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.”

“Silvia yueh and stephanie tan are sister-in-laws.”

“His holiness 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 sakya trizin. All non-teacher directors shall be appointed by his holiness ratna vajra rinpoche. If his holiness is no longer a spiritual leader of the foundation, such appointments shall be made by his successor(s).”

“The foundation does not have any committees with broad authority to act on behalf of the govening 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 directors 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 sachen foundation on a pro-bono basis. There are no employees and none of the officers receive 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 medina, minnesota (for a physical inspection).”

“The finance planning and investment committee were in charge of the selection and oversight of the independent accountant and provided information for the financial statement audit. This process has not changed from the prior year.”