Ecumenical Development Corporation USA

“Consistent with best practices, in 2013 and 2014 ecumenical development corporation, usa ("edc-usa") undertook a comprehensive review and revision of its bylaws. The purpose of this project was to ensure the bylaws reflected applicable law, best practices for exempt organizations, and the current governance practices of edc-usa. In summary, this review resulted in the following revisions: (i) removal from the bylaws of provisions duplicative of provisions included in edc-usa's articles of incorporation; (ii) revision of certain bylaws' provisions to ensure the bylaws more completely reflected the corresponding provisions of the illinois not-for-profit corporation act; (iii) the addition of more robust provisions regarding officers and administrative staff; and (iv) the addition of sections covering committees and advisory bodies, certain financial matters, electronic notice, and indemnification. The bylaws also now include a bylaws certificate. These changes were undertaken as previously edc-usa had a relationship with the usa office of the world council of churches (wcc). It was the world council of churches based in geneva that founded oikocredit in 1975. Thus here in the us, oikocredit had an affiliation with the usa office of the wcc in new york. This affiliation meant several things. For board members, the usa wcc office would check on membership to insure women and minorities were on our board. And in the event of a collapse of oikocredit, assets would be passed to the usa office of the wcc because at that time when the bylaws were written we had to revert assets to a non-profit like ours and so we chose the wcc office here. Both of these and other references to the wcc usa office were included in our previous bylaws. What changed is that the wcc office in the us closed and the organization no longer exists. Because of this we had to revise our bylaws to take out references to the wcc and are now going to be relying on more public support. These have been filed with the irs. 1. Amended and restated prospectus for oikocredit global community notes 2. Agreement of cooperation between edc-usa and ecumenical development cooperative society 3. Amended edc-usa by-laws 4. Edc-usa restated articles of incorporation”

“Certain decisions may be subject to ecumenical development cooperative society, u. A.'s (edcs-ua) approval.”

“990 is emailed to officers for review with approval request.”

“The conflict of interest policy covers all members of the board, its committees and all officers and is monitored by annual written confirmations which are reviewed and maintained by board of directors. The entire board reviews each transaction to come before the board for potential or actual conflicts of interest. If potential or actual conflicts are identified, they are documented in the minutes and persons with conflicts are rescued from deliberations and voting.”

“The process for determining compensation of the following persons includes a review and approval by independent members of the entire board. Comparability data used in the review process is obtained from guidestar and peer group non-profit organizations.”

“Documents are provided by request.”

“The process has not changed.”