Spark Microgrants Inc

“The form 990 was prepared by the outside accountants and reviewed by senior management. The completed form 990 was provided to the members of the governing body for review before the return was filed with the irs.”

“Annually, each covered person will complete a disclosure statement. A covered person discloses in writing to the committee his or her knowledge of a proposed transaction or arrangement between a related party (related to the covered person) and the organization. The covered person makes this disclosure at his or her first knowledge of the proposed transaction or arrangement and describes his or her understanding of the related party's interest in the proposed transaction or arrangement. If any covered person becomes aware of a concluded transaction or arrangement between the organization and a related party, the covered person discloses in writing fully and promptly to the committee the covered person's knowledge of the related party's interest in the concluded transaction or arrangement. If a covered person is uncertain about the existence of a possible conflict of interest in any matter, the covered person requests that the committee determine whether a conflict of interest exists or could reasonably be construed to exist. A related party makes a presentation to the committee at a meeting of the committee called for the purpose of considering the transaction or arrangement and the related party's interest, but after the presentation, the related party leaves the meeting during the discussion of, and the vote on, such transaction or arrangement. If appropriate, appoint a disinterested person or committee to investigate alternatives to the proposed transaction or arrangement. After due consideration of the relevant factors, the committee determines by majority vote of the disinterested members of the committee whether the transaction or arrangement is in the organization's best interest, for the organization's own benefit, and whether it is fair and reasonable, and therefore whether the organization may or may not enter into such transaction or arrangement. If the committee has reasonable cause to believe a covered person has failed to disclose actual or possible conflicts of interest, it informs the covered person of the basis for such belief and afford the covered person an opportunity to explain the alleged failure to disclose. If, after hearing the covered person's response and after making further investigation as warranted by the circumstances, the committee determines the covered person has failed to disclose an actual or possible conflict of interest, the committee may at its discretion take, or recommend that the organization take, the following measures: - appropriate corrective action including ratifying or nullifying the transaction or arrangement; - appropriate disciplinary and corrective action against the related party and the covered person, including for example termination of employment; and - any other action the committee reasonably deems to be in the best interest of the organization.”

“Spark microgrants has developed a transparent pay scale that takes into account an individual's responsibilties, independence and impact on the organization along with prior experience and time with the organization to set compensation. The board sets the executive director salary and the internal pay-scale is pegged to salary research on size of organization, sector, region, and scope of work. The executive director's compensation is decided and approved by the members of the governing body. This process was documented in the board minutes. The last compensation review for the executive director took place january 2020.”

“The organization makes its governing documents, conflict of interest policy, and financial statements available to the public upon request.”

“Deobligation of funds -100,000.”