Keshet Inc.

“The form 990 was prepared the outside accountants and reviewed by the chief executive officer, the chief financial officer, and the finance committee. A draft of the 990, with a redacted version of schedule b, was sent to the board prior to filing.”

“The organization has a written conflict of interest policy that is distributed to all board members, officers and senior management. Annually, all such individuals sign conflict certification statements. Unless entered into in bad faith, no contract other transaction between the corporation and any other person or organization, and no act of the corporation shall be affected by the fact that a director, officer or employee of the corporation has a financial or other interest in such person or organization. Where a director has a financial or other interest in such person or organization, the director makes reasonable efforts to disclose relevant information to the board of directors and not vote on matters related to such interest or organization.”

“All annual compensation is a part of the annual budget process. The board reviews all compensation arrangments each year as a part of the budget review and approval process. Comparable data is used in the compensation process for the president. This process is also discussed and documented. The last compensation review took place in december 2019.”

“The organization furnishes all public documents upon request. In addition, the public can download these documents from both guidestar and the massachusetts attorney general's website free of charge.”

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

“Deborah newbrun received compensation for services unrelated to her duties as a board member.”

“On april 13, 2020, keshet entered into a two-year promissory note agreement in the amount of $344,000 (with a 1% fixed interest rate) under the paycheck protection program. The promissory note required monthly principal and interest payments amortized over the term of the promissory note beginning november 2020, unless otherwise forgiven. Under the coronavirus aid, relief, and economic security act (cares act), the promissory note may be forgiven by the small business administration in whole or in part. On april 5, 2021, keshet was notified (by the sba) that the full outstanding principal and accrued interest was forgiven. Accordingly, as of december 31, 2020 keshet has recognized the entire amount of $344,000 (plus $1,536 of accrued interest) as a conditional award (in which all conditions have been met, and recorded as without donor restrictions). The total amount of the forgiven loan and interest is included in grants and contributions income.”