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 draft of the form 990 was reviewed by the audit committee at a meeting held in September 2020 prior to the Elevate Ventures board meeting. After review by the audit committee, the final draft 990 was distributed via email to the board of directors. A hard copy was also provided at a board meeting held on September 24, 2020 to all present to all board members.”

“Every board member, officer and employee is required to sign annually a Conflict of Interest Statement disclosing actual or potential conflicts of interest with the organization. The Compliance Officer has been appointed by the Board to review the disclosure statements and ensure compliance with the Conflict of Interest Policy. Additionally, each board member, officer, and employee is required to disclose actual and potential conflicts of interest in advance of the completion of the organization's investment transactions through Elevate 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 and staff must disclose the conflict or potential conflict to the compliance officer and abstain from any decision-making as it pertains to the conflict.”

“During 2016, 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: 739800, Program Service Expense: 592332, Management and General Expenses: 147468, Fundraising Expenses: ; Payroll Processing - Total Expense: 5544, Program Service Expense: 4439, Management and General Expenses: 1105, Fundraising Expenses: ;”