Pacific Institute

“Line 3 explanation - the organization has a contractual management agreement with agesong, which manages the corporate management responsibilities commonly performed by officers and key employees.”

“Line 11b explanation - form 990 is prepared by an outside tax professional. The form is then reviewed by the orgnaization's management, at least one member of the board of directors, and the chief financial officer. This group of individuals then discusses the contents of the return with the outside tax professional after a ful review (with modifications where necessary). A representative of management authorizes the final form 990, which is then e-filed with the internal revenue service. The tax return is provided to all members of the organization's voting body after filing.”

“Members of the board of directors review all potential confilicts of interest at least annually. The executive director and all board members are required to disclose (in writing) ptoential conflicts and any related party affiliations. Loans between the organizationa nd members of management and the board are strictly prohibited. The organization seeks full transparency of all relationships. Any potential conflicts (in fact or appearance) are discussed openly and resolved in accordance with the organization's policies and procedures.”

“Compensation of other high-level personnel and key employees is reviewed at least annually by members of management. Efforts are made to secure compensation data from industry sources in order to determine competitiveness and appropriateness of salaries and all related benefits. All decisions are then documented in personnel files. Members of the board of directors review the compensation of all high-level personnel annually in accordance with irs rules and regulations. Efforts are made to secure compensation data from industry sources in order to determien competitiveness and appropriateness of salaries. Every effort is made to ensure that the process is thorough and transparent in accordance with irs guidelines and the organization's polcies and procedures.”

“All of the organization'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 also available at the organization's office in san francisco, california.”