Groundswell Fund

“Form 990 is prepared by an outside tax professional. The form is then reviewed bythe organization's management, the cfo, and the executive director. This group of individuals then discusses the contents of the return with the outside tax professional. After a full review, the final version of the tax return is provided to all members of the organization's voting body. A representative of management authorizes the final form 990 which is then e-filed with the internal revenue service.”

“Members of the board of directors review all potential conflicts of interest atleast annually. All personnel and board members are required to disclose (inwriting) potential conflicts and any related party affiliations. Loans between theorganization and members of management and the board are strictly prohibited. Theorganization seeks full transparency on all relationships. Any potential conflicts(in fact or appearance) are discussed openly and resolved in accordance with theorganization's policies and procedures.”

“Members of the board of directors review the compensation of all high-level personnel periodically in accordance with irs rules and regulations. Efforts are made to secure compensation data from industry sources in order to determine competitiveness and appropriateness of salaries. Every effort is made to ensure that the process is thorough and transparent in accordance with irs guidelines and the organization's policies and procedures.”

“Compensation of other high-level personnel and key employees is reviewed periodically by members of management. Efforts are made to secure compensation data from industry sources in order to determine competitiveness and appropriateness of salaries and all related benefits. All decisions are then documented in personnel files.”

“All of the organization's governing documents, financial statements and other legalfilings are maintained in a secure environment and held available for inspection bytax authorities and the general public. Tax returns are also available upon request.”

“Change in unamortized discount = $22335”

“Consolidation rounding = -$1”

“IRS Instructions (page 7) specifically require a tax-exempt organization to reflect compensation of individuals who are also providing services to a sister or related entity: Reporting information from third parties. Some lines request information that the organization may need to obtain from third parties, such as compensation paid by related organizations. In compliance with this request, this tax return provides such information. The Organization shares staff and certain other expenses with Groundswell Fund (the Fund), an IRC section 501(c)(3) organization, pursuant to a written cost-sharing agreement. Under the agreement, Fund employees conduct activities on behalf of the Organization, and the Organization promptly reimburses the Fund for all associated expenses, including the allocable share of employment taxes. The Fund pays all required employment taxes for its employees, and issues the relevant IRS forms.”