Bancroft Global Development

“All personnel are permanent employees of bancroft global management, llc (bgm). Bgm provides executive staffing and managerial services to bancroft global development (bgd). During the year in question, the following persons reported on part vii-a received compensation from bgm for services provided to bgd in the following amounts: -michael stock $47,444 -christine bowman $112,236 -greg joachim $336,843”

“No persons or committees exist with the power to act on behalf of the board.”

“The form 990 was prepared by the outside accountants and reviewed by the organization's officers. For completeness and accuracy, a copy of the 990 was provided to the full board before it was filed with the irs.”

“The organization requires written update of disclosures from its officers and directors on an annual basis. In accordance with bancroft procurement policy, interested parties are obligated to offer recusal from relevant management decisions, which the unaffected bancroft board members must accept prior to making final decisions. The following procedures are be used to address organizational conflict of interests: 1. The organizational relationship giving rise to the potential conflict is disclosed to the board of directors or to those individuals with board-delegated powers considering the proposed transaction or arrangement. 2. Any individual with a potential conflict must recuse him/herself from decision-making with respect to the proposed transaction or arrangement. 3. After exercising due diligence, the board of directors or those individuals with board-delegated powers determines whether bancroft can obtain with reasonable efforts a more advantageous transaction or arrangement from a person or entity that would not give rise to a conflict of interest. Exercising due diligence includes evaluating potentially capable alternative suppliers, with particular attention to such vendors' capacity to mitigate unique political and physical security risks associated with the organization's programs and locations. 4. If a more advantageous transaction or arrangement is not reasonably available under circumstances not producing a conflict of interest, a majority vote of the disinterested members of the board of directors determines if the procurement action is in bancroft's best interest and is fair and reasonable. Based on these determinations, the board makes its decision on whether to enter into the transaction or arrangement.”

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