Myanmar Impact Fund

“Part VI lines 11b and 19: The Board of Directors of MIF reviewed the financial statements and the Form 990 and the accuracy and effectiveness of the form in conveying the organization's mission, activities, accomplishments, finances, compensation, and business relationships and transactions, presented by its working group on financial matters. The Board considered the appropriateness of transactions recorded, and activities carried out and approved the financial statements and the Form 990.”

“Before the Board of Directors execute an action on an Agreement or Transaction involving a Conflict of Interest, a director who may have a Conflict of Interest and who is in attendance at the meeting shall disclose all facts and material to the Board of Directors. Such disclosure shall be reflected in the minutes of the meeting.”

“The Myanmar Impact Fund will make its governing documents, conflict of interest policy, and financial statements available to the public during the tax year upon request.”

“Part III, Line 4a (cont'd): In the accounting system of MIF, Targeted Donation receipts are treated as funds held on behalf of the donors and are recorded as payables until MIF delivers support services to the beneficiaries. Only when MIF receives the agreed reports with supporting documents from implementing partners inside Myanmar, corresponding expenses are recorded as implemented expenditures against corresponding payables. During the year, MIF has implemented the following targeted donation projects: (1) Support to Vulnerable Distressed Persons (SDVP) in the Yangon region, Project 1 Expenses delivered $7,118; (2) Support to Vulnerable Distressed Persons (SDVP) in Dawbon township, Project 2 Expenses delivered $3,650; (3) Support to Vulnerable Distressed Persons (SDVP) in Embassies, Project 4 Expenses delivered $70,920; and (4) Support to Vulnerable Distressed Persons (SDVP), Auditor-General's Office, Project 5 Expenses delivered $5,253. MIF did not charge any administrative fee or overhead charge on these targeted donation projects. Any administrative expenses were paid out of non-targeted donations to MIF's programs. In the medium and long term, MIF program revenues are expected to increase and so are the program services as the operations develop further and further.”

“Total program expenses are: (1) MIF incorporating expenses for $1,103; (2) Telecommunications for $240; (3) Bank charges for $825 for the total of $2,168.”