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.”

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

“FORM 990 IS PREPARED BY AN OUTSIDE TAX PROFESSIONAL. The form is then reviewed by the organizations management, the Audit Committee 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 = -$41000”

“Donated services and use of facilities = -$824010”

“SASB is not affiliated with FASB, GASB, IASB or any other accounting standards boards. SASBs mission is a natural evolution in the history of corporate reporting. SASB is continuing the tradition of disclosure to identify and inform investors of material information, and extending it to environmental, social and governance factors. Sustainability accounting standards are intended as a complement to financial accounting standards, such that financial fundamentals and sustainability fundamentals can be evaluated side by side to provide a complete view of a corporation's performance.In-Kind Revenue and Expenses---------------------------- During the year ended December 31, 2020, SASB was the recipient of certain pro-bono and in-kind services which amounted to $824,010. These in-kind amounts have been excluded from revenues and expenses in the tax return in accordance with instructions from the Internal Revenue Service.”