First Draft News Inc

“Executive director, claire wardle, and the now former treasurer, ben sargent, have a family relationship.”

“The organization has a sole member, eyewitness media hub, ltd. A not-for-profit organization in the united kingdom.”

“The board of directors of the organization are elected by the sole member.”

“The decision to remove a member of the board of directors, or to amend the bylaws of the organization is reserved to the sole member of the organization.”

“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 operations director for approval. If changes are required, the organization will forward these changes to the accounting firm and a final version will be distributed to all board members prior to submission to the irs.”

“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).”

“The process for determining compensation for the organization's top management official includes the use of a salary benchmark report prepared by an outside accounting firm to ensure that the compensation is in line with others in similar positions. The process last occurred in 2019 and was documented in the records of the organization.”

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

“During the year, the organization began carrying out two new programs, "research and insights and "local news fellows". Please refer to form 990, part iii, lines 4a and 4b, respectively, for further details regarding these programs.”

“Freelance journalists : program service expenses 102,500. Management and general expenses 0. Fundraising expenses 0. Total expenses 102,500. Payroll services: program service expenses 2,821. Management and general expenses 781. Fundraising expenses 357. Total expenses 3,959. Event management services: program service expenses 145,159. Management and general expenses 2,525. Fundraising expenses 0. Total expenses 147,684. Project management services: program service expenses 60,000. Management and general expenses 0. Fundraising expenses 0. Total expenses 60,000. Other consultants: program service expenses 55,336. Management and general expenses 0. Fundraising expenses 0. Total expenses 55,336.”

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