Evidence Action Inc.

“In april of 2020 the organization amended and restated its bylaws to clarify and update its provisions. The amended bylaws created a governance committee to propose a slate of nomination for directors who are to be voted on at the annual meeting, and will endeavor to strengthen the effectiveness of each board member.”

“The organization does not have any committees with authority to act on behalf of the governing body.”

“The form 990 was prepared by the outside accountants and reviewed by the ceo and cfo. A copy of the form 990 was provided to the audit and finance committee and to the board prior to filing with the irs.”

“At the beginning of each board meeting, participants are asked if they have any conflicts of interest in any matter that is required to be disclosed. In connection with any actual or possible conflict of interest, an interested person must disclose the existence of the financial interest and be given the opportunity to disclose all material facts to the directors and members of a committee considering the proposed transaction or arrangement. After disclosure of the financial interest and all material facts, and after any discussion with the interested person, he or she leaves the board or committee meeting while the determination of a conflict of interest is discussed and voted upon. The remaining board or committee members decide if a conflict of interest exists. For staff, the conflict of interest policy is included in the organization's global code of conduct packet, which is shared with staff upon commencement of employment and signed acknowledgements are obtained from each new employee. Senior staff are required to sign an annual conflict of interest disclosure.”

“The compensation review process for the chief executive officer is overseen and approved by the board. Comparable data is used and the process is documented. The last compensation review took place place in december 2020.”

“The organization makes its governing documents, conflict of interest policy and financial statements available to the public upon request.”

“Evidence action's values are: - evidence first. We are led by the facts. We go where the data takes us. Robust, rigorous evidence informs our choices and decisions. - think big, act urgently. We are unrelenting in our pursuit of results at scale. We know that poverty does not wait. We act so that the best ideas deliver benefit to millions. - iterate, again. We reflect constantly and adapt accordingly. We test, measure, and improve to ensure impact. If we can do something, we can do it better. - economize without compromise. The biggest impact at the lowest cost is what we are after. We ensure value for money for all our stakeholders, but know there is no substitute for quality. - challenge convention. We ask "why and "why not" in equal measure. We are sincere in our skepticism and incessant in our search for solutions. - passion throughout. We are driven to lessen inequality, to improve lives. We take action, converting impatience into impact.”

“Consultants: general: program service expenses 3,449,398. Management and general expenses 104,380. Fundraising expenses 3,000. Total expenses 3,556,778. Consultants: hr/operations: program service expenses 305. Management and general expenses 51,248. Fundraising expenses 0. Total expenses 51,553. Consultants: survey/research: program service expenses 449,992. Management and general expenses 0. Fundraising expenses 0. Total expenses 449,992. Consultants: technical: program service expenses 51,275. Management and general expenses 35,061. Fundraising expenses 11,931. Total expenses 98,267. Graphic design and media production: program service expenses 16,287. Management and general expenses 4,490. Fundraising expenses 0. Total expenses 20,777. Intern and volunteer stipends: program service expenses 109. Management and general expenses 0. Fundraising expenses 0. Total expenses 109. Allocated costs: contract services: program service expenses 68,437. Management and general expenses -119,175. Fundraising expenses 0. Total expenses -50,738.”

“On may 1, 2020, evidence action received loan proceeds in the amount of $500,000 under the paycheck protection program. The promissory note calls for monthly principal and interest payments amortized over the term of the promissory note with a deferral of payments for the first six months. Under the coronavirus aid, relief, and economic security act (cares act), the promissory note may be forgiven by the small business administration in whole or in part. Evidence action used the proceeds for purposes consistent with the paycheck protection program and believes that its use of the loan proceeds will meet the conditions for forgiveness of the loan. Evidence action applied for forgiveness after completing the 24-week period. On june 29, 2021, evidence action received full forgiveness of the entire loan payable. Evidence action will record revenue from debt extinguishment during the period that forgiveness is approved.”

“Deobligation of grant funds recognized as income in prior years -400,391.”