The Character Lab Inc

“Feroz dewan, board member, and erica dewan, treasurer, have a family relationship.”

“The organization has outsourced its business management services, including financial management and reporting to an outside organization. Rsm us llc was paid $78,790 during the fiscal year.”

“The form 990 is prepared by an independent accounting firm and then reviewed by the organization's director of finance and operations as well as the executive director. Prior to its submission, the audit committee was provided with a copy of the draft form 990. The form 990 was also provided to each board member prior to filing with irs.”

“The organization has a conflict of interest policy that applies to its directors, officers, key employees ("covered persons"). Per the policy, disinterested directors are responsible for reviewing any actual or potential conflict or interest between the organization and a covered person and for determining an appropriate organizational response to protect the interests of the organization. Covered persons are also under a continuing obligation to disclose any actual or potential conflict of interest as soon as it is known or reasonably should be known when there was an actual or potential conflict of interest between the organization and a covered person with respect to a specific proposed action or transaction, the disinterested directors approved such action or transaction, as documented in board meeting minutes.”

“To set compensation for the executive director, the organization employed an external consultancy in 2021 who completed a market scan of peer organizations. The resulting comparison was shared with the governance committee of the board, who have responsibility for approving and monitoring compensation for executive leadership. The deliberation and final decision are timely documented in minutes.”

“The governing documents, conflict of interest policy and financial statements are available for inspection upon request.”

“Consulting fees: program service expenses 927,230. Management and general expenses 89,954. Fundraising expenses 6,565. Total expenses 1,023,749. Marketing and branding services - innovation fund: program service expenses 250,000. Total expenses 250,000. Core products service contract: program service expenses 226,188. Total expenses 226,188. Program research: program service expenses 154,605. Total expenses 154,605. Custom engineering: program service expenses 282,422. Total expenses 282,422.”