Global Development Network Inc.

“No committees have the authority to act on behalf of the board.”

“The form 990 was prepared by the outside accountants and reviewed by the finance officer and senior management of global development network, inc. (gdn). It was also reviewed by the sub-committee of the board.”

“In connection with any actual or possible conflict of interest, an interested person must disclose the existence of the financial interest and be given the opportunity to disclose all material facts to the board considering the proposed transaction or arrangement. Following any disclosure by an interested person of the existence of a financial interest, the president shall make an initial determination as to whether such financial interest may constitute an actual or potential conflict of interest. The president will inform the board at each board meeting of his initial determination. The board shall then review each disclosure, together with the president's initial determination, and make a final decision whether a conflict of interest exists or not. The interested person shall leave the board meeting while the remaining directors on the board consider all the information presented and make the final decision. Procedures for addressing the conflict of interest: a. After exercising due diligence, the board shall determine whether the corporation 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. If the board is able to obtain a more advantageous transaction or arrangement, it may terminate the situation giving rise to a conflict of interest and pursue the more advantageous transaction or arrangement. B. If a more advantageous transaction or arrangement is not reasonably possible, the board shall determine by a majority vote of the remaining directors whether the transaction or arrangement is in the corporation's best interest, for its own benefit, and is fair and reasonable. Based on the above determination, the board shall decide whether to enter into the transaction or arrangement. Violations of the conflict of interest policy: a. If the board has reasonable cause to believe that a director has failed to disclose actual or possible conflicts of interest, it shall inform the director concerned of the basis of such belief and afford the director an opportunity to explain the alleged failure to disclose. B. If the board still has reason to believe that an actual or possible conflict of interest exists, it shall take appropriate corrective action.”

“Gdn's ceo compensation was reviewed and approved by the board members. The review included a comparison of compensation with other similar nonprofit institutions. The deliberation and decision of the board review was documented in the meeting minutes. The last review took place in october 2019. The president is responsible for determining all other staff compensation.”

“Global development network, inc. Makes its governing documents, conflict of interest policy, and financial statements available to the public upon request. The financial statements are also available on the organization's website.”

“Consulting: program service expenses 162,991. Management and general expenses 0. Fundraising expenses 0. Total expenses 162,991.”

“Gain on foreign currency exchange 2,063.”