Shared Ascent Fund

“The 990 is prepared by outside tax accountants, reviewed by management and the audit committee. It is then sent to all voting members before filing.”

“A conflict of interest policy covers officers and directors, who are required to disclose potential conflicts annually in writing and prior to any vote by the board of directors in which a conflict exists or appears to exist. The board of directors determines if an actual or apparent conflict exists and is responsible for any required review and action. In all cases, board members recuse themselves from voting in case of conflicts of interest. Additionally, a conflict of interest policy is included in the employee policy manual. Upon hire, employees are required to read it and acknowledge that they are familiar with and will observe the policy; actual, potential or perceived conflicts must be reported to executive management for review prior to the relevant decision.”

“Resources legacy fund (rlf) is an unrelated organization that works with saf. The rlf governance committee, on behalf of the rlf board, engaged an outside consultant to review the executive compensation of peers, to assess executive compensation, and to provide an independent opinion regarding the reasonableness of executive compensation. This process is documented. The positions of president, secretary, and treasurer were included in this assessment along with other key employees. This process is undertaken every 3 years and was last completed in 2024. Outside of this process, the president's compensation review is completed annually by the rlf governance committee and is documented.”

“Audited statements and 990 tax returns are available and downloadable from saf's website. Form 1023 is available upon request.”

“The organization makes its form 1023 available to the public upon request.”

“Shared ascent fund and resources legacy fund (rlf), an unrelated organization, are party to a cost sharing reimbursement agreement under which shared ascent fund reimburses rlf for direct and indirect costs, including personnel costs, incurred on behalf of shared ascent fund. As a part of that, shared ascent fund reimbursed rlf for personnel costs for matthew armsby, avi garbow, rosina bugarin, and helena choi, as well as other shared staff. Saf pays some payroll taxes directly; resource legacy fund satisfies the remaining employment tax-related obligations on behalf of saf. Rlf's compensation of $1,680 to matthew armsby, $19,632 to avi garbow, $21,926 to rosina bugarin, and $6,318 to helena choi, respectively, was reimbursed by shared ascent fund to rlf and has been reported on part vii of the return for those individuals.”