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 2019, no salary adjustments were awarded to officers or key employees in 2020.”

“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.”

“In 2019, enactus initiated a two-year financial restructuring, which included among other actions the sale of an underutilized building. In 2020, enactus rationalized and moved operations into a leased facility and the building was sold. The building sale generated significant cash flow which was used to pay off all debt and fund operations, however resulted in a book loss of $1,288,569, which is included in investment income.”

“Enactus is the largest experiential learning platform dedicated to creating a better world while developing the next generation of leaders with a head for business, a heart for the world. The enactus network of global business, academic and student leaders is unified by our vision to create a better, more sustainable world.”

“At enactus, we believe investing in students who take entrepreneurial action for others creates a better world for us all. Enactus develops college students into leaders who use business innovation to solve community challenges, creating sustainable improvements in the lives of the people their projects serve, and in turn, the lives of the students themselves. As the largest experiential learning platform devoted to entrepreneurial action, enactus has 72,000 students who participate in competition teams and engages more than 115,000 in other ways. Students attend university on more than 1,471 campuses in 35 countries. The longer students stay with enactus the more they believe key job skills improve. Students say critical thinking; budget management; data use, analysis and management; conflict resolution; and collaboration all improved 70% or more over four years in enactus. In the 2019-2020 academic year, enactus students actively worked in more than 70 countries creating and implementing more than 1,480 projects or social enterprises that directly impacted more than 4.3 million lives. For more information visit www.enactus.org.”

“92,847 people have been lifted above the poverty line 3.1 million people have improved access to healthy food 7 million tons of waste have been diverted or prevented 15,875 new jobs were created 23,914 people obtained employment 8,015 businesses - many with potential to scale - have been founded”

“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.”