Goodweave International

“The Executive Committee shall consist of a Chair and such additional directors as designated by the Board; and except as otherwise provided by the By-laws or by resolution of the Board, the Executive Committee shall have and may exercise all of the powers and authority of the Board in the management of the Corporation, including the roles of the other committees specified in the By-laws but not constituted, including specifically the authority to act on behalf of the Board between meetings of the Board except that the Executive Committee may not reverse any action taken by the Board.”

“The Audit/Finance Committee of the organization reviews the form 990 prior to filing. Once reviewed by this committee, the return is signed by the President and filed. Prior to filing the return, a copy of the return as it will be filed is provided to each Board member electronically.”

“The Conflict of Interest Policy is contained in the organization's bylaws and requires annual certification by Board members, including the disclosure of any actual or potential conflicts of interest. The Board of Directors and management monitor this process and, in general, no business transactions (purchase of goods or services, loans, etc.) with Board members or their employers are permitted other than the normal transactions between a nonprofit and its Board members such as contributions and payment of program service revenue to the organization for participation in various programs.”

“The compensation of the President is established by the Board of Directors, who are independent of the President. The compensation level for the President is established by the Board of Directors based on knowledge of current salary levels for executives of similar organizations, performance of the President, and budgetary constraints. As a result, the salary levels trend towards amounts lower than current market levels in the Washington, DC metropolitan area might indicate. Notification of any change in the President's salary is made to the organization's third party accountant by an officer of the Board of Directors. Board officers are not compensated in their role as officers or Board members.”

“GoodWeave makes available to the public all documents required under current Internal Revenue Service Treasury Regulations.”

“Governing documents such as Articles of Incorporation and Bylaws, internal policy documents, and audited and unaudited financial statements would be made available on a case by case basis to individuals or organizations which have an interest in those documents at the discretion of the organization's Board of Directors and management.”

“GoodWeave inspects the production supply chains of participating manufacturers and importers. To be certified and thus eligible to display the GoodWeave label, manufacturers sign a legally binding agreement to: (1) Produce products free from child, forced, and bonded labor; (2) Register all production sites with GoodWeave and allow random, unannounced inspections; and (3) Pay license fees that support restoring freedom to children, rehabilitation, and education in India and Nepal. In 2024, carpet, home textile, and apparel programming resulted in new import and retail companies in several countries joining, bringing the total number of importer licensees and business partners globally to 194. This year, an estimated 30.8% of the global market for handmade rugs carried the GoodWeave certification label. GoodWeave also continued a project funded by the Netherlands Enterprise Agency's (RVO's) Fund Against Child Labor (FBK). The project entitled "Child Labor Free Supply Chains - Deep Due Diligence for Dutch Companies" supports GoodWeave's work to eliminate child labor in carpet supply chains in India and Nepal, as well as an expanded effort to grow GoodWeave's presence in the Dutch market.”

“In 2024, GoodWeave restored freedom to 378 children across all program categories. Every child found is reunited with her or his family whenever possible and is offered rehabilitation, counseling, schooling, health care, and other critical services. The unannounced, random inspections of workshops, factories, and private homes in artisan and producer villages prevent thousands of children from ever being exploited. GoodWeave is a member of the ISEAL Alliance. Our system has been independently evaluated against its Codes of Good Practice -- a globally credible framework for voluntary sustainability systems.”

“Consultants and contracted services: Program service expenses 290,385. Management and general expenses 15,243. Fundraising expenses 6,039. Total expenses 311,667.”

“Loss on Foreign Currency -13,789. Cancellation of Grant Payable 75,000.”

“No change from the prior year.”