Greater Lowell Family YMCA

“A draft copy of the organization's form 990 is reviewed by the Finance Committee in detail and presented to the entire Board of Directors for comment and review prior to filing.”

“Compliance with the organization's conflict of interest policy is monitored by the board of directors and the executive director. All applicable parties are required to annually certify compliance with the policy.”

“Compensation for the executive director is determined by the compensation committee of the board of directors on an annual basis. The executive director's compensation level is based on a thorough performance evaluation and by comparison to other ymca organizations' compensation levels as supplied by the national ymca office. The work of the compensation committee is documented in writing. The executive director recommends salary levels for other employees that are reviewed and approved by the board of directors as a part of the annual budget approval policy.”

“Compensation for the executive director is determined by the compensation committee of the board of directors on an annual basis. The executive director's compensation level is based on a thorough performance evaluation and by comparison to other ymca organizations' compensation levels as supplied by the national ymca office. The work of the compensation committee is documented in writing. The executive director recommends salary levels for other employees that are reviewed and approved by the board of directors as a part of the annual budget approval policy.”

“The organization makes its governing documents, conflict of interest policy and financial statements available to the public upon request”

“- Total Revenue: , Related or Exempt Function Revenue: , Unrelated Business Revenue: , Revenue Excluded from Tax Under Sections 512, 513, or 514: ; - Total Revenue: , Related or Exempt Function Revenue: , Unrelated Business Revenue: , Revenue Excluded from Tax Under Sections 512, 513, or 514: ;”

“(A) Name of person: Brian Bullock (B) Relationship between interested person and Organization: Director of the YMCA is also an officer with Enterprise Bank where loans are held. (C) Description of transaction: Mortgage notes on YMCA property and an available working line of credit.”

“The Organization is a nonprofit corporation as described in section 501(c) (3) of the Internal Revenue Code and is exempts from federal and state income taxes. As a result, no provision for income taxes is presented in these financial statements. However, in certain circumstances, the Organization may be subject to federal and state income taxes for profits generated from unrelated trade of business income. The Organization has determined that it does not have any liabilities associated with unrelated trade or business income. The Organization assesses the recording or uncertain tax positions by evaluating the minimum recognition threshold and measurement requirements a tax position must meet before being recognized as a benefit in the financial statements. The Organization's policy is to recognize interest and penalties accrued on any uncertain tax positions as a component of income tax expense, if any, in its statements of activities.”