Frannie Peabody Center Inc.

“The executive director and director of finance assist the auditing firm with preparation of the annual form 990. They review a draft of form 990 for completeness, accuracy and reconciliation with the audited financial statements. They also review the narratives describing the agency's mission, programs, policies and procedures to ensure that they are up to date and accurate. The executive committee is charged with review and final approval of the form 990 because the board officers have the necessary expertise and experience to do so. They are provided with a draft of the form 990 for preliminary review, then meet with management and the auditors to resolve any questions or concerns. When their review is completed, the form 990 is filed.”

“Frannie peabody center management and directors are charged with ongoing monitoring of any conflicts of interest. The written policies require any employees or directors to report to their supervisors or board officers any existing or impending conflicts of interest that may be present. Management addresses issues involving employees on a case by case basis. Directors are expected to recuse themselves from board deliberations or votes, if warranted by their conflict; otherwise the executive committee or full board will address the conflict on a case by case basis.”

“Frannie peabody center uses the maine association of non-profits compensation handbook to assess appropriate compensation levels and provide comparability data regarding compensation. The maine association of non-profits publishes compensation surveys bi-annually. The board of directors reviews and approves the total agency salaries (including executive director compensation) during the annual budget process. The agency benefits package is reviewed by the board as a part of the annual insurance renewal; all management and staff are eligible for the same benefits in accordance with the personnel policies. The executive director and management team are charged with development of the specific positions within the agency, the job descriptions, and the appropriate salary range for each. These are reviewed by the board of directors as necessary as well as in conjuction with budget preparation.”

“Frannie peabody center makes available, upon request, its form 990 and all other information and documents required by law to be available for public inspection. At this time there are no plans to include this information on the agency's website. Information may also be accessed on the internet at the guidestar.com website.”

“Frannie peabody center currently does not have a formal policy regarding public disclosure of governing documents, policies and financial statements. Requests for that information would be addressed on a case by case basis.”

“Temporarily restricted net assets - contributions 50600. Temporarily restricted net assets released from restrictions -8000.”

“The executive committee, in conjunction with management, oversees the audit. The board of directors devotes a full meeting to review the audited financial statements and related correspondence with representatives of the audit firm. The board of directors is responsible for selection of the audit firm. There are no changes from procedures in previous years.”