Grameen Puerto Rico LLC

“Professor muhammad yunus, abdul hai khan and vidar jorgensen have business relationships.”

“The organization ceased operations and dissolved in puerto rico on november 4, 2020. A certified copy of the articles of dissolution is attached to this form 990, approved by the secretary of state of puerto rico.”

“Grameen america, inc. Is the sole member of grameen puerto rico, llc.”

“Grameen america, inc., as the sole member of the organization, can elect board members of the organization.”

“The form 990 is prepared by the organization in conjunction with its outside accounting firm. Upon completion, it is reviewed by senior management and shared with the board of directors. The form 990 is presented to the board of directors via email to ensure that all members are aware of its contents. Once the board approves the 990 for filing, it is submitted electronically to the internal revenue service.”

“The organization's conflict of interest policy applies to trustees, officers, employees, and any other person who was in a position to exercise substantial influence over the affairs of gai. On an annual basis, conflict of interest questionnaires are distributed to trustees, officers, and key employees. Potential conflicts of interest involving trustees, officers, and key employees are reported to the executive committee of the board of trustees. The executive committee determines whether a conflict of interest exists and evaluates conflict of interest transactions. The executive committee also reviews existing conflicts of interest on an annual basis. An individual involved, directly or indirectly, in an actual or potential conflict of interest transaction may not participate in any discussion of the relevant transaction.”

“Gai makes its form 990, annual financial statements, annual report and mission statement available on its website at www.grameenamerica.org. The organizing documents and conflict of interest policy are available upon request and at management's discretion.”

“Since grameen puerto rico, llc did not complete a full calendar year, no compensation is required to be disclosed on the form 990.”

“Organization ceased conducting any program services the organization ceased operations on september 30, 2020. Current outstanding loans were paid for by donor funds, and the entity was dissolved in puerto rico on november 4, 2020. Remaining net assets were distributed to a related tax-exempt entity, grameen america, inc.”

“Satisfaction of intercompany liability with grameen america, inc. Upon dissolution of grameen puerto rico, llc 955,899. Bad debt provision adjustment 23,804.”