Enactus

“The organization's audited financial statements and 990 tax return are reviewed by the board of director's finance and audit committee. After review and approval by the committee, the documents are reviewed by the entire board, via electronic or hard-copy, for final acceptance and release to the public.”

“Organization's conflict of interest policy is intended as a supplement to any applicable state and federal laws governing conflict of interest applicable to nonprofit and charitable organizations. Each director, principal officer and member of a committee with governing board delegated powers, annually signs a statement regarding policy knowledge and compliance. In addition there is periodic review by management and if needed, outside advisors are utilized. The policy details procedures for determining and addressing a conflict of interest.”

“The compensation for the ceo, corporate officers and key employees is reviewed annually by the human capital committee of the board of directors. The human capital committee reviews proposed compensation changes and analyzes comparable benchmark data to ensure compensation is on target with comparable organizations. After review, the committee presents their recommendations to the board for final approval. Based upon the performance of the organization in fy 2017, minimal salary adjustments were awarded to officers and key employees in 2018.”

“The organization's governing documents and conflict of interest policy are available upon request. The audited financial statements and form 990 are available on the organization's website and on other websites that make such information available by a searchable database.”

“The organization has an audit committee that assumes responsibility for overseeing the audit and the selection of the independent accountant. The process has not changed from the prior year.”

“In 2019, enactus' 2016 form 990 was selected for audit by the irs. The audit was closed with a no-change conclusion meaning that enactus continues to qualify for exemption from federal income tax under section 501(c)(3) of the internal revenue code and the irs has accepted the 2016 return as originally filed. However, during the audit enactus determined that enactus mexico, enactus china, enactus brazil, enactus india and enactus italy should not be listed as disregarded entities in schedule r and the financial information of these entities should not be included in the form 990. As a result, the financial activities of these entities have been removed from the form 990 beginning in 2018.”