Penobscot Bay YMCA

“The by-laws state that the organization is made up of members.”

“Members of the board of directors shall be elected at the annual meeting by a majority vote of members present.”

“Members hold the board of directors accountable and exercise governance power through the election of directors to the board.”

“Form 990 review the form 990 is created from the information supplied to our auditors. After the auditors have created the federal information returns, the return is reviewed by the finance director to verify that it ties to the audit report. Also reviewed are the statements on part iii and part viii which discuss exempt purpose. Also disclosures regarding salaries over 50,000 and fringe benefits are reviewed for accuracy. Finally admin and maint: allocations are reviewed for accuracy. The return is then handed to the finance com. And the executive director and the chief volunteer officer for review. Any questions are referred to the finance director and the auditors. The final step is to present the return to the board of directors at the next monthly meeting. After the board has reviewed and approved the return, it is electronically filed. A copy is also sent with the audit report to y -national, as a condition of certification. A copy is left at the front desk for public review. Copies of the last 3 years are made available for the public.”

“Excerpt from conflict on interest policy - section "x. Periodic reviews" to ensure that the ymca operates in a manner consistent with charitable purposes and does not engage in activities that could jeopardize its tax-exempt status, periodic reviews shall be conducted. The periodic reviews shall, at a minimum, include the following subjects: whether compensation arrangements and benefits are reasonable, are based on competent survey information, and are the result of arm's length bargaining. Whether partnerships, joint ventures, and arrangements with management organizations conform to the "y's" written policies, are properly recorded, reflect reasonable investment or payments for goods and services, further chartiable purposes and do not result in incremental, impermissible private benefit or in excess benefit transaction. Excerpt from conflict on interest policy - section "xi. Use of outside experts" when conducting the periodic reviews as provided for in article vii, the ymca may, but need not, use outside advisors. If outside experts are used, their use shall not relieve the governing board of its responsibility for ensuring periodic reviews are conducted.”

“Irs intermediate sanctions rebuttable presumption statement the organization formal policy and practice requires a periodic detailed review of key employees, including the executive director. Annual compensation, basic & supplemental insurance, retirement benefits, benefit allowances, are reviewed by the decision-making body, who formally and extensively document their review in an employee performance evaluation form.”

“Financial statements and the conflict of interest policy are on file with the front desk for public review. We leave copies for three years.”

“We partner with community agencies such as the department of health and human services so that financial assistance is available for those who cannot afford to pay. In 2014 we served over 7,200 children and provided financial assistance to 30% of our families.”

“Gain on perpetual trust 6,010”