FORM 990 |
IN 2020, BLOCKCHAIN FOR ENERGY (B4E) HIRED AN EXECUTIVE DIRECTOR AS AN INDEPENDENT CONTRACTOR. GINO VALVERDO WAS CONTRACTED AS EXECUTIVE DIRECTOR THROUGH GANAS CONSULTING, INC, OF WHICH HE IS MAJORITY OWNER. THE FEES PAID BY B4E FOR THESE SERVICES ARE INCLUDED IN 990 PART IX LINE 11G OTHER FEES FOR SERVICES. |
FORM 990, PAGE 1, PART I, LINE 6 |
THE BOARD OF DIRECTORS ARE VOLUNTEERS THAT GUIDE THE ORGANIZATION IN THEIR OPERATIONS. AS WELL, ADDITIONAL VOLUNTEERS FROM THE MEMBER ORGANIZATIONS SERVE ON COMMITTEES TO ADVISE, COORDINATE AND GAIN COMPETENCIES IN BLOCKCHAIN TECHNOLOGY AND ITS APPLICATION. THE VOLUNTEERS ALSO ASSISTED IN THE ESTABLISHMENT OF THE CONSORTIUM AS THIS WAS THE FIRST YEAR IN OPERATION. BLOCKCHAIN FOR ENERGY IS ENABLING THEIR MEMBERS TO BE PART OF CREATING AN INDUSTRY ECOSYSTEM WHICH ALLOWS PARTICIPANTS TO TEST, USE AND IMPROVE THE DEVELOPED SOLUTIONS. THE INPUT FROM MEMBERS THROUGH THEIR VOLUNTEERS ALLOWS ALL PARTIES TO COLLABORATE AND DEVELOP TOGETHER TO ENSURE THE PROJECTS' VALIDITY FOR THE BENEFIT OF THE INDUSTRY AS A WHOLE. |
FORM 990, PAGE 6, PART VI |
THE BOARD TREASURER/SECRETARY DOES NOT HAVE A VOTE. |
FORM 990, PAGE 6, PART VI, LINE 6 |
THE ORGANIZATION HAS 3 MEMBERSHIP CLASSES BASED UPON THEIR ROLE IN THE ENERGY INDUSTRY, WHETHER BEING AN OPERATOR, A VENDOR/SUPPLIER, OR GENERAL PARTICIPANT. BASED UPON THESE MEMBERSHIP CLASSES, THE MEMBER WILL HAVE SPECIFIED APPOINTMENT AND VOTING RIGHTS FOR THE BOARD OF DIRECTORS, AS WELL AS RESPECTIVE PARTICIPATION RIGHTS IN PROJECTS AND PROPOSALS TO BRING TO THE BOARD FOR DECISIONS. |
FORM 990, PAGE 6, PART VI, LINE 7A |
THE BOARD OF DIRECTORS ARE APPOINTED BY THE MEMBERS OF THE ORGANIZATION IN ACCORDANCE WITH THEIR RESPECTIVE MEMBERSHIP LEVEL, AS SET FORTH IN THE BY- LAWS OF THE ORGANIZATION. |
FORM 990, PAGE 6, PART VI, LINE 11B |
THE 990 IS PREPARED BY A CPA EXPERIENCED IN PREPARING 990S; THE EXECUTIVE DIRECTOR AND THE BOARD REVIEW THE DRAFT RETURN AND CHANGES ARE MADE AS NEEDED. ONCE ALL QUESTIONS HAVE BEEN ANSWERED, THE 990 WILL BE E-FILED AND A COPY OF THE FINAL RETURN SENT TO THE BOARD. |
FORM 990, PAGE 6, PART VI, LINE 12C |
ALL BOARD MEMBERS ARE REQUIRED TO COMMUNICATE ANY CONFLICT OR POTENTIAL CONFLICT OF INTEREST TO THE REMAINING BOARD MEMBERS, WHO WILL EVALUATE THE ARRANGEMENT AND DECIDE THE APPROPRIATE ACTION NECESSARY. |
FORM 990, PAGE 6, PART VI, LINE 15A |
THE BOARD REVIEWS AND APPROVES THE AMOUNT PAID FOR THE EXECUTIVE DIRECTOR'S POSITION. |
FORM 990, PAGE 6, PART VI, LINE 19 |
DOCUMENTS ARE MADE AVAILABLE UPON REQUEST. |
FORM 990, PART IX, LINE 11G |
EXECUTIVE DIRECTOR -CONTRACT 18,038 6,012 0 BRANDING/MARKETING 2,727 909 0 TOTAL 20,765 6,921 0 |