Open Technology Fund

“Form 990 is prepared by rsm using information furnished by otf. Once a draft is prepared, otf's president and/or coo reviews the draft to ensure its contents are accurate and complete. If necessary, modifications are made to the draft by rsm and reviewed by otf's president and/or coo. Once the review process is complete, otf's president documents their concurrence that the form 990 is accurate and complete via written communication to the director of finance before the coo and rsm sign off. Prior to filing, a copy of form 990 is shared with otf's board of directors.”

“Each director, officer, member of a committee with board-delegated powers, and key employee shall sign a statement annually which affirms that such person: has received a copy of the conflict of interest policy; has read and understands the conflict of interest policy; has agreed to comply with the conflict of interest policy; and understands that otf is a charitable organization and in order to maintain its federal tax exemption it must engage primarily in activities which accomplish one or more of its tax-exempt purposes. To ensure otf operates in a manner consistent with charitable purposes and does not engage in activities that could jeopardize its tax-exempt status, periodic reviews may be conducted. The periodic reviews may include the following subjects: a. Whether compensation arrangements and benefits are reasonable, based on competent survey information, and the result of arm's length bargaining; b. Whether partnerships, joint ventures, and arrangements with management organizations conform to otf's written policies, are properly recorded, reflect reasonable investment or payments for goods and services, further charitable purposes and do not result in inurement, impermissible private benefit or in an excess benefit transaction.”

“The upper limit of compensation for otf's president, the organization's highest-ranking officer, is established by otf's grant agreement with its federal funding agency, the u.s. Agency for global media (usagm). The agreement states that otf's president shall be compensated within the bounds of opm's compensation model for senior executive service. The calendar year 2023 rates were capped at $235,600 and the calendar year 2024 rates were capped at $246,400. In addition, otf commissioned a salary and benefits comparability study from an independent party who benchmarked otf's salary and benefits against other non-profit organizations and comparable private sector organizations. The study indicated that otf's president's compensation was at or slightly below the typical mid-range salary of similarly situated non-profit organizations. The basis for the compensation for otf's president was memorialized by the chair of otf's board of directors and notice to usagm in writing. Compensation for otf's other officers was determined based on the independent bench-marking study, as well as performance indicators. In addition, salaries of all otf employees are required by legislation to track closely with compensation for comparable positions within the federal government. Otf's president, on authority from the board of directors, used study results, performance indicators, and opm's general schedule to determine officer's salaries.”

“Otf makes available its 1023 application, which includes its conflict of interest policy, along with forms 990, for review and copying upon request for the same period as set forth in section 6104(d).”

“Otf engaged a professional employer organization, justworks, to provide personnel, benefit, and administrative services for the staff of the organization. Otf does not directly employ its personnel; all such services are provided through the justworks contract.”

“Fixed price contracts & agreements: program service expenses 43,384,340. Management and general expenses 128,680. Fundraising expenses 0. Total expenses 43,513,020.”