Word Inc Child Development Center

“Two members of the board of directors are related by marriage.”

“The executive director and financial manager are assigned the responsibility for the review and approval of all information and tax filings for the federal government and commonwealth of massachusetts at the directive of the board of directors.”

“The directors provides self-declaration of possible conflicts interest as part of the annual meeting responsibilities. Key employees provide an annual self-declaration as part of their annual performance evaluation process. Potential conflicts identified are reviewed and approved if appropriate as a part of the board of directors routine responsibilities.”

“The board of directors performs an informal review of salaries for comparable responsiblities in like size organizations and other similar organizations within the community. Discussions are documented as part of the recording of the minutes of the board of directors including their formal approval of revised compensation and benefits.”

“The organization makes all federal and commonwealth of massachusetts filings, and governing documents available upon formal request. Various companies and the massachusetts secretary of state make these filings and the audited financial statements available.”

“The board of directors reviews and approves the auditor selection and receives all correspondence resulting from the audit process directly from the audit firm.”

“The net assets of the organization were transferred to family service association, a massachusetts not-for-profit, effective february 29, 2016; the date of the board of directors approved merger.”

“Effective march 1, 2016 in recognition of the favorable synergies to the organization, the board of directors of the organization voted to merge with family service association of fall river, inc. (hereinafter family service association), a private not-for-profit providing an array of social service programs intended to meet the current individual and family needs of the greater fall river, massachusetts community. In accordance with the merger agreement dated december 15, 2015, family service association assumes ownership of the organizations resources, liabilities, employees and related obligations, licenses to provide program services, unasserted claims and other contractual obligations effective march 1, 2016 without additional consideration. These amounts approximate the balance sheet values of the organization at february 29, 2016 and the possible contingencies assumed are detailed in note 8 to the audited financial statements.”