America'S Frontier Fund

“Gilman louie and joanne isham serve on a seperate organization's governing board.”

“Changes to the original bylaws (september 2021 to september 2022): 1. The new bylaws remove the power of the president to establish a principal office for aff. Only the board has that authority now. 2. The new bylaws remove the requirement to have a registered office and registered agent in delaware. 3. The new bylaws remove the minimum and maximum number of board members that aff can have, as well as the requirement to stipulate (from time to time) a fixed and exact number of board members. The minimum was 1, while the maximum was 15. There is no limitation now. 4. In the new bylaws, there are no longer provisions and procedures for creating and operating committees. Instead, an executive committee is required by issuance of a charter. The executive committee "shall have (and may exercise) all of the inherent and vested authorities, powers, rights, and responsibilities of the board." 5. The new bylaws delineate the organization, powers, procedures, duties, and responsibilities of the executive committee. 6. The new bylaws specifically vests in the executive committee the power to appoint, remove, fill vacancies, and fill newly created directorships. The power is no longer enumerated under the section detailing the powers of the board of directors. 7. In the new bylaws, the executive committee determines the compensation for the ceo, president, and cfo. 8. The new bylaws change the tenure of a director from no more than 5 years to a fixed term of 3 years unless determined otherwise by the executive committee. 9. In the new bylaws, there is no longer an enumerated procedure for a director's resignation. 10. In the new bylaws, there is no longer a requirement for regular board meetings, in addition to the at least once annual meeting. 11. In the new bylaws, there is no longer a requirement to elect board members and officers at the at least once annual board meeting. 12. In the new bylaws, only the board chair or the ceo can call a special board meeting. Previously, the board chair, president, any two directors, or a sole director in office could call a special board meeting. 13. In the new bylaws, one business day is required as notice prior to a board meeting. Previously, the requirement was 24 hours. 14. In the new bylaws, there are no longer rules or procedures pertaining to a waiver of notice regarding board meetings. 15. In the new bylaws, the definition of a quorum is a majority of directors, consisting of at least five directors. Previously, the definition was limited to a majority of directors. 16. In the new bylaws, there are no longer rules and procedures for adjourning a board meeting. 17. In the new bylaws, the position of vice chair is specifically delineated with associated duties and responsibilities. 18. In the new bylaws, the vice chair will preside at board meetings in the absence of the board chair. Previously, the vice chair was not an enumerated role in the bylaws, and another director, selected by the board chair, would preside instead. 19. In the new bylaws, there is no mention of assistant secretaries and their duties. 20. In the new bylaws, the board chair, vice chair, and secretary may delegate their duties to other directors or aff staff. Previously, the board chair and secretary (the vice chair was not enacted) could only delegate their duties to another officer or director. 21. In the new bylaws, the board of directors may vote to provide compensation to directors beyond reimbursement of reasonable expenses and compensation for services to the corporation separate from director duties and responsibilities. Previously, additional compensation was prohibited. 22. In the new bylaws, there is no longer a stipulation that board action to remove an officer is subject to the employment contract rights of that officer. 23. In the new bylaws, there is no longer a procedure outlining how an officer should resign. Additionally, there is no longer a stipulation that all resignations are "without prejudice to th”

“The directors of aff are the members of the corporation for all purposes.”

“Members of the board of directors, as members of the corporation, have the power to elect board members by a majority vote of the directors present at a meeting for which a quorum exists.”

“The form 990 was reviewed by the president and chief operation officer prior to the filing.”

“The conflict of interest policy covers directors, officers, all employees, agents, or other persons with substantial influence or authority within the organization, as may be determined by the board or committee from time to time. In connection with each actual and possible conflict of interest, a covered person must promply disclose to the board of directors, committee or board designeee the existnece and nature of his or her financial interest or any disclosable relationship. All newly appointed or elected board members or officers shall disclose all known conflicts of interest and disclosable relationships upon assumption of their duties. And should a conflict of interest or disclosable relationship develop, must immediately disclose to the board, committee or board designee such actual or possible conflict of interest or disclosable relationship. After a potential conflict of interest has been disclosed, the board or committeee shall determine whether a conflict of interest exists. If the board or committee determines that a covered person has a financial interest, then it will be investigated and determined by a majority vote of the disinterested board or committee members wehther the transaction or arrangement is in the organization's best interests. Covered persons are required to review and certify compliance with the policy on on annual basis.”

“Compensation is determined by the board of trustees based on all relevant facts and circumstances.”

“The organization's governing documents, conflict of interest policy, and financial statements are made available to the public when required by federal and state law.”

“Certain informational areas of the return have been updated to properly present information further applicable to the year ended 2022. The areas of the form 990 more significantly updated include updates to the organization's governance policies in part vi, section b, updates to the board listing in part vii, and additional information regarding travel on schedule j.”

“The organization uses a professional employer organization (peo) for the filing of form w-2. As such, the organization itself does not issue any forms w-2 using its ein. The organization does, however, have 21 employees who receive w-2s through the peo paymaster.”

“Strategic program development: program service expenses 90,850. Management and general expenses 567,235. Fundraising expenses 0. Total expenses 658,085. Payroll and human resources: program service expenses 8,741. Management and general expenses 10,574. Fundraising expenses 740. Total expenses 20,055.”