First Draft News Inc

“The organization did not have any committees with authority to act on behalf of the board.”

“Form 990 is prepared by an outside accounting firm and reviewed by the organization's treasurer and secretary. A complete copy is distributed to all board members for their review prior to filing.”

“The organization currently has in place a conflict of interest policy that applies to any director, officer, committee member (if any), or employee, which it annually monitors and enforces. Each must annually sign a statement affirming that he/she has: received a copy of the conflict of interest policy, read and understands the policy, and has agreed to comply with the policy. The policy requires such persons to disclose any transactions which may potentially be a conflict of interest, and the board determines whether or not a conflict of interest exists. If a conflict of interest exists, the transaction must be approved in advance by only those board members who do not have a conflict with respect to the transaction. Any interested person therefore must recuse him- or herself from consideration of the transaction. He or she may not vote on the transaction or be present when the vote is taken. The minutes of any meeting at which a conflict of interest transaction is considered must reflect that the interested person made adequate disclosures, withdrew from consideration of the transaction, and abstained from voting. The minutes must detail the terms of the transaction, the date the transaction was approved, the board members present during the debate, who voted on the transaction, any data the board relied upon in determining that the transaction was reasonable and in the best interests of the corporation, how such data was obtained, the disclosures made by the interested person, and whether the interested person otherwise participated in any discussions or proceedings (i.e., to answer questions).”

“In january 2021, the board of directors determined and approved the executive director's salary following a survey of publicly available salary information for comparable roles at comparable organizations. This decision was documented in the board meeting minutes. In august 2022, the board of directors determined and approved a salary adjustment for the executive director to reflect changing time commitments during first draft's closure.”

“The organization makes its financial statements, governing documents, and conflict of interest policy available upon written request or by calling the organization directly.”

“In may, 2022, the board of directors determined that the organization would no longer continue activities, and starting in july the organization began planning for the organization's dissolution. On september 28, 2022, the organization's board of directors approved a plan to discontinue operations and dissolve the organization in 2023.”

“Project management services: program service expenses 249,160. Management and general expenses 0. Fundraising expenses 0. Total expenses 249,160. Program and strategic consulting: program service expenses 25,614. Management and general expenses 12,857. Fundraising expenses 0. Total expenses 38,471. Website: program service expenses 18,560. Management and general expenses 0. Fundraising expenses 0. Total expenses 18,560. Social media consulting: program service expenses 8,607. Management and general expenses 0. Fundraising expenses 0. Total expenses 8,607. Payroll and other services: program service expenses 1,965. Management and general expenses 937. Fundraising expenses 82. Total expenses 2,984.”

“The organization's governing body assumed responsibility for the oversight of the review of its financial statements and selection of an independent accountant. This process was not changed from the prior year.”