Razom Inc

“The organization's bylaws were amended during 2024. The summary of changes is as follows: 1. Board composition and terms. The new bylaws expanded the board of directors to 3 to 15 members, from 3 to 12, elected by a two-thirds vote. Directors now serve staggered two-year terms, with a limit of three consecutive terms unless waived by a board vote. 2. Officers. The officer structure has been updated to include a chairperson or co-chairs, ceo, coo, cfo, and secretary. Officers serve until replaced, with a clearer division between board leadership and executive management roles. 3. Committees. Several standing committees were formalized, including audit, finance, compensation & management, development, and nominating & governance, with defined functions. Advisory committees may also be created to provide non-voting support for specific initiatives.”

“This form 990 was prepared by the organization's external accounting firm through collaboration with the organization's staff. The final version was distributed to and reviewed by the board prior to filing with the internal revenue service.”

“Each director and officer is required to annually complete and sign a statement affirming the understanding of and agreement to comply with razom's conflict of interest policy. In connection with any actual or possible conflict of interest, an interested person must disclose all material facts to the board of directors or committee considering the proposed transaction or arrangement. The board is charged with reviewing each situation, determining if a conflict exists, and conducting due diligence to determine if a more advantageous solution that does not involve a conflict of interest exists. In conformity with the above determination, the board is responsible for making an independent decision as to whether to enter the transaction or arrangement. Directors having a conflict of interest are required to recuse themselves from the board or committee's deliberation and vote. In case of conflict of interest policy violations, an appropriate disciplinary corrective action will be taken.”

“Ceo's compensation was determined by the compensation committee of the board, which was comprised solely of independent directors, based on market comparability data and the process and decision were contemporaneously documented. Officers and key employees' compensation was based on market comparability data and the process and decisions were contemporaneously documented.”

“The organization's required documents are available to the public upon request.”

“Compensation in the amount of $11,650 is shown as paid to max burtsev during 2024. That compensation was for professional services rendered to razom, contracted prior to being elected to razom's board of directors. Razom's board members are volunteers and are not compensated for serving on the board.”

“The process has not changed from prior year.”