Home Planet Fund

“Effective january 18, 2024, and pursuant to the approval from its sole member, the organization's board of directors approved amendments to its certificate of incorporation and bylaws to provide that the members of the organization's board of directors shall serve as its member and to provide that all authority previously vested in the member, including the right to elect and remove directors and approve significant transactions, such as merger, consolidation, dissolution and approval of amendments to its certificate of incorporation and bylaws, shall be now be vested in and exercised by its board of directors.”

“The sole member of hpf was zzyzx foundation, inc. Until january 18, 2024. See form 990, part vi, line 4 disclosure for details regarding the amendments to the bylaws and articles of incorporation, which removed the sole member as of january 18, 2024.”

“Prior to effecting amendments to its certificate of incorporation and bylaws on january 18, 2024, the organization's sole member had the right to elect and remove directors and to approve other significant transactions, such as merger, consolidation, dissolution, and amendments to the organization's certificate of incorporation and bylaws. As noted, in response to part vi, section a, line 4 above, effective january 18, 2024, and with the approval of its sole member, the organization effected amendments to its certificate of incorporation and bylaws to provide that the members of its board of directors shall serve as the organization's member, and that all authority previously held and exercised by the member shall now be held and exercised by the board of directors.”

“See response to part vi, section a, line 7a above.”

“With assistance from legal counsel, the executive director reviews the completed form 990 internally for home planet fund. Form 990 is provided to all board members prior to filing.”

“Each director, officer, and executive shall annually sign a disclosure statement which affirms: (1) they have received a copy of the conflicts of interest policy and procedures; (2) they have agreed to comply with the policy; (3) they have disclosed all financial transactions of home planet fund in which they might have a financial benefit; and (4) they will notify the chair if they become aware of any error or material change in the information provided in their annual statement. Each member of the board (each, a "director") or any committee of the board is expected to use good judgment, to adhere to high ethical standards, and to conduct their affairs in such a manner as to avoid any actual or potential conflict between the director's personal interests or the interests of another entity, on the one hand, and the interests of home planet fund on the other hand. Both the fact and the appearance of a conflict of interest should be avoided. Transactions that provide financial benefit or compensation to directors, officers, or executive are not forbidden by the conflict of interest policy. Rather such transactions must be disclosed and reviewed and approved by the board or a board committee. A director, officer, or executive must disclose to the chair the existence of a financial benefit that might result from any proposed financial transaction involving home planet fund. The board may create a conflicts committee authorized to review transactions and to determine conflicts of interest where reliance on a committee is permitted by law and hpf's bylaws. The members of such conflicts committee must consist exclusively of directors who are not related to or subject to the control of the person disclosing the financial interest or potential conflict. Nevertheless, final responsibility for identifying and resolving conflicts of interest rests on the board. When a director, officer, executive or their family members has a conflict of interest or potential conflict of interest in a proposed transaction, the director, officer or executive shall: disclose such affiliation or arrangement in accordance with this policy; and, unless otherwise determined by the board, recuse themselves from any discussion or vote by the board regarding any arrangement between home planet fund and any such entity; provided, however, that the director, officer or executive may, at the request of the board, answer questions or provide additional information to the board regarding any such affiliation or arrangement. The board or committee's review of any conflict of interest transaction will require investigating and gathering information and data on comparable transactions or compensation arrangements and/or fair market value, and developing a report that adequately documents the basis for the board or committee's findings and determination. The board or committee may approve a financial transaction that provides a financial benefit to a director, officer, or executive only if it determines, upon review of the facts and results of its investigation, that the value of the financial benefit does not exceed the value received by the organization. For any matter in which a director receives a financial benefit, the following additional procedures and findings are required before the board or committee may approve the financial transaction, such body determines in good faith that a) the organization will enter into the financial transaction for its own benefit; b) financial transaction is fair and reasonable to the organization; and c) after reasonable investigation that organization could not have obtained a more advantageous arrangement with reasonable effort under the circumstances.”

“Home planet fund's board of directors has approved a compensation policy, which sets forth the board's review and approval of compensation and benefits provided to home planet fund's executives. The purpose of the policy is to ensure that the board carries out its responsibilities and that total compensation, including any bonus opportunities, paid to the executives is reasonable and is consistent with home planet fund's purposes. The policy further sets forth a process for the board to approve compensation following procedures under the tax law to ensure that compensation transactions do not result in excess benefit transactions, and specifically, if desired, to establish a "rebuttable presumption of reasonableness" with respect to any specific compensation arrangement. Specifically, to ensure compensation paid to its executives is reasonable, home planet fund will gather, or will, as applicable, direct a compensation consultant to gather, appropriate comparability data (e.g. Either published or specially conducted compensation surveys) that includes total compensation paid by similarly situated organizations for positions that are functionally comparable to each of the executives. Comparability data should cover employees with comparable responsibilities to the executives at a significant number of organizations, and should be sorted by a number of different variables, including: the size of the organization, the geographic location of the organization, the nature of the services the organization provides, whether the organization is a nonprofit or for profit, the level of experience and specific responsibilities of the employees surveyed, and the composition of the compensation packages offered to employees at those organizations. The board will then consider the significant terms of the arrangement with each executive including the total compensation to be paid and the executive's duties and responsibilities based upon the comparability data. The, the board will thoroughly review and discuss the comparability data to determine whether the total compensation for each of the executives is reasonable, taking into consideration the job duties of each position and the performance of each executive. If applicable, the board also will consider any opinions from compensation consultants concerning the reasonableness of executive compensation and any opinions obtained from legal or other consultants in their respective areas of expertise. With respect to other hpf-paid employees, the board has delegated the review and approval of such compensation arrangements to home planet fund's executive director, who will generally follow a process similar to that of the board described above.”

“Home planet fund makes its governing documents, conflict of interest policy and financial statements available to the public on its website and/or upon request”