Itrek Inc.

“In april 2011, the organization entered into a five year management agreement with u.s, israel business council, inc. (usibc). The executive director of this organization, is the founder and president of usibc. Usibc previously provided the organization with part-time staff dedicated to the organization's effort, and the two entities shared office space and services, for which usibc was reimbursed pursuant to a management agreement between the two entities. While the management agreement remains intact, usibc is currently not providing goods services on a regular monthly basis. If upon request, usibc provides goods and/or services, the organization will reimburse usibc pursuant to the provisions of the existing management agreement. The agreement automatically renews for an additional five year period unless otherwise terminated. The agreement may be terminated by either party at any time with 45 days' written notice. During the year ended may 31, 2015, the organization paid a total of $56,334 to usibc. This consisted of $19,641 of management fees and $36,693 of reimbursed expenses.”

“The organization was formed as a membership organization.”

“The members elect the organization's governing body.”

“The 990 has been reviewed by a group of persons authorized to review financial and audit matters prior to filing. The final 990 (filed with the irs) will be available at the next meeting of the board for inspection. In addition, upon request of any boardmember, a copy will be provided. If there are any material changes, an amended 990 will be filed.”

“The organization enforces the conflict of interest policy by monitoring known relationships, questionnaires, and noting any changes in disclosed information. Any conflict is reviewed by the board before a decision is made as to whether to approve the transaction.”

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

“Consultants: program service expenses 182,898. Management and general expenses 67,304. Fundraising expenses 11,811. Total expenses 262,013. Other professional fees: program service expenses 0. Management and general expenses 14,143. Fundraising expenses 0. Total expenses 14,143.”