| Form 990, Part V, Line 2A |
THE INDIVIDUALS PERFORMING SERVICES FOR MEDIA DEVELOPMENT Investment FUND, INC (MDIF) ARE LEASED EMPLOYEES FROM AN UNRELATED ORGANIZATION, OPEN SOCIETY FOUNDATIONS, INC (OSF). MDIF PAYS OSF A MANGAGEMENT AND ADMINISTRATIVE FEE TO COVER EMPLOYEE COSTS, INCLUDING SALARY, BENEFITS AND OTHER ANCILLARY COSTS. TEN EMPLOYEES PROVIDING SERVICES TO MDIF RECEIVE THEIR W-2 FROM OSF. These individuals are not included on PART V, LINE 2A. |
| FORM 990, Part VI, Line 11 |
THE FORM 990 HAS BEEN PROVIDED TO THE AUDIT COMMITTEE OF THE BOARD OF DIRECTORS FOR APPROVAL PRIOR TO FILING. ONCE APPROVED, A COPY OF THE FORM 990 WAS PROVIDED TO THE FULL BOARD. THE FORM 990 WAS PREPARED BY A NATIONALLY RENOWNED ACCOUNTING FIRM AND REVIEWED IN DETAIL BY THE FUND'S MANAGING DIRECTOR AND ASSISTANT TREASURER. |
| FORM 990, Part VI, Line 12C |
Each officer, director, trustee and key employee of MDIF is required to annually disclose any conflicts of interest that arise by virtue of their employment, board service, or position with the College. MDIF monitors compliance with its conflict of interest policy through an annual questionnaire/disclosure statement that is distributed to these individuals. Potential conflicts are investigated immediately. |
| FORM 990, Part VI, Line 15A |
THE TOP MANAGEMENT OFFICAL'S SALARY IS DETERMINED BY THE MDIF BOARD OF DIRECTORS. MDIF UNDERTAKES A LENGTHY PROCESS TO ENSURE THAT THE COMPENSATION IT PAYS IS REASONABLE. IN RELEVANT PART, THE BOARD OF DIRECTORS utilizes A COMPENSATION COMMITTEE COMPRISED OF Independent PERSONS THAT HAVE NO PERSONAL interest IN THE PROPOSED COMPENSATION ARRANGEMENT. The compensation committee may use an independent compensation consultant to advise on the appropriate compensation levels for the top management official. The compensation consultant uses benchmarking data that documents the compensation of persons holding similar positions in similar organizations. Once the compensation consultant has made its recommendations, the MDIF compensation committee approves the compensation. This final determination is then documented in committee minutes. |
| Form 990, Part VI, Line 15B |
MDIF undertakes the same exact procedure for its officers and key employees as it does for its top management official. The only difference in the process is that the CEO will make the final determination about the officers' salaries. |
| Form 990, Part VI, Line 19 |
The taxpayer makes its Form 990 and Form 1023 available to the public by retaining a copy of each at the addresses listed on Page 1 of this return. Any individual requesting a copy of these documents is provided that copy on the same business day. The Organization's Form 990 is also available for public inspection on www.guidestar.org. The Organization's governing documents, conflict of interest policy, and financial statements are available at the public request and at management's discretion. |
| PART XI, Line 9 |
EQUITY IN NET EARNINGS OF INVESTEES $(517,751) Foreign Currency Translation loss $(249,270) Adjustment for provision for doubtful program-related investments, net $(3,628,724) Loss due to currency exchange rate $(481,254) -------------------------------------------------------- TOTAL: ($4,876,999) |
Attach to Form 990 or 990-EZ.