Cadasta Foundation

“The return was prepared by outside accountants and reviewed by senior management. A copy of the 990 was provided to the board prior to filing.”

“Cadasta's governance policies and processes support compliance and monitoring of a standard, annually signed "business code of ethics and conflict of interest" statement. The directors and officers are annually required to disclose their interests and if any potential conflicts arise, these are reviewed during the board of directors meetings. To date the organization has not identified any conflicts of interest, or business ethics issues. Once a conflict of interest has been found, the board or committee follows the procedures set forth in article iv in order to decide what measures are needed to protect cadasta's interests in light of the nature and seriousness of the conflict, to decide whether to enter into the transaction and, if so, to ensure that the terms of the transaction are appropriate. In the case of an insider who is a director, the director does not vote on any transaction in which the director has an interest, and the remaining board or committee members shall decide the matter.”

“The company and the board of directors hired an outside recruiting firm to find a full-time ceo and negotiate a market compensation for the ceo. The firm conducted a full global search from which a number of candidates were selected for virtual and in-person interviews conducted by 5 board members and approved by the full board. The search firm provided comparable market-based salary information used in the final negotiations. The last compensation review took place in june 2018.”

“Governing documents, business code of ethics, conflict of interest policy and financial statements are available upon request.”

“Consulting: program service expenses 211,241. Management and general expenses 36,289. Fundraising expenses 29,930. Total expenses 277,460. Other prof fees: program service expenses 48,416. Management and general expenses 11,022. Fundraising expenses 15,000. Total expenses 74,438. Fellowship fees: program service expenses 400. Management and general expenses 0. Fundraising expenses 0. Total expenses 400.”

“The organization restated its net assets due to new accounting pronouncements on revenue recognition. As a result, $113,930 of awards were recharacterized as refundable advances as of december 31, 2019. This change is reported as a prior period adjustment.”