Hope Worldwide Ltd

“The CFO reviews Form 990 and related documentation. The CEO/President also reviews it. Then a draft of the Form 990 is provided to the Finance & Audit committee then the full board for their review. The board knows that a review of the Form 990 is required before the submission.”

“Annually, every staff member, board member and principal officer completes a conflict of interest disclosure statement disclosing the facts relating to any actual or potential financial interest or stating that he or she has no reportable financial interest that would constitute a conflict or potential conflict of interest. HOPE worldwide LTD's conflict of interest policy requires staff member, board member or principal officer with a conflict or potential conflict of interest to immediately disclose the existence of any material facts regarding any interest or transaction or matter being considered by the board or a board committee to the president (or if the president is the one with the conflict, then to the chair of the board) who shall then bring these matters to the attention of the governance committee of the board who will make an ultimate determination. In addition, the person with the potential conflict must recuse himself or herself from the meeting in which the transaction or matter is discussed and voted upon.”

“The Finance & Audit committee of the board of directors has the responsibility to determine the nature and amount of compensation (including salary & benefits as appropriate to the position and appropriate for Georgia) to be included in the president's contract during the contract process. The HOPE worldwide, LTD board of directors uses the Candid Salary survey and the Insperity PEO salary survey as a guide to determine reasonable compensation to ensure that nobody at HOPE worldwide, LTD. is excessively compensated. Also, on an annual basis, a review of the president's performance is conducted. Any salary increases recommended based on the president's performance would need to be approved by the board of directors. The HOPE worldwide, LTD board of directors has adopted the Insperity salary survey for determining reasonable compensation based upon job size. The Chief Financial Officer, using the job-size and market salary comparisons consistent with current national salary surveys, establishes salary levels and median salaries for each job range. The relevant supervisor may recommend a salary within the current market range based on the employee's qualifications as well as budget constraints. The CFO presents that information to the Finance and Audit committee of the board of directors for its review. Ultimately, the Finance & Audit committee's recommendations must be approved by the full board.”

“The organization makes its governing documents, conflict of interest policy, and financial statements available upon request in the organization's public inspection file.”

“The organization is in the process of changing its year-end from december 31st to june 30th. While the organization has consistently adhered to an annual 12-month independent audit of their financial statements, under the advice of their third-party accountants, the finance committee agreed to an 18-month independent audit of their financial statements to reflect the transition period from 12/31 financials to 6/30 financials with no cut-off testing procedures or short-year financial statement reporting. As such, while the organization is obtaining consolidated, independent audited financial statements, including a footnote addressing the organization's liability for uncertain tax positions under fin 48 (asc 740), the financials used to complete this form 990 are unaudited and for a 12-month period ending within the 18-month period tested and represented by the audited finaicial statements.”

“HOPE worldwide, LTD. has 43 employees of which 39 employees were reported under the tax id of a professional employer organization (PEO).”

“THE ORGANIZATION IS IN THE PROCESS OF CHANGING ITS YEAR-END FROM DECEMBER 31ST TO JUNE 30TH. WHILE THE ORGANIZATION HAS CONSISTENTLY ADHERED TO AN ANNUAL 12-MONTH INDEPENDENT AUDIT OF THEIR FINANCIAL STATEMENTS, UNDER THE ADVICE OF THEIR THIRD-PARTY ACCOUNTANTS, THE FINANCE COMMITTEE AGREED TO AN 18-MONTH INDEPENDENT AUDIT OF THEIR FINANCIAL STATEMENTS TO REFLECT THE TRANSITION PERIOD FROM 12/31 FINANCIALS TO 6/30 FINANCIALS WITH NO CUT-OFF TESTING PROCEDURES OR SHORT-YEAR FINANCIAL STATEMENT REPORTING. AS SUCH, WHILE THE ORGANIZATION IS OBTAINING CONSOLIDATED, INDEPENDENT AUDITED FINANCIAL STATEMENTS, INCLUDING A FOOTNOTE ADDRESSING THE ORGANIZATION'S LIABILITY FOR UNCERTAIN TAX POSITIONS UNDER FIN 48 (ASC 740), THE FINANCIALS USED TO COMPLETE THIS FORM 990 ARE UNAUDITED AND FOR A 12-MONTH PERIOD ENDING WITHIN THE 18-MONTH PERIOD TESTED AND REPRESENTED BY THE AUDITED FINancial STATEMENTS.”