Infinite Family

“The prepared form 990 is reviewed by the chief executive officer and the board of directors before the return in filed with the irs.”

“The chair and the chief executive officer both have access to the confidentiality forms filed annually and understand the disclosed potential conflicts of interest. These conflicts are assessed prior to each relevant decision of the governing body if necessary. The respective directors are asked to abstain from related discussions and decisions.”

“The chief executive officer's performance is reviewed annually by the human resources committee of the governing body. There has not been a compensation review because the chief executive officer was paid a total of $8,785, which is significantly below industry-comparable compensation. Compensation for an industry-comparable position would be $90,000. Thus, donated services include $81,215 of wages provided by the chief executive officer. For irs purposes, donated services are not included in total revenue on form 990, part viii, statement of revenue. A managing director was hired during 2013. Before recruiting for this position, the human resources committee conducted an industry review of compensation paid by comparable organizations for similar services. Several statewide and national sources were consulted during this review.”

“Infinite family makes its governing documents, whistle-blower policy, document retention and destruction policy, conflict of interest policy, confidentiality policies, and financial statements available to the public upon request.”

“Infinite family is comprised of infinite family, a us-based 501c3 non-profit company, and infinite family npc, a south african non-profit corporation that is registered as a non-profit organization (npo) and a public benefit organization (pbo). South african auditors at douglas & velcich perform infinite family npc's financial audits. Infinite family's us audit and consolidated financial statements are prepared by wegner cpas and are available at www.infinitefamily.org. Infinite family receives funding in dollars, rand, pounds and euros from american, south african, british and european sponsors and is exposed to foreign exchange fluctuations. Program, development and governance activities are conducted by staff in the united states and south africa with grants received in one currency often covering activities in both. The organization's fixed assets are predominantly comprised of our five south african video mentoring computer labs, and furniture and equipment in their business offices in johannesburg and new york. As a result of our institutional and financial structure, form 990 represents an incomplete overview of the organization's financial performance and situation. Material factors in 2015 that are not reflected include: 1) south african sources represented 55% of total support and revenues, however, funds that are received and expended in south africa are not reported as part of this 990. 2) the south african rand depreciated from r11.6 to r15.5 to the dollar during 2015, a fluctuation of approximately 34%, affecting the funds available for transfer to the united states. 3) as a result of the successful completion of a 2014 grant from the tripadvisor charitable foundation, we were invited to submit an application for a second round of funding that was expected to be released before december 31, 2015. This grant, totaling $50,000 was released in 2016. Per the 2015 consolidated financial statements, infinite family's functional expense allocation was: total expenses: $511,372 program services: $404,605 (79%) management and general: $49,529 (10%) fundraising: $57,238 (11%) infinite family's consolidated financial statements are available at www.infinitefamily.org.”