Peacetech Lab

“Form 990 is reviewed by management and made available to the board of directors prior to filing.”

“In connection with any actual or possible conflict of interest, an interested person must disclose the existance and nature of his or her financial interest or fiduciary responsibility and all material facts to the board and/or the committee with board delegated powers, considering the proposed transaction or arrangement, shall consider whether the proposed transaction constitutes a conflict of interest. It is the continuing responsibility of the directors, officers, members of a committee with board delegated power, and key employees to scrutinize their transactions and outside business interests and relationships for potential conflicts and to immediately make such disclosures.”

“The board of directors must approve in advance the amount of all compensation for officers of this corporation. Before approving the compensation of an officer, the board of directors shall determine that the total compensation to be provided by this corporation to the officer is reasonable in amount in light of the position, responsibility and qualification of the officer for the position held, including the result of an evaluation of the officer's prior performance for this corporation, if applicable. In making the determination, the board of directors shall consider total compensation to include the salary and the value of all benefits provided by this corporation to the individual in payment for services. At the time of the discussion and decision concerning an officer's compensation, the officer should not be present in the meeting. The board of directors shall obtain and consider appropriate data concerning comparable compensation paid to similar officers in like circumstances.”

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

“Professional fees: program service expenses 612,466. Management and general expenses 242,007. Fundraising expenses 67,650. Total expenses 922,123.”

“Bad debt expense -1,500,000.”