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 $11,957, which is significantly below industry-comparable compensation. Compensation for an industry-comparable position would be $90,000. Thus, donated services include 78,043 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 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 financials are prepared by wegner cpas. Infinite family receives funding in us dollars, rand, pounds and euros from american, south african, british and european sponsors and is exposed to foreign exchange fluctuations. During 2017, the rand appreciated from r13.7 to r12.4 to the dollar, a fluctuation of 9.5%. As a result of the rand's volatility, the value of funds transferred from the united states to south africa was lower than projected while funds raised locally were valued more highly than the previous year. Combined, these factors create the perception that infinite family's 2017 consolidated support and revenue increased by 5.3%. When compared on a constant currency basis, infinite family's 2017 consolidated support and revenue increased by 0.3% over 2016. Program, management and general, and fundraising activities are conducted by staff in the united states and south africa with contributions received in multiple currencies allocated to activities in both countries. In 2017, the expenses in the united states and south africa comprised 54.5% and 45.5%, respectively, of total expenses. The distribution of total expenses between program, management and general, and fundraising activities was 79.2%, 10.6% and 10.2%, respectively. Infinite family's financial statements are prepared in accordance with international financial reporting standards for small and medium-sized entities in south africa and generally accepted accounting principles (gaap) in the united states. However, management uses non-gaap financial reports, including, but not limited to, constant currency schedules of activities and financial position to reduce the effects of currency volatility and to evaluate annual financial activities in a consistently comparable manner despite the currency volatility that may be experienced between periods.”