Sachen Foundation

“In the case of a tie, the chair shall cast a second vote (a "casting vote") to determine the outcome of the voting.”

“The foundation amended its articles of incorporation and bylaws for the following: the specific purposes for which this corporation is organized include: (a) to establish a religious organization to preserve and promote the teachings of the sakya tradition of tibetan buddhism throughout the world; (b) to preserve, translate, and publish materials of and concerning the sakya tradition; (c) to support retreat centers, teaching centers, shedras, institutions, schools, colleges, and universities; monasteries and nunneries; monks and nuns; and teachers and lay practitioners of the sakya tradition, including, but not limited to, support for traditional education programs and scholarships for additional training in relevant areas; (d) to engage in other activities related to educating the public about buddhist philosophy and religious principles in general and the tibetan sakya tradition in particular; (e) to carry out charitable and humanitarian work consistent with the objectives and purposes of the corporation; and (f) to do all things incidental to clauses (a) through (e).”

“His eminence ratna vajra rinpoche shall serve as the chair of the board of directors. If he is unable to serve or declines to serve as chair, he shall appoint the chair. If for any reason the last serving chair does not appoint a new chair, the new chair shall be appointed by the spiritual leader(s) who succeed(s) his eminence raha vajra rinpoche. All non-teacher directors shall be appointed by his eminence ratna vajra rinpoche. If his eminence is no longer a spiritual leader of the foundation, such appointments shall be made by his successor(s).”

“Except as otherwise provided, all actions of the board of directors shall require the affirmative approval of at least one of the directors of the teacher category and a simple majority of the directors of the non-teacher category. In the case of a tie, the chair shall cast a second vote (a "casting vote") to determine the outcome of the voting. The board of directors shall not have the power to adopt a policy, approve, or carry out an action that the foundation's spiritual leader(s) determines to be inconsistent with the teachings and purposes of the sakya school. The spiritual leader(s) or his or her authorized representative shall be informed of all policies, plans, and activities of the foundation without an delay and shall have the unlimited power to override or veto any decisions of the board of directors. Any amendment to the articles of incorporation or bylaws must be approved by any two of the directors of the teacher category and a majority of the directors of the non-teacher category.”

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

“The form 990 is prepared by an outside tax professional. The form 990 is then reviewed by the organization's management. After a full review, the final version of the tax return is provided to all members of the organization's governing body. A representative of management authorizes the final form 990 which is then e-filed with the internal revenue service.”

“Members of the board of trustees review all potential conflicts of interest at least annually. All board members discuss (and are required to disclose) potential conflicts and any related party affiliations. Loans between the organization and members of management and the board are strictly prohibited. The organization seeks full transparency on all relationships. Any potential conflicts (in fact or appearance) are discussed openly and resolved in accordance with the organization's policies and procedures. Any director individually may be a party to, or interested in, any contract or transaction with the foundation, provided that (1) the interest of the director is disclosed to the board; (2) the interested director may not vote in favor of the transaction, although his/her presence may be counted toward a quorum; and (3) the board approves the transaction at a regular or special meeting. The foundation documents proceedings in the meeting minutes.”

“All of the top management officials and board members provide services to the sakya foundation on a pro-bono basis. There are no employees and none of the officers receives compensation.”

“All of the foundation's governing documents, financial statements and other legal filings are maintained in a secure environment and held available for inspection by tax authorities and the general public. Tax returns are posted annually to www.guidestar.org (where it is available for viewing as an electronic copy) and are also available at the foundation's office in friday harbor, washington (for a physical inspection).”

“The foundation's text/sadhana program was transferred to the sakya society, a 501(c)(3) nonprofit corporation organized under the laws of the state of washington. The board unanimously approved a transfer of all of the program's paper and computer files related to texts and sadhanas associated with the teachings and initiations offered by jetsun kushok rinpoche to sakya society, closing the program as of the date of the board meeting, may 16, 2015. All future income and expenses related to the program are the property or obligation of sakya society.”