2015-07-14T10:36:25-05:00 2014-12-31 582676261 Rogers & Company PLLC 8300 Boone Boulevard Suite 600 Vienna VA 22182 990 2014-01-01 521541501 Greenpeace Inc GREE 2024621177 702 H Street NW No 300 Washington DC 20001 Mark Royal Conheady Chief Financial Officer 2024621177 2015-07-14 1 Lori A Collingsworth P00639819 7038930300 2015-07-06 2014 2016-02-25 16:41:14Z Anne Marie Leonard 702 H Street NW No 300 Washington DC 20001 33528832 0 X www.greenpeaceusa.org X 1987 CA To promote the protection and preservation of the environment 7 6 2745 6026 0 0 33251555 33462321 63705 3515 5285 2518 50939 60196 33371484 33528550 78507 218495 0 0 19479756 21512642 548720 841539 4326296 12838267 13171621 32945250 35744297 426234 -2215747 6335718 4583575 4733969 5197617 1601749 -614042 X Greenpeace is an independent campaigning organization that uses peaceful,creative confrontation to expose global environmental problems, and to force solutions that are essential to a green and peaceful future. 0 0 7029388 84810 Climate (Energy & Arctic): Greenpeace is campaigning for a rapid and just transition to a clean energy economy. Our world is hotter now than it has been in two thousand years and, if current trends continue, by the end of the century the global temperature will likely climb higher than at any time in the past two million years. The Arctic is warming faster than the rest of the globe and is experiencing some of the most severe climate impacts on the planet. In the U.S., coal-fired power plants are the single largest source of global warming pollution. The expansion of U.S. coal exports threatens to become the country's single largest new source of carbon pollution. See Schedule O for continuation. 5839006 16881 Oceans - Greenpeace is campaigning for sustainable fisheries and the creation of a network of ocean sanctuaries (marine reserves). Destructive fishing and over fishing are among the most significant threats facing the world's oceans. In addition to wreaking havoc on fish populations, destructive fishing practices harm marine birds and mammals, coastal fishing grounds that many communities rely on, and deep water habitats that are essential for many species to survive. See Schedule O for continuation. 4563997 6067 Forests - Greenpeace is campaigning for Zero Deforestation in the world's ancient forests. As much as 80% of the world's forests have been degraded or destroyed. Ancient forests are home to two-thirds of all plant and animal species found on land, and millions of people rely on them for survival. Forests also store vast amounts of carbon in their trees and soil, which is released into the atmosphere when they are burned or cleared. Currently, deforestation is responsible for 10-20% of global greenhouse gas emissions, second only to the fossil fuel sector. See Schedule O for continuation. 7298311 93322 34263 Outreach & Education - Greenpeace, Inc. furthers its mission of protecting the environment through research, public information and education, outreach and advocacy, and litigation. In 2014, Greenpeace Inc used several novel approaches for engaging new constituencies and mobilizing even more people overall to help achieve wins for the environment. These include:Movement Support Hub - In early 2014, Greenpeace launched the Movement Support Hub, an initiative designed to proactively build relationships with ally organizations in the environmental justice and climate justice movements and identify ways we can support their work. This is a concrete programmatic offering that aligns with our diversity and inclusion initiative because it broadens our organizational connections beyond the groups directly engaged in our current campaign work, which increases trust and visibility for Greenpeace in broader circles and allows us to engage with more diverse groups. In addition, it gives us capacity to respond to emerging movement moments and make sure Greenpeace has a presence. Over the course of 2014, the Movement Support Hub provided direct support to 30 ally organizations, including training, facilitation, coaching, and actions support. Mobilizing for the People's March - On September 21st, more than 400,000 people joined the largest climate march in history - the People's Climate March - two days before the UN Climate Summit in New York City. The march brought together a great diversity of voices and people in the climate movement, and helped elevate the voices of those who bear the brunt of climate change impacts. Greenpeace Inc contributed in many ways, including by providing support to local groups, turning out 1,500 march participants, and hosting an Arctic Meet-up for 200 activists the evening before the march. Greenpeace was the only NGO tweeting live from on the ground during the march. Our tweets reached more than half a million people. We reached millions more, mostly under age 25, by partnering with social media celebrity Jerome Jarre, who posted pictures via Snapchat. Significant US media coverage includes: New York Times, Salon , LA Times, Brand Channel, Bloomberg, Democracy Now! (starting at 1:33:30), Daily Kos, and Inequality.org, a leading blog on income inequality.Building Volunteer Skills and Collaboration - Greenpeace Inc's National Activist Network hosted its annual Activist Summit, an in-person training for more than 50 of our most committed volunteer leaders. At the Summit, volunteers learned about important environmental issues, built their organizing skills, and renewed relationships and made new connections that will help them sustain themselves as activists for years to come. Following the Summit, volunteer activists launched local campaigns for the Oceans and Arctic and worked with local influencers, such as politicians, entrepreneurs and celebrities, to sign onto the Arctic Declaration. Students at 10 college campuses also worked to get their dining services to switch to sustainable seafood.Reaching New Audiences with engaging online videos - Millions of ocean supporters celebrated Cephalopod Week by watching a short clip of squid attacking our sub during the 2007 Greenpeace Bering Sea Expedition. The video was viewed more than 6 million times in one week on Vine, a platform for six-second videos. Other outlets re-posted the clip and media picked it up, including CBC and Al Jazeera. We used the interest to plug the canyons campaign and link to our blog, Bering Sea canyons website, and marine sanctuaries petition. Greenpeace also used Shark Week this year to highlight the dangers facing sharks from industrial fishing, specifically focusing on shark fining and the role that Bumble Bee plays in the practice. More than 70,000 people took action online to protect sharks, and we were able to successfully inject a conservation message into the conversation over social media.Capitalizing on an opportunity that presented itself out of thin air, we created Marmot licks GoPro, which became an internet sensation. Backstory: to mark the "Leasing Coal, Fueling Climate Change" report release, we planned to use time lapse video to help demonstrate the impacts of global warming on Glacier National Park. The camera captured the attention of a curious marmot that nosed around the camera. We turned the footage into "Marmot licks GoPro," which got more than 2 million views on YouTube, nearly 2,000 views on Facebook, and 18,000 social mentions. Media from London to Sydney picked up the video, and Ellen DeGeneres tweeted and shared it with her 31 million followers. We proactively decided to keep the Greenpeace branding to a minimum on the video in order to make it highly sharable, but embedded our campaign message in the caption and included a link to our coal exports petition. This approach proved effective both for facilitating the distribution of the video and reaching new audiences.Activating "super users" - As part of our Green Internet campaign effort to get Amazon Web Services to go green, we recruited Pinterest super users, with an aggregate reach of nearly 5 million Pinterest users, to take part by creating special Posts for their Pinterest page asking the company to commit to become green. We then asked our supporters to give Amazon's new Fire Phone 1 star reviews due to the company's dirty energy use, which more than 1600 people did (the phone's rating to dropped by one star shortly afterward). We also released a series of online #clickclean videos starring Reggie Watts, an innovative musical comedian. Reggie's unique brand of comedy helped us reach new audiences and raise awareness about how we power the internet. The videos received more than 130,000 views and resulted in nearly 10,000 new people visiting our #clickclean website. 2767125 15234 0 Form 990, Part III, Line 4d, Other Program Services: Action Resources- Bearing Witness, Peaceful Protest - Greenpeace, Inc. furthers its mission of protecting the environment by bearing witness to environmental degradation and taking peaceful action to prevent it. Our Action Resources have supported and enabled activism in 2014 that helped raise the level and quality of public debate in many ways.In preparation for the People's Climate March and convergence in New York City, Greenpeace Inc cosponsored the "It Takes Roots to Weather the Storm" action camp. The camp supported the Climate Justice Alliance, which represents more than 30 grassroots organizations from impacted communities across the US, including coal mining communities, rural fracking sites, neighborhoods with incinerators and fossil fuel power plants, and states facing oil-by-rail development. Although the camp focused on the People's Climate March, the skills the activists built at camp will be infused into the climate justice movement. As part of our Arctic campaign, Greenpeace called on LEGO to remove Shell's logo from its toys and end its half century old partnership with the company. The campaign kicked off with a protest at the company's flagship store in Manhattan featuring human-sized LEGO figures. LEGO announced it would not renew its partnership with Shell the following October.As part of our Forests campaign, Greenpeace Inc kicked-off 2014 with the Tiger Challenge, calling on major consumer facing companies to ensure that the palm oil in their supply chains is tiger and forest friendly. Procter & Gamble (P&G), the largest single corporate user of palm kernel oil in the world, P&G was our main target during the Tiger Challenge. In the first two months of the campaign, 800,000 people signed the Tiger Manifesto petition and nearly 400,000 people emailed P&G's CEO. Greenpeace activists staged protests at P&G offices around the world and across the US, including a direct action at P&G's headquarters in Cincinnati, Ohio. The direct action picked up significant media in the US and in other countries. US highlights include: USA Today, ABC News, Miami Herald, and Businessweek. On April 8, P&G committed to No Deforestation in its supply chain. Shortly thereafter, other companies also accelerated the development of their policies, including Colgate, General Mills and Johnson & Johnson.Greenpeace Inc's action resources warehouses not only house our equipment and props, but also serve as a space for other groups working for environmental justice to meet and collaborate. Environmental Justice Groups are part of a diverse and growing network that has benefited from and helped transform our warehouses into a vibrant community space. 812181 2181 0 Form 990, Part III, Line 4d, Other Program Services: Toxics- Greenpeace is campaigning for Zero Discharge of toxic chemicals in the global south, and for safer processes at high-risk chemical facilities in the U.S. Textile factories dump toxic chemicals in local waterways across the global south. Many of these chemicals are hazardous at very low levels and build up in the environment over time. In the U.S., more than 470 chemical facilities put the health of over 100 million people in danger should accidents or terrorist attacks occur. Greenpeace U.S. is calling for Zero Discharge commitments from U.S. apparel companies to rid toxics from their supply chains to prevent these chemicals from entering waterways of the global south. To protect U.S. communities from chemical disasters, Greenpeace U.S. is working with a diverse coalition of environmental justice, public health and other groups to to persuade the Obama Administration to require high-risk chemical facilities to switch to inherently safer processes.2014 Greenpeace Inc Toxics campaign highlights include:The U.S. EPA opened a 90 day comment period in August asking for input on new chemical plant safety policies, such as new requirements to ensure that dangerous chemical plants switch to safer processes or technologies.The state of California's Department of Industrial Relations issued a draft refinery safety rule in September that would require California refineries to adopt inherently safer chemical processes or technologies to prevent catastrophic accidents. Adidas laid out milestones toward a goal to be toxic-free by 2020.Puma announced a new commitment to eliminate hazardous chemicals from its products and supply chain. 10877617 110737 34263 28310008 0 1 0 0 0 0 0 0 0 1 0 0 1 1 1 1 0 0 0 0 0 0 1 0 0 0 1 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 195 0 1 2745 1 0 0 0 0 1 1 0 X 7 6 1 0 0 0 1 1 0 1 1 0 0 1 1 0 1 1 1 1 0 0 AL AK AR AZ CA CO CT FL GA HI IL KS KY LA ME MD MA MN MS MO ND NH NJ NY NC OH OK OR PA RI SC TN UT VA WA WV WI X X Costas Doumas Controller 2024621177 702 H Street NW No 300 Washington DC 20001 Karen Topakian Chair 5.00 X X 38127 0 0 Betsy Taylor Board Member & Treasurer through December 2014 1.00 X X 0 0 0 Tracy Sturdivant Director 1.00 X 0 0 0 Alnoor Ladha Director- Appointed December 2014 1.00 X 0 0 0 Jee Kim Director through December 2014 1.00 X 0 0 0 Bryony Schwan Director 1.00 X 0 0 0 Daryl Hannah Director 1.00 X 0 0 0 Guillermo Quinteros Director 1.00 X 0 0 0 Larry Kopald Director 1.00 X 0 0 0 Rajasvini Bhansali Director 1.00 X 0 0 0 Thomas W Wetterer Deputy COO and General Counsel 32.00 X 108718 0 10873 Philip D Radford Executive Director 20.00 X 98030 0 6950 Robert Fox Chief Operating Officer 20.00 X 50142 0 5946 Anne Marie Leonard Executive Director 20.00 X 37766 0 4116 Michael SClark Interim Executive Director 20.00 X 35113 0 0 Mark Royal Conheady Chief Financial Officer 24.00 X 37002 0 3511 Franklyn Darnell Baker Chief Operating Officer 32.00 X 37916 0 11048 Nicola Davies Campaigns Director 40.00 X 168548 0 14655 Britt Cocanour Director of Public Outreach 40.00 X 156436 0 34501 Michael Silberman Global Director Digital Innovation 40.00 X 163342 0 16984 Matthew Daggett Global Campaign Leader 40.00 X 156874 0 43374 David J Barre Communications Director 40.00 X 129776 0 16870 Nathan Santry Actions Director 40.00 X 123428 0 37696 Jennifer N Good Grassroots Director 40.00 X 113692 0 12052 1454910 0 218576 15 0 1 0 Direct Mail Solutions 1150 Conrad Court Hagerstown MD 21740 Telemarketing/ Fundraising support 1001881 O'Connor Consulting ServicesLLC 4770 Howard Place Chesapeake Beach MD 20732 Accounting Consulting 727816 RWT Production LLC 5624 Bellington Avenue Springfield VA 22151 Direct Mail Production Mgmt 469083 Public Interest Communications LLC 7700 Leesburgh Pike Falls Church VA 22043 Telemarketing/ Fundraising support 426382 Blackbaud 2000 Daniel Island Dr Charleston SC 29492 Constituent Database Hosting Service 365478 18 33462321 33462321 Tuition Fees 611710 3515 3515 3515 1634 1634 29448 29448 1166 282 884 884 884 Rebates and other 900099 20748 20748 Speaking Engagement Greenfest 900099 10000 10000 30748 33528550 34263 0 31966 218495 218495 859398 640787 212939 5672 16639863 13718899 1057030 1863934 281499 198009 27151 56339 2930109 2546917 131807 251385 801773 572358 81660 147755 145475 133687 9602 2186 39446 15782 19600 4064 841539 841539 534 534 2962424 2017607 602144 342673 83762 43296 40466 2433226 1928426 68637 436163 1105166 568842 335987 200337 1894928 1295671 314792 284465 1696850 1519113 56769 120968 881669 771011 46927 63731 126595 50872 62628 13095 203561 144808 32775 25978 147671 102618 25308 19745 Direct Mail 1005264 855603 149661 Miscellaneous 272717 236971 21703 14043 List Rental Expenses 172333 140912 31421 Prof. Fundraising alloc 0 589324 -589324 35744297 28310008 3107993 4326296 X 15377470 13088108 0 2289362 1497394 1151836 1420959 172004 21221 818445 629055 2408871 1587867 695994 821004 67222 69162 1663700 1891297 6335718 4583575 2169133 2046720 1771862 2298951 792974 851946 4733969 5197617 X 1494260 -614042 107489 0 1601749 -614042 6335718 4583575 -2215747 -44 0 X X 0 1 X 1 0 RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 1393896 733673 660223 919675 783110 136565 95300 71084 24216 821004 Due from other Greenpeace affiliates 17536 Due from Stitchting Greenpeace Council 528517 Due from Greenpeace Fund 1345244 1891297 Deferred rent 745129 Due to other Greenpeace affiliates 106817 851946 X 33527972 -44 -44 33528016 534 534 33528550 35743763 0 35743763 534 534 35744297 Part X, Line 2: Management evaluated the Organization's tax positions and concluded that the Organization has taken no uncertain tax positions that qualify for either recognition or disclosure in the financial statements. X X X X X 1 Donor Services Group 6715 Sunset Boulevard Los Angeles CA 90028 Telemarketing & other direct marketing 0 487002 165351 321651 SD&A Teleservices Inc 5757 West Century Boulevard Suite Los Angeles CA 90045 Telemarketing 0 477260 238746 238514 Public Interest Communications Inc 7700 Leesburg Pike Suite 301N Falls Church VA 22043 Outbound Telemarketing 0 161966 95310 66656 Strategic Fundraising Inc 6800 Owensmouth Avenue Suite 200 Canoga Park CA 91303 Telemarketing 0 2400 5838 -3438 1128628 505245 623383 AL AK AR AZ CA CO CT FL GA HI IL KS KY LA ME MD MA MN MS MO ND NH NJ NY NC OH OK OR PA RI SC TN UT VA WA WV WI 1 NEO Philanthropy Inc 45 West 36th Street6th Floor New York NY 10018 133191113 501(c)(3) 50000 0 N/A N/A To support the Building Equity and Alignment initiatives Cincinatti Recreation Commission Foundation 801 Plum St Cincinnati OH 45202 311574475 501(c)(3) 50000 0 N/A N/A To support environmental education and activities in the city of Cincinnati Ruckus Society Inc PO Box 28741 Oakland CA 94604 810504390 501(c)(3) 10000 0 N/A N/A To support "It Takes Roots to Weather the Storm" action campaign Public Employees for Environmental Responsibility 2000 P Street NW Washington DC 20036 931102740 501(c)(3) 10000 0 N/A N/A Support environmental awareness and responsibility among government employees 4 0 Part I, Line 2: The grants and other assistance to organizations in the United States reported on Schedule I , Part II consist of contributions made by Greenpeace Inc. to like-minded organizations for current program activities or a specific event. All contributions made by Greenpeace Inc. are in furtherance of the organization's exempt purpose to promote the protection and preservation of the environment. X X X X 1 0 0 0 0 0 0 0 0 Nicola Davies Campaigns Director 168548 0 0 0 0 0 6593 0 8062 0 183203 0 0 0 Britt Cocanour Director of Public Outreach 156436 0 0 0 0 0 5858 0 28643 0 190937 0 0 0 Michael Silberman Global Director Digital Innovation 163342 0 0 0 0 0 8755 0 8229 0 180326 0 0 0 Matthew Daggett Global Campaign Leader 156874 0 0 0 0 0 9891 0 33483 0 200248 0 0 0 Nathan Santry Actions Director 123428 0 0 0 0 0 7912 0 29784 0 161124 0 0 0 Part I, Line 4a Officers Philip D. Radford and Robert Fox received severance payments from Greenpeace Inc. in the amounts of $18,872 and $18,264, respectively upon termination of their employment. Form 990, Part III, Line 4a- Climate (continuation) Greenpeace U.S. is working with allies to block investments in dirty energy projects, and mobilizing broad public support for a High Arctic sanctuary to protect the region from oil drilling and other industrial exploitation. At the same time, Greenpeace is building demand for clean energy and for U.S. corporate and government leaders to champion a clean energy transition at home and abroad. 2014 Greenpeace Inc. Climate (Energy and Arctic) campaign highlights include: Shell cancelled its 2014 Arctic oil drilling plans for Alaska, shortly after federal court for the 9th Circuit ruled that the 2008 lease sale under which the company sought to drill was unlawful. LEGO announced in October it would not renew its partnership with Shell following Greenpeace's global campaign. More than 100 well known US citizens are among the 1,000 influential people that have signed on to the Arctic Declaration. Prominent US signatories include: Dr. Sylvia Earle, Ted Turner, Norah Jones, Jackson Browne, authors Gregg Easterbrook and Barry Lopez, GreenFaith ED Rev. Fletcher Harper, and Jimmy Fallon. More than 400,000 people joined the largest climate march in history - the People's Climate March - two days before the UN Climate Summit in New York City in September. Amazon Web Services announced on their sustainability page a new commitment to be 100% renewably powered. Google, Facebook, Yahoo, Yelp, Microsoft, and six utilities (Alliant Energy, Ameren, MidAmerican Energy Holdings, NV Energy, PacifiCorp, and PG&E) announced in 2014 they were ending their membership with ALEC (American Legislative Exchange Council). Apple announced construction of its third major solar farm in North Carolina, and Microsoft announced it would power its Chicago data center via a massive, 175 MW, purchase of wind energy in Illinois. Oregon Department of State Lands denied a key permit for Ambre Energy's proposed Morrow Pacific coal export terminal. In the past 2 years, four of the six proposed coal export terminals in the Pacific Northwest have been cancelled or significantly delayed. Form 990, Part III, Line 4b- Oceans (continuation) Greenpeace U.S. is using cutting-edge scientific research, and collaborating with Tribal communities, scientists, NGO allies, and seafood retailers to pressure the U.S. fisheries bodies to support / implement sustainable fisheries management and establish ocean sanctuaries in the Bering Sea, Ross Sea and elsewhere. Greenpeace U.S is also working with NGO allies to pressure the Obama Administration to demonstrate leadership to end whaling and reform the International Whaling Commission to be conservation agency. 2014 Greenpeace Inc. Ocean campaign highlights include: Compass Group, which supplies nearly 2 million pounds of tuna every year to hospitals, universities, and other institutions, committed to ensure all of its tuna is sustainable by the end of 2014. President Obama used his authority under the Antiquities Act to expand the Pacific Remote Islands Marine National Monument, creating the world's largest marine reserve in one of the most pristine marine environments left on earth. The North Pacific Fishery Management Council initiated an official policy process in April to consider protective measures for the Bering Sea canyons and shelf-break. North American seafood company High Liner Foods announced in March that it would not buy products sourced from Icelandic companies linked to whaling. In November, for the first time in 104 years, Japan did not send its fleet to hunt whales in the Southern Ocean, heeding a decision by the International Court of Justice (ICJ) in February calling on Japan to stop issuing permits for this whaling. Form 990, Part III, Line 4c- Forests (continuation) Greenpeace U.S. is securing Zero Deforestation commitments from influential U.S.-based companies to rid their supply chains of destructively harvested tropical forest and agricultural products, and to support political solutions that will provide long-term tropical forests protection. 2014 Greenpeace Inc. Forest campaign highlights include: All eight US companies named in Greenpeace's 2014 Tiger Challenge made No Deforestation Palm Oil commitments. These are: - Colgate-Palmolive, General Mills, Johnson & Johnson, Kellogg's, Mars , Mondelez (maker of Oreo cookies), PepsiCo, and Procter & Gamble (P&G). General Mills adopted a strong definition of High Carbon Stock (HCS) to support their implementation. Cargill, one of the world's largest agribusiness giants and a large palm oil industry player, released a revised palm oil policy in August. Lumber Liquidators, the largest hardwood flooring retailer in North America and third largest DIY chain in the US, published a global forest policy after Greenpeace linked its products with illegal logging. The landmark Brazilian Soy Moratorium, set to end in January 2015, was renewed for the eighth time and will now continue through May 2016. Form 990, Part VI, Section A, line 2 Officers Annie Marie Leonard , Philip Radford, Robert Fox, Thomas W. Wetterer, Michael S.Clark, Mark Royal Conheady, and Franklyn Darnell Baker serve or served as officers of Greenpeace Fund. Form 990, Part VI, Section A, line 6 The organization has voting members, which are all in the same class. These members are designated by the Board of Directors based on criteria established in the bylaws and hold a term of 2 years. Form 990, Part VI, Section A, line 7a According to the organization's bylaws, the Board of Directors is elected by voting members. Form 990, Part VI, Section B, line 11 The 990 is prepared by an independent public accounting firm and reviewed by the organization's management team. The 990 is then reviewed and approved by the audit committee. After this approval, the 990 is provided to the full Board prior to filing with the Internal Revenue Service. These various levels of review ensure the information filed is complete, accurate, and in compliance with regulations. Form 990, Part VI, Section B, line 12c The organization's conflict of interest policy is reviewed annually by each member of the Board of Directors. On an annual basis, each director also completes a disclosure form identifying any relationships, positions or circumstance in which he or she believes could contribute to a conflict. Following full disclosure of a possible conflict of interest, the Board of Directors shall determine whether a conflict of interest exists, and, if so, the Board takes any action deemed necessary to address the conflict and protect the organization's best interests. Form 990, Part VI, Section B, line 15a Compensation for the Executive Director is independently reviewed and based on analysis of comparable data obtained from industry resources, publicly disclosed 990s, and peer organizations. Review and approvals are documented accordingly by the Board of Directors or delegated committees. Form 990, Part VI, Section C, line 18 The Form 990 is posted on the organization's website. The 990 is also made available, as well as Form 1023, upon request in accordance with the U.S. Title 26, Subtitle F, Chapter 61, Subchapter B, Section 6104(d)(1)(B). Form 990, Part VI, Section C, line 19 Greenpeace Inc's organizational documents, code of ethics (which includes conflict of interest policy), annual reports, and related documents are posted on the organization's website. In addition, audited financial statements are periodically posted to the website. Form 990, Part XII, line 2c, Oversight of the audit: Greenpeace Inc. has an audit committee that assumes responsibility for oversight of the audit of its financial statements and selection of an independent accountant. The Audit Committee reviews and approves the audit report and financial statements and recommends their acceptance to the full Board.