest Statement affirming that each such person (1) has received a copy of the Conflict of Interest policy, (2) has read and understands the Policy, (3) has agreed to comply with the Policy and (4) understands that Elevate Ventures is a charitable organization and that in order to maintain its federal tax exemption it must engage primarily in activities which accomplish one or more of its tax-exempt purposes. The Compliance Officer has been appointed by the Board to review the annual statements and to ensure ongoing compliance with the Policy. Additionally, as a supplement to the requirements of the Policy, Elevate takes the elective step to require each board member, officer, and employee to disclose actual and potential conflicts of interest in advance of the completion of each of the organization's investment transactions through Elevate Ventures and its subsidiary entities. In the event that there are conflicts of interest that arise that are not related to the organization's investment activities, the board members, officers and employees must disclose the conflict or potential conflict to the Compliance Officer and abstain from any decision-making as it pertains to any such conflict.”

“During 2017, the board retained the services of an outside independent consultant to conduct a market comparison that provides comparability data for similarly qualified persons at similar organizations. Annually, the compensation package of the chief executive officer is reviewed by the organization's independent compensation committee and is then reported to the board of directors for approval. Any board member with a conflict of interest was not involved in the deliberations or approval. The salary review process is contemporaneously documented in the minutes.”

“Financial statements, governing documents, and conflict of interest policies are not required disclosures pursuant to internal revenue code (IRC) Section 6104. These documents are not available to the public at this time.”

“Consulting Fees - Total Expense: 366123, Program Service Expense: 301901, Management and General Expenses: 64222, Fundraising Expenses: ; Payroll Processing - Total Expense: 4958, Program Service Expense: 4088, Management and General Expenses: 870, Fundraising Expenses: ;”