Issara Institute Inc.

“The co-founders of issara institute, lisa rende taylor and mark taylor, have a family relationship.”

“The organization does not have committees with the authority to act on behalf of the governing body.”

“The form 990 was prepared by the outside accountants and reviewed by senior management. The issara institute provided a complete copy of the draft form 990 to all members of its governing body before submitting the form to the irs.”

“Each director and principal officer signs a statement annually which affirms the person has received a copy of the conflict of interest policy, has read and understands the policy, has agreed to comply with the policy, understands the organization is charitable and in order to maintain its federal tax exemption it must engage primarily in activities which accomplish one or more of its tax-exempt purposes, and is not aware of any undisclosed actual or potential conflict of interest. In connection with any actual or possible conflict of interest, an interested person discloses the existence of the financial interest and be given the opportunity to disclose all material facts to the entire board of directors considering the proposed transaction or arrangement. After disclosure of the financial interest and all material facts, and after any discussion with the interested person, he/she leaves the governing board meeting while the determination of a conflict of interest is discussed and voted upon. The remaining board members decide if a conflict of interest exists. An interested person may make a presentation at the governing board meeting, but after the presentation, he/she leaves the meeting during the discussion of, and the vote on, the transaction or arrangement involving the possible conflict of interest. The chairperson of the governing board, if appropriate, appoints a disinterested person to investigate alternatives to the proposed transaction or arrangement. After exercising due diligence, the governing board determines whether the organization can obtain with reasonable efforts a more advantageous transaction or arrangement from a person or entity that would not give rise to a conflict of interest. If a more advantageous transaction or arrangement is not reasonably possible under circumstances not producing a conflict of interest, the governing board determines by a majority vote of the disinterested directors whether the transaction or arrangement is in the organization's best interest, for its own benefit, and whether it is fair and reasonable. In conformity with the above determination, it makes its decision as to whether to enter into the transaction or arrangement. If the governing board has reasonable cause to believe a member failed to disclose actual or possible conflicts of interest, it informs the member of the basis for such belief and afford the member an opportunity to explain the alleged failure to disclose. If, after hearing the member's response and after making further investigation as warranted by the circumstances, the governing board determines the member failed to disclose an actual or possible conflict of interest, it takes appropriate disciplinary and corrective action.”

“Compensation of directors, including the executive director, are reviewed and approved by our development donors as well as our board. They are in line with similar positions in us non-profits in our field. The review process was docmented and the last date of compensation review was july 2021.”

“The organization makes its governing documents, conflict of interest policy and financial statements available upon request.”

“Ppp loan treated as revenue but not forgiven 41,768. During 2020.”

“The institute received loan proceeds in the amount of $41,768 under the paycheck protection program (ppp). Under the coronavirus aid, relief, and economic security act (cares act), the promissory note must be used for certain expenditures within a 24-week period to ultimately be forgiven by the small business administration. During the year ended december 31, 2020, the institute expended and tracked the ppp funds for purposes outlined in the cares act guidance and believes they have met all conditions set forth for full forgiveness. Accordingly, under guidance found in fasb asc 958-605, the institute has recognized the ppp funding as a conditional contribution by which all conditions have been met. The institute has deemed the forgiveness by the sba to be highly probable, an administrative task only, and not a barrier to recognition. According to the irs instructions, the ppp loan revenue must be recognized in the year it is forgiven. Therefore, creating a book to tax difference for 2020 and 2021.”