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 existence 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 conderning 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, conflicts of interest policy, and financial statements of the organization are available to members of the public upon request.”

“This form 990 is being amended to correct the reporting of $417,333 of grant income on page 9, part viii, erroneously entered as government grants on line 1e which should have been entered on line 1f, all other contributions, gifts, grants and similar amounts. All amounts received were properly reported on schedule a and schedule b, including the calculation of excess contributions on line 5 of schedule a page 2 part ii. The only change to the return as originally filed is moving contributions from line 1e to line 1f.”

“Wellspring: program service expenses 140,156. Total expenses 140,156. Giz: program service expenses 47,685. Total expenses 47,685. Facebook: program service expenses 140,257. Total expenses 140,257. Program related contracts: program service expenses 54,421. Total expenses 54,421. External consultants/contractors: program service expenses 44,500. Management and general expenses 50,060. Total expenses 94,560. Professinal fees, other: program service expenses 7,500. Total expenses 7,500.”