Sustainability Accounting Standards Board

“In accordance with common practice in the nonprofit community, the Board delegates certain matters to various Committees which are empowered to act between board meetings if necessary, and sometimes with specifically delegated authority to act in particular areas on behalf of the full board. The composition of the various committees includes certain members of the organization's board.”

“Director Robert Herz is on the board for Morgan Stanley and Director Audrey Choi is an employee of Morgan Stanley. Curtis Ravenel and Mary Schapiro both worked for Bloomberg LP and Bloomberg Philanthropies (a separate entity) is a major funder of SASB.”

“During 2018, some updates were made to the bylaws to better define the processes between the Foundation Board, Standards Board, and staff.”

“Form 990 is prepared by an outside tax professional. The form is then reviewed bythe organization's management, a member of the board of directors, and the president. This group of individuals then discusses the contents of the return with the outside tax professional. After a full review, the final version of the tax return is provided to all members of the organization's voting body. A representative of management authorizes the final form 990 which is then e-filed with the internal revenue service.”

“MEMBERS OF THE BOARD OF DIRECTORS REVIEW ALL POTENTIAL CONFLICTS OF INTEREST ATLEAST ANNUALLY. ALL PERSONNEL AND BOARD MEMBERS ARE REQUIRED TO DISCLOSE (INWRITING) POTENTIAL CONFLICTS AND ANY RELATED PARTY AFFILIATIONS. loans from the organization to management or directors are prohibited. THE ORGANIZATION SEEKS FULL TRANSPARENCY ON ALL RELATIONSHIPS. ANY POTENTIAL CONFLICTS (IN FACT OR APPEARANCE) ARE DISCUSSED OPENLY AND RESOLVED IN ACCORDANCE WITH THE ORGANIZATION'S POLICIES AND PROCEDURES.”

“The compensation committee of the board REVIEWs THE COMPENSATION OF ALL HIGH-LEVEL PERSONNEL PERIODICALLY IN ACCORDANCE WITH IRS RULES AND REGULATIONS. EFFORTS ARE MADE TO SECURE COMPENSATION DATA FROM INDUSTRY SOURCES IN ORDER TO DETERMINE COMPETITIVENESS AND APPROPRIATENESS OF SALARIES. EVERY EFFORT IS MADE TO ENSURE THAT THE PROCESS IS THOROUGH AND TRANSPARENT IN ACCORDANCE WITH IRS GUIDELINES AND THE ORGANIZATION'S POLICIES AND PROCEDURES.”

“COMPENSATION OF OTHER HIGH-LEVEL PERSONNEL AND KEY EMPLOYEES IS REVIEWED PERIODICALLY BY the compensation committee of the Board. EFFORTS ARE MADE TO SECURE COMPENSATION DATA FROM INDUSTRY SOURCES IN ORDER TO DETERMINE COMPETITIVENESS AND APPROPRIATENESS OF SALARIES AND ALL RELATED BENEFITS. ALL DECISIONS ARE THEN DOCUMENTED IN PERSONNEL FILES.”

“ALL OF THE ORGANIZATION'S GOVERNING DOCUMENTS, FINANCIAL STATEMENTS AND OTHER LEGALFILINGS ARE MAINTAINED IN A SECURE ENVIRONMENT AND HELD AVAILABLE FOR INSPECTION BYTAX AUTHORITIES AND THE GENERAL PUBLIC. TAX RETURNS ARE available to the general public for download at various third-party websites such as www.guidestar.org and www.charitynavigator.org, among others. Tax returns ARE ALSO AVAILABLE FOR A PHYSICAL INSPECTION AT THE ORGANIZATION'S OFFICE IN SAN FRANCISCO, CALIFORNIA.”

“Change in discount on long-term receivables = -$44220”

“Such information should be relevant, reliable and comparable across companies on a global basis.The SASB Foundation envisions an investment universe where a shared understanding of companies sustainability performance enables companies and investors to make informed decisions that drive improved sustainability outcomes and thereby lead to improved long-term value creation.The SASB Foundation has established an independent standard-setting arm, the Sustainability Accounting Standards Board, that sets sustainability disclosure standards that are industry-specific and tied to the concept of materiality to investors under the U.S. federal securities laws. The standards are intended to capture sustainability matters that are financially material -- reasonably likely to have a material impact on financial performance or condition. Standard-setting is accomplished through a rigorous process that includes evidence-based research and broad, balanced stakeholder participation.Disclosure to investors under our standards should be made under systems of governance and controls that are consistent with those used generally in connection with company disclosures of material information to investors. Given today's world of multiple channels of company communications to investors, disclosure of this information may be made in a variety of ways, including regulatory filings.The SASB Foundation also provides education and other resources that advance use and understanding of our standards.”