Enactus

“With the support of enactus' attorney, the nominating and governance board committee revised enactus' bylaws for alignment with best practices. Changes include a reduction in the size of the board to no more than 15 members; dissolution of the 2nd vice chair role; dissolution of the human capital committee, with the nominating & governance committee taking responsibility for executive compensation review; adding term limits, where previously there were none, with directors serving two consecutive three-year terms and following one year of non-service they may be nominated to return for one additional three-year term for a total of nine years; and dissolution of the requirement for the board to approve hiring of enactus vice presidents and other senior leaders.”

“The organization's audited financial statements and 990 tax return are reviewed by the board of directors' 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 prior to filing with the irs and release to the public.”

“The organization's conflict of interest policy is intended as a supplement to any state and federal laws governing conflict of interest applicable to nonprofit and charitable organizations. Each enactus director, officer and member of a committee with governing board delegated powers, annually signs a statement regarding policy knowledge and compliance. In addition, there is a 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 members of the executive team who are covered under the enactus executive incentive plan is reviewed annually by the nominating & governance committee of the board of directors and shared with the entire board of directors. The nominating & governance committee reviews proposed compensation changes and analyzes comparable benchmark data to ensure compensation is on target with comparable organizations. Salaries were aligned with external benchmarks; no salary increases were awarded to those covered under the enactus executive incentive plan for fy2023.”

“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.”

“Each year, enactus educates tens of thousands of students across more than 30 countries to use innovation and business principles to help achieve the united nations sustainable development goals. At enactus we believe that investing in students who take entrepreneurial action for others creates a better world for us all. Experiential learning is the core of enactus' leadership development strategy for social and environmental impact. Enactus students learn by doing. The enactus program follows an academic calendar. At the start of each year, teams of enactus students, operating as chapters on their campuses, are trained in leadership, teamwork, project management, and business principles. Each enactus team then conducts needs assessments in their communities. Following a needs assessment, the team develops a project or business to meet the defined community needs. An enactus-trained faculty advisor and business advisory board comprised of partner companies supports each enactus team. Companies' employees with subject matter expertise across a spectrum of disciplines comprises the advisory board. Enactus has 42,450 students across 1,064 campuses globally and is the largest experiential learning network devoted to entrepreneurial action. For more information visit www.enactus.org.”

“294,845 people have been lifted above the poverty line 1.6 million people have improved access to healthy food 9 million tons of waste have been diverted or prevented 67,140 new jobs were created 118,045 people obtained employment 6,087 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.”