Grassroot Soccer Inc.

“The assistant controller prepared the schedules for the form 990, which were reviewed and approved by the board treasurer. The outside accounting firm prepared the form 990 and it was then reviewed by the board treasurer. A copy of the final return was presented to the board prior to filing with the irs.”

“A conflict of interest policy statement is required to be completed annually by directors and employees. If a conflict of interest is disclosed or discovered, the board reviews the conflict and determines if the arrangement is appropriate or if further changes need to be made.”

“The ceo compensation review process was led by the board chair. An independent third party, fellow board members and staff were consulted during the evaluation process. Public information from comparable non-profit organizations was used to ensure reasonable compensation. A performance feedback report was presented to the ceo and salary change documentation was given to the human resource department. The last compensation review took place in may 2021.”

“The organization makes its governing documents, conflict of interest policy, and financial statements available upon request. A copy of its annual report, including financial statements, is posted on its website www.grassrootsoccer.org.”

“Casual wages: program service expenses 35,277. Management and general expenses 1,000. Fundraising expenses 1,260. Total expenses 37,537. Coaches wages: program service expenses 249,366. Management and general expenses 7,072. Fundraising expenses 8,910. Total expenses 265,348. Contract labor: program service expenses 292,919. Management and general expenses 8,307. Fundraising expenses 10,466. Total expenses 311,692. Consulting fees: program service expenses 115,298. Management and general expenses 3,270. Fundraising expenses 4,120. Total expenses 122,688.”

“Currency translation loss -80,659.”

“On april 23, 2020, grs received loan proceeds in the amount of $412,900 under the paycheck protection program. The promissory note calls for monthly principal and interest payments amortized over the term of the promissory note with a deferral of payments for the first six months. Under the coronavirus aid, relief, and economic security act (cares act), the promissory note may be forgiven by the small business administration in whole or in part. During the year ended december 31, 2021, grs expended and tracked the ppp funds for purposes outlined in the cares act guidance and met all conditions set forth for forgiveness. On february 19, 2021, the loan was forgiven and grs recorded revenue from debt extinguishment in other items on the combined statement of activities and change in net assets. On april 5, 2021, grs received loan proceeds in the amount of $229,096 under the paycheck protection program. The promissory note calls for monthly principal and interest payments amortized over the term of the promissory note with deferral of payments for the first twelve months. During the year ended december 31, 2021, grs used the proceeds for purposes consistent with the ppp, and applied for forgiveness. On november 16, 2021, the loan was forgiven and grs recorded revenue from debt extinguishment in other items on the combined statement of activities and change in net assets.”