The Parent-Child Home Program Inc

“The Form 990 is reviewed by the CEO and audit committee. The Form 990 is presented to the full board with an opportunity to review and pose questions. The audit committee and executive committee must approve the Form 990 before filing.”

“All board of directors must sign a conflict on interest agreement annually. The agreement requires immediate written disclosure by directors to the CEO of any relationship or activities that may conflict with the best interests of the organization. If it is determined that such relationships and/or activities do interfere with the goals of the organization, the director in question must immediately recuse himself or herself from the board.”

“THE CEO's compensation is reviewed and voted on annually by the full board of directors. Overall Staff compensation is reviewed annually by the Board finance committee. During the budget decision making process, board members compare compensation of similar positions as indicated in New York and National survey data and the affect salaries and benefits will have on the estimated annual budget.”

“All governing documents are available upon request from the organization. In addition, tax filings and audited financial statements can be located via the internet on the Organization's website.”

“In May of 2020, the Organization received a first round of loan proceeds in the amount of $267,915 under the Paycheck Protection Program (PPP). The PPP, established as part of the Coronavirus Aid, Relief and Economic Security Act (Cares Act), provides for loans to qualifying businesses and non-profit organizations. The loans and accrued interest thereon are forgivable after either eight or twenty-four weeks (depending upon the term selected by the Borrower) from the date of receipt as long as the Borrower uses the loan proceeds for eligible purposes, as defined in the CARES Act, including payroll, employee benefits, rent and utility expenses. The Borrower is also obligated to maintain its payroll levels. The amount of the loan forgiveness will be reduced if the Borrower terminates employees or reduces salaries during the aforementioned period.In January of 2021 the Organization was informed by letter from the Small Business Administration that the entire amount of the first PPP loan was forgiven. In accordance with Subtopic 958-605, the Company has recognized the PPP forgiveness amount as income, which is included in nonoperating activities on the statement of activities.In February of 2021, the Organization received a second round of loan proceeds in the amount of $314,515 under the PPP. The Organization used all of the funds from the second PPP loan for eligible expenses and subsequent to year-end was granted forgiveness by the SBA.”