Terraclear Foundation

“The form 990 as prepared by the cpa firm will be reviewed by the governing body prior to filing.”

“Terraclear foundation's policy requires an annual review and signed acknowledgement of the conflicts of interest policy from each board member. The acknowledgment means the board member has reviewed the policy, will comply with the policy, and disclose any necessary information to identify if any conflicts of interest exist. Further, board members must always disclose any conflict of interest on matters that the board is considering voting on. The board member with the conflict of interest must leave the meeting during the discussion of, and the vote on, the transaction or arrangement involving the possible conflict of interest. This information is maintained within the board meeting minutes and tracked by the president of the board.”

“The board reviewed publicly available benchmark compensation data for the executive director role of similarly sized non-profits on job search engines such as glassdoor, indeed, and salary.com. These websites provide salary ranges and total compensation information which can be adjusted for experience and location. The board did not publish the salary range with the job description, but confirmed the salary range by requesting salary expectations from candidates applying for the role. The board approved the executive director's salary along with the max qsehra benefit and 20 days paid time off. The board agreed to review the executive director's salary on an annual basis near the executive director's anniversary date. For the first three years, the board set the expectation of annual increases of approximately 3% which could be more or less depending on factors such as inflation and market conditions. The board also set the expectation that the foundation would continue to pay the max qsehra benefit according to the irs limits.”

“All governing documents are available upon request. Terraclear foundation will post form 990 on its website. Reviewed or audited financial statements are made available upon request.”

“The foundation is dedicated to ensuring access to clean water, safeguarding child rights, and protecting the environment. Its purpose is to promote charitable, social, and development-oriented activities, particularly in southeast asia.”

“Flood relief - in 2024, laos experienced widespread flooding due to unusually heavy monsoon rainfall along with typhoons. According to unicef, as of october 2024, almost 200,000 people were impacted by flooding and access to safe water and sanitation was critically limited for 92,000 people across the flood affected regions. Terraclear foundation supported the distribution of 200 filters to families impacted by flooding as a way to provide access to clean water in a critical time of need.”