Anchor Impact Fund Inc

“The board of directors (the board) as the governing body of the organization, acting by a majority of all directors then in office, may designate one or more committees. Each committee is to consist of one or more of the directors of the corporation with such lawfully delegable powers and duties as the board thereby confers to serve at the pleasure of the board (each such committee, a board committee). The board may designate one or more directors as alternate members of any board committee, who may replace any absent or disqualified member. Any such board committee, to the extent provided in the resolution or committee charter approved by the board and subject to the provisions of law, shall have and may exercise all the powers and authority of the board in the management of the business and affairs of the corporation. Any committee composed of any voting members who are not directors shall be advisory in nature only.”

“The president will review the filing with the entire board upon completion and prior to its submission.”

“The organization's conflict of interest policy applies to all officers and directors. Any potential conflict is reviewed by the executive director and the board members not involved in the situation that gives rise to the perceived or potential conflict. If a conflict is determined, the individual or individual involved would not be permitted to vote on the matter.”

“Compensation for the executive director is based on discussions and deliberations at the board level and is based on reasonableness and informal assessment of compensation for similar organizations. The process described here was last completed in 2024.”

“Anchor impact fund makes its 990 available to entities upon request.”

“During the 2024 tax year, the organization began winding down its operations. The last contribution was received in may 2024, and program activities were significantly reduced thereafter.”