Nuestra Comunidad Development Corp

“Management provides a draft of the tax return to the board of directors of the organization for review. All desired changes are communicated to the auditor and considered for compliance with relevant tax laws prior to being applied and the tax return being filed.”

“The organization has a written conflict of interest policy. Nuestra has amember of the finance committee who is the compliance officer for the organization. Nuestra requires that every member of the board sign a conflict of interest policy form once a year. The organization informs the compliance officer when all the forms have been completed and are on file. The conflict of interest policy is included in the board book that is used at every board meeting.”

“At the time of hiring of each executive director, the board may engage an independent consultant to review the appropriate compensation for an individual hired to carry out the then-current job description for this position. At the time of such hiring, the board shall review comparability data on employment provided by the massachusetts association of community development corporations, comparability information compiled by a national network of community development corporations or other salary comparability data prepared by an independent organization familiar with the non-profit field. Nuestra also purchases a guidestar compensation report that is used as part of the salary review. The chair of the personnel committee is a board member that works as an hr consultant, she assists the board in reviewing the executive directors compensation. The board minutes shall document the process used in determining the initial compensation of the executive director at the time of hiring. Subsequently, at the time of the annual evaluation of the executive director, the board shall determine the appropriate increase in compensation based on performance in achieving the annual workplan and comparability data. A bonus payment may be awarded based on performance in achieving the annual workplan, achieving any stretch goals that the board has set for the executive director and/or other accomplishments.”

“Nuestra maintains copies of the documents at their corporate office and makes them available upon request. Nuestra provides information to the state and federal agencies and their annual tax return is available on guidestar.org.”

“This 990 is being prepared with the best available information at the time. Upon completion of the audit, if there are any significant changes, appropriate action will be taken.”