The Lighthouse Voc-Ed Center Inc

“The organization uses an outside accounting firm to prepare its form 990. After the form 990 is prepared, a copy is reviewed by the executive director before it is electronically sent to the entire board of directors for their review. After the board of directors reviews the return, they vote to approve the form 990. Upon approval, the form 990 is filed with the internal revenue service.”

“The organization's conflict of interest policy is reviewed by employees and board directors annually. An annual disclosure statement is signed and completed by each employee and board director. Each director is required to disclose to the board, any interest they or any member of their family or household may have in, the financial transactions of the corporation, and any conflict of interest or potential conflict of which they are aware. Potential conflicts of interest disclosed by employees and board directors are reviewed by the board president in collaboraion with the executive director to determine if an actual conflict exists. In the event a director has a conflict of interest with any issue, they refrain from either participating in the discussion or voting on the issue.”

“The compensation of the executive director is reviewed by the board of directors on an annual basis. Comparability data is used to determine if the compensation is to be adjusted. After review, the board of directors votes on the approval of compensation for the executive director and the result is documented in the meeting minutes. This process was last undertaken during september of 2023.”

“The organization makes its form 990 available for public inspection as required under section 6104 of the internal revenue code. The return is also posted on guidestar.org and other similar types of websites. In addition, the financial statements, conflict of interest policy, articles of incorporation and by-laws are also available upon written request or by calling the organization directly.”

“The organization contracted with a professional employer organization (peo) for services, including but not limited to, payroll, timekeeping, employee benefits, hr administration and workforce regulatory compliance needs. As the employer of record for tax purposes, forms w-2 and w-3 are issued by the peo and filed under the peo's federal ein. In this co-employment arrangement, the organization is the common law employer and, accordingly, compensation is reported on form 990, part vii, section a and part ix, lines 5-10.”

“Change in value of beneficial interest 8,313.”

“The finance committee assumes responsibility for the oversight of the audit and the selection of an independent accountant. This process has not changed from the prior year.”