Visionspring Inc

“The form 990 is initially reviewed by the organization's finance officer in conjunction with the president. The form 990 is also reviewed with the finance committee of the board of directors. Prior to filing the form 990, a complete draft copy of the form 990 is then electronically provided to the finance committee of the board of directors for review, discussion, and approval. A conference call is typically held with the finance committee membership to ensure all questions related to the form 990 are addressed, and the form 990 is then approved for filing. All board discussions and the final disposition of the form 990 are documented in the board minutes that are retained in the organization's books and records.”

“The organization updated their conflict of interest policy in 2013. The policy covers any director, officer or committee member with powers delegated by the organization's board of directors who has a direct or indirect financial interest with respect to a given transaction or arrangement. An interested person has a financial interest with respect to a given transaction or arrangement if the person directly engages in a transaction or arrangement with the organization, or has, directly or indirectly, through business, investment or family, any of the following: i. An ownership or investment interest in which the organization has a transaction or arrangement ii. A compensation arrangement with the organization or with any entity or individual with which the foundation has a transaction or arrangement, or iii. A potential ownership or investment interest in, or compensation arrangement with any entity or individual with which the organization is negotiating a transaction or arrangement. Compensation includes indirect and indirect remuneration as well as gifts or favors that are substantial in nature. An interested person is required to disclose the existence of a potential conflict of interest to the board and members of committees with board-delegated powers. The interested party leaves the room while the board or board committee reviews and discusses all material facts, and votes upon the existence of a conflict of interest. A majority vote determines if there is a conflict of interest. In addition, the president or committee chairperson may appoint a disinterested person to investigate alternatives to the proposed transaction or arrangement. Following due diligence, the board or board committee will decide if a more advantageous transaction or arrangement that does not give rise to a conflict of interest is attainable. For all actual or potential conflict of interest issues, the minutes of the board and all board committees contain the names of the interested persons, names of persons present for discussion and voting, the content of the discussion, the recording of the votes, and the action taken. Each director, officer and member of a board committee annually signs a statement that attests that the individual has received, read, understood and agrees to comply with the conflict of interest policy. A copy of the disclosure form is retained within the organization's books and records.”

“Compensation data is collected by an independent contractor who provides the organization with comparable data for the ceo and top management officials. The board of directors reviews and approves all compensation arrangements for top leadership such as ceo, president, founder and coo. All other key management positions compensations are approved by the president. All board deliberations and decisions are documented in the board minutes that are kept on file with the organization's books and records.”

“The form 990 is available for public inspection as required under section 6104 of the internal revenue service code as it is posted on guidestar.org and other similar websites. In addition, forms 990 and 1023, as well as the financial statements, articles of incorporation and by-laws are available upon written request of the organization at 505 eighth avenue, suite 12a-07, new york, new york, 10018, or by calling the organization at 212-375-2599.”

“On march 3, 2015, visionspring, inc.'s board of directors agreed to close operations in el salvador, with all operations being suspended on april 28, 2015, the date the liquidation plan was initiated. Liquidation of visionspring el salvador was finalized on september 23, 2015.”

“Rescinded contribution -75,000. Disposal of equipment -6,436.”

“The process for selection of the outside auditors and the oversight of the audit has not changed from the process employed in the prior year.”