Innovation Africa

“The organization contracted innovation: africa israel, ltd. ("ia israel"), for administrative services. The services included program management, coordination of activities, and general management services. The organization paid expenses in the amount of $4,384,443 to ia israel during the tax year. Sivan ya'ari, ceo, was compensated 402,900 (israeli shekel) by ia israel in 2024 for services provided to the filing organization. Additionally, the organization contracts with ab yaari ltd. For management services. These services include initiation of projects to be undertaken by innovation: africa, hiring and termination of the employees of the organization, public relation services, fundraising, grant applications, and mangement of the organization's resources.”

“The form 990 is prepared by an outside accounting firm. It then provided to the ceo, cfo, and chairman of the board for their review. Once this is complete, all members of the organization's board of directors are provided a complete copy of the form 990 with sufficient time for their review prior to filing.”

“The conflict of interest policy is applicable to all board members, officers and employees. An interested person must disclose the existence of any potential or actual conflict of interests to the audit committee. If a conflict arises, the audit committee and when necessary, the entire board will determine whether the transaction at hand aligns with efforts in caring for our beneficiaries, serving the community, and succeeding in the social services arena. Annually, all interested persons must sign a statement of affirmation stating that they have received a copy of the conflict of interest policy, and agree to abide by it.”

“The organization makes its form 990 available for public inspection as required under section 6104 of the internal revenue code. The return is posted on new york state attorney general website, guidestar.org, and other similar types of websites. In addition, the financial statements, conflict of interest policy, articles of incorporation and by-laws are also available upon written request.”

“Net assets of related corporation included in consolidated financial stmts 271,197. Expenses attributed to consolidated entities -128,044. Loss on disposal of fixed assets 58,149.”

“The organization has an audit committee that assumes responsibility for oversight of the audit of its financial statements and selection of an independent accountant. This process did not change from the prior year.”