Scratch Foundation

“David m. Siegel is the co-chairman of two sigma investments, llc. Tanya sheehan and sheri vammen are employees of two sigma investments, llc. Form 990, part vi, line 6 the organization has two members who were elected by the sole incorporator. Form 990, part vi, line 7a the members have the right to appoint individuals to the board of directors.”

“Mitchel resnick, president/chair mit media lab 75 amherst st. Cambridge, ma 02139 david m. Siegel 100 avenue of the americas, 16th floor new york, ny 10013 tanya sheehan 100 avenue of the americas, 16th floor new york, ny 10013 sheri vammen 100 avenue of the americas, 16th floor new york, ny 10013 hume r. Steyer, assistant secretary seward & kissel, llp one battery park plaza new york, ny 10004”

“The form 990 is prepared by a third party. The form 990 goes through a detailed review internally by the treasurer. Once the return has gone through this review, the final form 990 will be distributed via email to each member of the board of directors with a recommendation to file the return with the irs.”

“THE CONFLICT OF INTEREST POLICY AND DISCLOSURE FORM IS SENT TO EVERY BOARD MEMBER AND CORPORATE OFFICER ON AN ANNUAL BASIS. DURING THE COURSE OF COMMITTEE OR BOARD MEETINGS, BOARD MEMBERS DISCLOSE ANY CONFLICTS RELATED TO THE AGENDA ITEM/DISCUSSION AND ABSTAIN FROM VOTING. WHENEVER APPROPRIATE, THE BOARD MEMBER WOULD BE EXCUSED FROM THE ROOM DURING DISCUSSION AND VOTING. To ensure the Foundation operates in a manner consistent with charitable purposes and does not engage in activities that could jeopardize its tax-exempt status, periodic reviews OF THIS POLICY shall be conducted.”

“The foundation will enter into a written compensation arrangement, specifying the date and terms of any arrangement whereby the foundation will pay compensation to a person, company or entity, prior to paying compensation to any person, company or entity. The foundation can only enter into a compensation arrangement with the approval of a majority of the board of directors. When determining whether to vote for a proposed compensation arrangement, the board of directors considers information about compensation paid by similarly situated taxable or tax-exempt organizations for similar services, current compensation surveys compiled by independent firms, or actual written offers from similarly situated organizations. The foundation will record in writing the information on which it bases its decision to approve a compensation arrangement.”

“The organization considers requests for financial statements, governing documents or conflict of interest policy on a case by case basis.”

“Tanya Sheehan is an employee of Two Sigma Investments, LLC and is paid for the services she provides to the Foundation through a management contract the Foundation has with Two Sigma Investments, LLC ("TSI"). Payments by the Foundation for such services of this officer are made to TSI annually in arrears. All such payments are for the portion of the direct compensation of such officer attributable to services rendered to the Foundation.”