Myanmar Impact Fund

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

“Prior to the Board of Directors executing an action on an Agreement or Transaction involving a Conflict of Interest, any 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, and such disclosure shall be reflected in the meeting minutes.”

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

“The Myanmar Impact Fund (MIF) cannot use targeted donations for its own programs and has no right to use these funds or derive any benefit from them (re: 2021 i990 Page 77, Gross Receipts, Gross receipts when acting as an agent). As such, these targeted donations are treated as funds held on behalf of the targeted donation donors, and MIF carries out its humanitarian support activities strictly in accordance with the targeted donation project objectives for a specific category of beneficiaries. MIF follows an accounting system that treats targeted donation receipts as funds held on behalf of donors and records them as payables until MIF provides support services to beneficiaries. Only upon receipt of agreed reports with supporting documents from implementing partners in Myanmar are corresponding expenses recorded as implemented expenditures against corresponding payables. MIF has implemented two targeted donation projects during the year: (1) Support to Vulnerable Distressed Persons (SDVP) in Embassies, Project 4 Expenses delivered $36,375.85; and (2) Support to Vulnerable Distressed Persons (SDVP), Auditor-General's Office, Project 5 Expenses delivered $4,015. MIF did not charge any administrative fee or overhead charge on these targeted donation projects. Administrative expenses were paid out of non-targeted donations to MIF's programs. MIF anticipates an increase in program revenues and services as operations develop in the medium and long term.”

“The total program expenses of $4,522.56 include MIF incorporating expenses for $378, communications for $979.88, and special service fees for a financial consultant for $3,164.68.”