Service Year Exchange Inc.

“The executive committee has the authority to make decisions on urgent matters when the board is not in session.”

“Elliot gerson and namita khasat have a business relationship.”

“The aspen institute, is a tax-exempt organization and a sole member of service year exchange.”

“The sole member of the organization, the aspen institute, has the power to elect the board members of service year exchange.”

“The form 990 is prepared by outside accountants and is reviewed by management and the finance committee of the board. The return is then shared with the full board of directors before it is filed with the irs.”

“Each year each director and officer files a statement with the board of directors that lists: (a) any outside employment or consulting work that could constitute a conflict; and (b) any board membership or affiliation with other organizations that could constitute a conflict. Each director and officer must also list his or her investments in any corporation, partnership, trust, or fund in which he or she, together with members of his or her family, has directly or indirectly a greater than 35% ownership interest, regardless of whether the investments could constitute a conflict. All material facts concerning any situation that might be viewed as a conflict should be disclosed to the board of directors by the director or officer concerned. Where doubt exists regarding whether a conflict exists or appears to exist, the matter must be resolved by the board of directors. No director or officer may be present for a vote by the board of directors on any decision or action by the corporation which would directly or indirectly benefit directors or officers. The director or officer may, however, answer questions or respond to requests, at a meeting or otherwise, for factual information needed for the board to make an informed decision. The board of directors does not approve any transaction to which the corporation would be a party and in which a director or officer of the corporation has a material financial interest unless and until the board of directors has specifically and in good faith determined after reasonable investigation (including a review of the terms under consideration that): a. The board is aware of all material facts concerning the transaction and the director or officer's interest in the transaction; b. The corporation is entering into the transaction for its own benefit; c. The transaction is fair and reasonable as to the corporation; and d. The corporation could not have obtained a more advantageous arrangement with reasonable effort under the circumstances.”

“In november 2020, the ceo's compensation was determined by a governance committee of the board. They used similar organizations as benchmarks to ensure compensation remains within fair market value for the industry. The ceo's compensation was voted on and approved by the full board. All board level discussions on compensation are recorded in board minutes. The ceo determines the compensation for the chief of staff with input from others on the executive management team. Executive team compensation is determined as reflective of fair market value for the industry. The ceo, in concert with the chief of staff, determine compensation for all other employees using similar methods to ensure compensation is within fair market value for the industry.”

“The organization makes its governing documents, conflict of interest policy service year exchange, inc. 47-4970343 and financial statements available to the public upon request.”

“External costs: program service expenses 406,302. Management and general expenses 93,513. Fundraising expenses 0. Total expenses 499,815. Payroll processing fees: program service expenses 0. Management and general expenses 6,538. Fundraising expenses 0. Total expenses 6,538.”

“The form 990 has been amended to correct the omitted disclosure of the severance payment to the former ceo during the tax year.”