World Bank Community Connections Fund

“The federal form 990 is prepared by outside accountants. Volunteer staff of wbccf reviews the draft form 990 with the board of director's audit committee. A copy of the final draft form 990 is distributed to the entire board of directors prior to its filing with the internal revenue service.”

“The board of directors and volunteer staff of wbccf certify annually any potential conflicts of interest by signing a conflict of interest disclosure statement. Directors and volunteer staff are otherwise responsible for informing the board of directors of any other potential for conflict that might arise during the course of the year. Should a potential conflict of interest arise in a transaction of the board of directors or a committee thereof, upon first knowledge, the interested person is required to disclose the existence and nature of his/her involvement in such transaction as soon as possible or practical. Upon disclosure, the interested person may not participate in consideration of the transaction, except to answer questions prior to its consideration, and does not vote on the transaction. The board of directors or committee then determines whether the transaction or arrangement is still in wbccf's best interests. The minutes of the board of directors or committee considering the transaction involving an interested person contain: the name of the interested person who disclosed a potential conflict of interest; the nature of the interest in the transaction; a record of any determination as to whether the transaction was in the best interest of wbccf, along with the specific reasons supporting such a determination; and the names of the persons who were present for the discussions on the transaction. If any board of directors, committee, or volunteer staff has cause to believe that an interested person has not disclosed an actual or potential conflict of interest, he/she informs the interested person of such a belief and gives him/her a chance to explain that alleged failure to disclose. If, upon further investigation, it is determined that the interested person has failed to disclose, the president of the board of directors is informed immediately, and the board of directors takes appropriate disciplinary or corrective action, including possibly reconsidering whether the transaction remains in the best interest of wbccf and/or recommending removal of the interested person from the board of directors or committee.”

“Wbccf does not have any compensated officers, directors, trustees, or employees. Appropriate policies would be employed in the event of hiring any employees or providing compensation to officers, directors, trustees, or key employees.”

“Wbccf makes its governing documents, conflict of interest and whistleblower policies available to the public upon request. Wbccf posts its audited financial statements, federal form 990 and a narrative annual report on the website of the world bank group's community outreach program, and also makes these documents available upon request.”

“There were no changes from the prior year.”