Ipi Action Fund Inc

“Conflict of Interest Policy is distributed annually to all directors, officers, and members of board committees. All covered individuals sign an annual acknowledgement that they have received a copy of the Policy, understand it, and agree to abide by its terms. To ensure the Corporation operates in a manner consistent with exempt purposes and does not engage in activities that could jeopardize its tax-exempt status, periodic reviews may be conducted. The Corporation may, but need not, use outside advisors to provide advice for periodic reviews.”

“All governing documents made available in electronic format upon request.”

“Form 990 is reviewed in detail by the president for comments/additional information provided to the tax preparer. Final form 990 is provided to the entire board for review prior to electronic filing.”

“Katherine Gehl, a director and President of IPI ACTION FUND, INC., is a member of Venn Innovations. Venn Innovations offers the administrative support through its employees. Venn Innovations employees include certain officers and directors of Institute FOR Political Innovation. Reportable Compensation from the organization is paid indirectly by Venn Innovation. The 2021 total invoiced by Venn of $282,787 was paid by Katherine Gehl for the benefit of IPI Action Fund and recorded as a contribution. That is, Ms. Gehl paid KMG Management's invoice and did not seek reimbursement of these expenses that she paid on behalf of IPIAF.”

“KATHERINE GEHL IS THE SOLE OWNER OF KMG MANAGEMENT LLC DBA VENN INNOVATIONS WHICH PROVIDES ADMISTRATIVE SUPPORT, INCLUDING BOOKKEEPING AND OTHER OVERHEAD FUNCTIONS, TO IPI ACTION FUND AT FAIR MARKET VALUE. THIS RESULTING BUSINESS TRANSACTION RESULTS IN GEHLS LACK OF INDEPENDENCE AS A VOTING MEMBER OF THE GOVERNING BODY. Ms. Gehl acted in accordance with the organization's conflict of interest policy to ensure that these actions were subject to independent oversight and review.”

“As described on this Schedule O, these individuals were employed by KMG Management. The amounts listed are what KMG Management paid in total wages, not what KMG Management invoiced or that Institute for Political Innovation or IPI Action Fund paid for their respective services.”