Volunteer and Expense Reimbursement Policy

ARTICLE I: PURPOSE

The Open Accounts Receivable Collective Foundation (the “Foundation”) relies on the service of volunteers, directors, officers, employees, and contractors who advance the Foundation’s charitable mission. The Foundation recognizes that these individuals may, from time to time, incur out-of-pocket expenses in the course of performing authorized Foundation activities.

This policy establishes the Foundation’s procedures for reimbursing such expenses. The policy is intended to:

• Ensure that individuals acting on behalf of the Foundation are not required to bear the financial cost of Foundation activities personally

• Apply uniformly to all persons acting on the Foundation’s behalf, regardless of their compensation status or relationship to the Foundation

• Comply with the accountable-plan rules under Section 62(c) of the Internal Revenue Code and Treasury Regulation Section 1.62-2, so that reimbursements do not constitute taxable compensation to the recipient

• Establish clear controls over the Foundation’s expenditure of funds and support accurate financial recordkeeping

• Protect the Foundation against the appearance of private benefit or inurement in reimbursement practices.

ARTICLE II: SCOPE AND APPLICABILITY

Section 2.1. Covered Persons

This policy applies to all persons acting on behalf of the Foundation, including, without limitation:

• Directors of the Foundation

• Officers of the Foundation

• Employees of the Foundation

• Independent contractors of the Foundation

• Volunteers, including the founder, the founder’s spouse, and any other person performing services for the Foundation without compensation.

Section 2.2. Uniform Application

The procedures, substantiation requirements, and reimbursement standards established by this policy apply uniformly to all Covered Persons. No Covered Person will receive preferential reimbursement treatment, higher reimbursement rates, relaxed substantiation requirements, or expanded reimbursable categories by reason of that person’s role, relationship to the Foundation, or relationship to Foundation leadership.

Section 2.3. Not Compensation

Reimbursement of documented out-of-pocket expenses actually incurred on the Foundation’s behalf is not compensation for services. Reimbursements made in accordance with this policy do not constitute a purchase of goods, services, or assets from the reimbursed person and are not treated as compensation under the Foundation’s Conflicts of Interest Policy or for any purpose under Section 4958 of the Internal Revenue Code.

ARTICLE III: REIMBURSABLE EXPENSES

Section 3.1. General Standard

The Foundation will reimburse Covered Persons for ordinary, necessary, and reasonable out-of-pocket expenses actually incurred on the Foundation’s behalf in the performance of authorized Foundation activities, subject to the requirements of this policy.

Section 3.2. Categories of Reimbursable Expenses

Reimbursable expenses include, without limitation:

• Travel expenses, including transportation (air, rail, ground), lodging, and meals while traveling on Foundation business

• Local mileage on a personal vehicle used for Foundation business, reimbursed at the standard mileage rate published annually by the Internal Revenue Service

• Registration fees for conferences, training, and professional events attended on the Foundation’s behalf

• Materials, supplies, and equipment purchased for direct use in Foundation activities

• Meeting and event expenses, including venue costs, food and beverage, and materials for Foundation-sponsored meetings, webinars, and community events

• Software subscriptions, domain registrations, hosting fees, and other technology expenses incurred for Foundation use

• Professional services procured for the Foundation, such as legal, accounting, graphic design, or editorial services, where the Covered Person has been authorized to engage such services

• Postage, shipping, printing, and similar administrative expenses incurred in the course of Foundation activities

• Any other ordinary, necessary, and reasonable expense directly related to the performance of authorized Foundation activities.

Section 3.3. Non-Reimbursable Expenses

The Foundation will not reimburse, among other expenses:

• Personal expenses unrelated to Foundation activities, including personal meals, entertainment, or incidental expenses not connected to Foundation business

• Expenses incurred before the Foundation’s date of incorporation, unless specifically approved by the Board of Directors as an organizational expense

• Alcoholic beverages, except as a modest component of a Foundation-hosted event meal at which alcohol is incidental to the event’s purpose

• Traffic violations, parking tickets, or other legal penalties

• Expenses of family members, guests, or companions accompanying a Covered Person on Foundation business, unless the family member, guest, or companion is separately performing authorized Foundation activities

• Expenses for which the Covered Person has received or will receive reimbursement from any other source

• Expenses unsupported by documentation meeting the requirements of Article IV

• Expenses inconsistent with the Foundation’s charitable purposes, governance policies, or public-benefit mission.

Section 3.4. Advance Authorization

Expenses expected to exceed five hundred dollars ($500) per transaction, or expenses for travel outside the contiguous United States, require advance written authorization before the expense is incurred. Advance authorization will be obtained from the person who would be responsible for approving the corresponding reimbursement request under Section 5.1. No person may pre-authorize their own anticipated expense. Advance authorization may be documented by email or other written record retained with the reimbursement request.

Section 3.5. Reasonable Cost Standard

Reimbursable expenses must reflect reasonable costs for the purpose involved. Covered Persons will exercise the same prudence in incurring expenses on the Foundation’s behalf that a reasonably careful person would exercise in their own affairs. When alternatives are available at materially different costs, the lower-cost alternative will be selected unless the higher-cost alternative serves a documented Foundation purpose.

ARTICLE IV: SUBSTANTIATION REQUIREMENTS

Section 4.1. Documentation Required

To be reimbursable, each expense must be substantiated by documentation that establishes:

• The amount of the expense

• The date of the expense

• The business purpose of the expense (identifying the Foundation activity, program, or purpose served)

• The location or vendor where the expense was incurred

• For travel expenses, the destination, dates, and purpose of travel

• For meals, the names of persons present if more than the Covered Person alone, and the business purpose of the meeting or meal

• For mileage, the date, starting point, destination, number of miles, and business purpose of the trip.

Section 4.2. Receipts

Original or digital receipts are required for all expenses of twenty-five dollars ($25) or more. For expenses below this threshold, a written record of the expense meeting the requirements of Section 4.1 is sufficient. The Foundation may accept digital images or scans of receipts in lieu of originals.

Section 4.3. Submission Timeframe

Reimbursement requests must be submitted within sixty (60) days after the expense is incurred or, for expenses incurred in connection with a trip or event, within sixty (60) days after the conclusion of the trip or event. Requests submitted after this period may be denied at the discretion of the Treasurer.

Section 4.4. Return of Excess Advances

If the Foundation advances funds to a Covered Person in anticipation of expenses, the Covered Person will account for the advance with substantiating documentation under Section 4.1 and will return any unused portion of the advance to the Foundation within one hundred twenty (120) days after the advance is received. Advances will not be made more than thirty (30) days before the anticipated expense.

ARTICLE V: APPROVAL AND PAYMENT PROCEDURES

Section 5.1. Review and Approval

Reimbursement requests will be reviewed and approved as follows:

• Requests submitted by volunteers, employees, and independent contractors will be reviewed and approved by the Treasurer or the Treasurer’s designee

• Requests submitted by a director who is not an officer will be reviewed and approved by the Treasurer or the Treasurer’s designee

• Requests submitted by the Treasurer will be reviewed and approved by the Chair

• Requests submitted by the Chair will be reviewed and approved by the Treasurer

• Requests submitted by any other officer will be reviewed and approved by the Treasurer or the Chair.

Section 5.2. Review Standard

The reviewing officer will verify that the request is for an expense reimbursable under Article III, is substantiated in accordance with Article IV, is consistent with any advance authorization required under Section 3.4, and reflects a reasonable cost under Section 3.5. The reviewing officer will not approve any request that does not meet these standards.

Section 5.3. Disputes

If a reimbursement request is denied in whole or in part, the Covered Person may submit the dispute to the Board of Directors for resolution. The Board’s determination is final.

Section 5.4. Payment

Approved reimbursements will be paid by check, electronic transfer, or other means selected by the Treasurer, payable to the Covered Person. Reimbursements will ordinarily be processed within thirty (30) days after approval.

Section 5.5. Recordkeeping

The Treasurer will maintain records of all reimbursement requests, supporting documentation, approvals, and payments. Records will be retained in accordance with the Foundation’s Document Retention and Destruction Policy. All reimbursements paid to officers will be reported to the Board of Directors, or to the Finance and Audit Committee if established, at least quarterly.

ARTICLE VI: DONATED EXPENSES

Section 6.1. Election Not to Seek Reimbursement

A Covered Person may, at their option, decline reimbursement for an expense that would otherwise be reimbursable under this policy, treating the expense as a charitable contribution incident to the rendition of services to the Foundation.

Section 6.2. Acknowledgment

Upon request, the Foundation will provide a contemporaneous written statement describing the services the Covered Person performed and stating whether the Foundation provided any goods or services in consideration for the unreimbursed expenses, consistent with Treasury Regulation Section 1.170A-13(f)(10). The statement will not assign a value to the services or state the amount of the expenses; the Covered Person’s own records substantiate the amount. The Covered Person is responsible for determining the deductibility of any such contribution under applicable tax law and for retaining their own records.

Section 6.3. No Requirement to Decline

No Covered Person will be required, expected, or encouraged to decline reimbursement for any expense. The Foundation’s standard practice is to reimburse all authorized expenses in accordance with this policy. Declining reimbursement is solely at the option of the Covered Person.

ARTICLE VII: INTERACTION WITH OTHER POLICIES

Section 7.1. Conflicts of Interest Policy

Reimbursements made under this policy are not transactions with insiders for purposes of the Foundation’s Conflicts of Interest Policy. A Covered Person seeking reimbursement of expenses under this policy is not required to disclose the reimbursement request as a conflict or to recuse from unrelated matters.

Section 7.2. Anti-Nepotism Policy

Reimbursement of a family member of a director, officer, or key employee for authorized Foundation expenses under this policy is not a hiring, contracting, or appointment decision subject to the Anti-Nepotism Policy. Reimbursements to family members are subject to the same standards as reimbursements to any other Covered Person.

Section 7.3. Accountable Plan Status

This policy is intended to operate as an accountable plan under Section 62(c) of the Internal Revenue Code and Treasury Regulation Section 1.62-2. The Foundation will not report reimbursements paid under this policy as taxable compensation, provided the expenses are substantiated in accordance with Article IV and any unused advances are returned in accordance with Section 4.4. Any payment to a Covered Person that does not meet the requirements of this policy will be treated as taxable compensation, subject to applicable withholding and reporting.

ARTICLE VIII: POLICY ADMINISTRATION AND REVIEW

Section 8.1. Administration

The Treasurer is responsible for the day-to-day administration of this policy, including processing reimbursement requests, maintaining records, and ensuring compliance with substantiation and approval requirements.

Section 8.2. Annual Review

This policy may be updated by the Board of Directors and will be reviewed at least annually. Substantive changes will be announced through the Foundation’s official channels and reflected in the dated version of this policy. The current version of this policy supersedes any prior version.

Section 8.3. Mileage Rate Updates

The standard mileage rate used for reimbursement under Section 3.2 will be updated automatically each calendar year to match the then-current rate published by the Internal Revenue Service, without further Board action.