Eurasia Foundation Inc.

“The form 990 was prepared by an outside accountant in consultation with the organization's senior management. A draft of form 990 was reviewed by the director of finance and administration. A copy of the form 990 is provided electronically to the finance and audit and executive committees, as well as the entire board. All questions were addressed electronically, before filing with the irs.”

“Annually, all officers, trustees and employees are required to sign a conflict of interest statement and, if necessary, the statement is updated throughout the year. If a conflict should arise, the interested officer, trustee, or staff member will disclose in writing to the board of trustees all material facts as to the relationship or interest. Individuals with conflicts of interest must recuse themselves from participating in any part of the decisions related to the transaction giving rise to the conflict.”

“Each year eurasia foundation (ef) reviews market research on the existing salaries to ensure it is competitive in its employee compensation. Ef also follows industry standard for merit increase adjustments. A review is conducted to compare ef against the dc area as well as similar organizations and budget size based on published survey data. The president's salary is reviewed and approved by the board. For all other employees, an annual salary adjustment pool is reviewed by the finance & audit committee and recommendation is made to the executive committee for final approval. Performance and salary review for the president is conducted by the chair and vice chair of the board. The president also annually undergoes 360 degree performance reviews and his last compensation review took place in april 2017.”

“The organization's governing documents, conflict of interest policy and financial statements are available upon request. The organization's financial statements are also available on guidestar.org. Audited financial statements are provided upon request.”

“Benefit to their communities. While building the leadership skills of women and young people, we help small business become more successful, local government more responsive and civic organizations more effective and resilient. For twenty five years, the foundation's charitable mission has included the promotion of the economic and political transformation of the independent states of the former u.s.s.r. (target area) through market economies and political systems based on democratic principles and provision of technical, grant, and loan assistance to local business ventures in the target area. The foundation continues to make progress in achieving these purposes. There have been no significant changes in program services, manner of conducting program services, or in sources of funding. From its formation at the request of the u.s. Government, the foundation has depended almost exclusively on u.s. Government funding. For several years the foundation has been researching ways to engage other funders in supporting its mission in the target area. During the tax year ending 09/30/16 the foundation caused the formation of two entities for this purpose, and a third the following year. These are unrelated, independent entities. They will be supported by three or more government related international development banks or other foundations. These initial funders have agreed to engage in the same types of economic development projects that the foundation has engaged in, in the same target area. The foundation has no ownership, membership, or control of these independent entities. The foundation believes that its tax exempt charitable purposes are furthered by having stimulated others to invest in economic development in the foundation's historic target area. It may appoint two advisors out of a total of five advisors to one of the entities to continue to urge the entities to support economic development in the target area. One or more of these entities may make charitable contributions to the foundation from time to time in recognition of the foundation's leadership in stimulating economic development in the target area. The foundation may make one or more modest program related investments in one or more of the entities from time to time.”

“Consultants and contract services: program service expenses 930,981. Management and general expenses 130,223. Fundraising expenses 0. Total expenses 1,061,204. Translation services: program service expenses 15,516. Management and general expenses 0. Fundraising expenses 0. Total expenses 15,516. Design, printing, publication services: program service expenses 16,362. Management and general expenses 10,168. Fundraising expenses 0. Total expenses 26,530. Payroll processing expenses: program service expenses 7,287. Management and general expenses 16,418. Fundraising expenses 0. Total expenses 23,705.”

“Cancellation of sub-grants awarded in prior years 87,485. Transfer of net assets: in 2013, ef received an award from -396,084. An agency of the united states government, and part of that award included resources for ef to establish a legacy organization in belarus based on its existing subsidiary new eurasia establishment (nee). Using the experience gained in localizing the previous field offices, ef designed and implemented a plan for nee to strengthen its management capacity and build a governance structure that would allow it to operate independently. Over the three years of the award, nee went through formal organizational capacity assessments, multiple staff trainings' to increase capacity of program and finance personnel. The nee board of trustees was established and convened. Following periodic assessments, the organization's financial autonomy was gradually increased as ef raised ceilings for financial commitments and disbursements not requiring prior approvals from ef. As ef and nee were entering the last nine months of project implementation, beginning october 1, 2016 was a logical point to formalize separation of the organizations' finances. Therefore, ef transferred the remaining balance of funds to nee. The amount transferred totaled $396,084.”