Infinite Family

“The prepared form 990 is reviewed by the chief executive officer and the members of the governing body before the return is 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 $9,396, which is significantly below industry-comparable compensation. Compensation for an industry-comparable position would be $90,000. Thus, donated services include $80,604 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.”

“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 u.s.-based 501(c)(3) 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 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, the form 990 represents an incomplete overview of the organization's financial performance and situation. Material factors in 2016 that are not reflected include: 1) south african sources represented 46% of total support and revenues; however, funds that are received and expended in south africa are not reported as part of this form 990. 2) unrestricted net assets increased by $82,643 per generally accepted accounting principles and $74,446 as reported using constant currency calculations. 3) total assets increased by 53% per generally accepted accounting principles and 41% according to constant currency calculations. Per the 2016 consolidated financial statements infinite family's total expenses of $399,743 were allocated $298,079 (75%) to program service expenses, $48,941 (12%) to management and general expenses, and $52,723 (13%) to fundraising expenses. Infinite family's u.s. Audit and consolidated financial statements are prepared by wegner cpas and are available at www.infinitefamily.org.”