Blue Sphere Foundation Inc

“The organization does not have any committees that have the authority to act on behalf of the governing body.”

“The return was prepared by outside accountant and reviewed by senior management. The final form 990 was reviewed by the organization's governing body prior to the return being filed with the irs.”

“Officers, directors and key employees are required to disclose annual interests that could give rise to conflict. The organization regularly and consistently monitor and enforce compliance with the conflict of interest policy. Each director, officer or member of a committee of the organization is under a continuing obligation to disclose any actual or potential conflict of interest to the board or committee as soon as it is known or reasonably should be known. Whenever a director, officer or staff member has a direct or indirect financial or personal interest in any matter, the affected person a) fully discloses the nature of the interest and b) withdraws from discussion, lobbying, and voting on the matter. Any transaction or vote involving a potential conflict of interest is approved only when a majority of disinterested directors determine that it is in the best interest of the corporation to do so. The minutes of meetings at which such votes are taken records such disclosure, abstention and rationale for approval. In determining whether to approve or continue a contract or transaction, the disinterested directors takes into account the restrictions regarding self dealing under section 4941 of the internal revenue code of 1986, as amended. In addition, each director, officer or staff member must report promptly to the board of directors any potential conflict of interest whenever it arises. The board of directors adopts a conflict of interest policy as they may deem necessary and appropriate.”

“Compensation is determined using a full audit system and tools to make sure that salaries are based on comparable market values and not without direction. The compensation review process for the top management official is completed by independent persons and is discussed and documented. The last compensation review took place in november 2022. The compensation review process for other officers and key employees is conducted by the ceo using comparable market values.”

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

“Production services: program service expenses 831,533. Management and general expenses 351,107. Fundraising expenses 7. Total expenses 1,182,647. Operational services: program service expenses 299,966. Management and general expenses 126,030. Fundraising expenses 2. Total expenses 425,998.”

“Transfer of assets - see below -194,492.”

“This reduction in net assets results from the establishment of a newly formed organization in 2022. Certain operations, and assets including equipment and computers were transferred out of only one to the new entity during this process and resulted in the corresponding loss on the transfer.”