Center for Democracy and Technology

“The 990 was prepared by outside accountants and reviewed by the controller, president & ceo, and board of directors. It was then filed with the irs.”

“Each director, principal officer, and member of a committee with board-delegated powers annually signs a statement that affirms that such person: has received a copy of the conflicts of interest policy; has read and understands the policy; has agreed to comply with the policy; understands that the center for democracy and technology is a charitable organization and that, 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 agrees to disclose any relationships, positions or circumstances which may present or contribute to a conflict of interest as defined in this policy. Any cdt employee who (i) is about to participate in a decision regarding whether and on what terms cdt should enter into a transaction, and (ii) has a financial interest in that transaction, must disclose the existence of his or her financial interest and all material facts to the president & ceo. If the president & ceo (i) is about to participate in a decision regarding whether and on what terms cdt should enter into a transaction, and (ii) has a financial interest in that transaction, the president & ceo must disclose the existence of his or her financial interest to the board governance committee. If the board or committee has a reasonable cause to believe that an interested person has failed to disclose actual or possible conflicts of interest, it takes appropriate disciplinary and corrective action.”

“Compensation decisions regarding the ceo are reviewed and voted on by the board of directors. The board uses comparability data and the decisions are documented. The most recent review was completed in december 2020.”

“The organization makes its financial statements, form 990, and list of largest funders available on its website. Governing documents and conflict of interest policy are available for public inspection upon request.”

“Interns and temps: program service expenses 2,111. Management and general expenses 257. Fundraising expenses 132. Total expenses 2,500. Other prof. Fees: program service expenses 10,961. Management and general expenses 1,334. Fundraising expenses 687. Total expenses 12,982. Administrative fees: program service expenses 16,231. Management and general expenses 1,976. Fundraising expenses 1,018. Total expenses 19,225. Consultants: program service expenses 613,699. Management and general expenses 74,712. Fundraising expenses 38,473. Total expenses 726,884.”

“On april 15, 2020, cdt received loan proceeds in the amount of $551,094 under the paycheck rotection program. The promissory note calls for monthly principal and interest payments amortized over the term of the promissory note with a deferral of payments for the first six months. 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. Cdt used the proceeds for purposes consistent with the paycheck protection program and believes that its use of the loan proceeds will meet the conditions for forgiveness of the loan. Cdt has applied for forgiveness after completing the 24-week period. On january 22, 2021, forgiveness was granted and cdt will record revenue from the debt extinguishment during the year ended december 31, 2021.”