Providence House Inc

“The Executive Committee is comprised of the President and four members of the Board of Directors, as voted on by the entire board. The Executive Committee may act on behalf of the Corporation in matters of urgency when the entire Board cannot be convened and reports to the Board of Directors for ratification of their actions at the next Board meeting.”

“Form 990 is prepared by an independent CPA firm and then reviewed in detail and approved by the Director of Finance, Executive Director, and Finance Committee. The Finance Committee then reports to the full Board that they have approved the 990 for filing. A copy of the final 990 is provided to the Board before being filed with the IRS.”

“The Board, Officers, and Key Employees are required to review annually an updated conflict of interest policy and disclosure, with a signature page that is required to be signed and returned to the organization and kept on file. The Executive Committee reviews the signed statements. Should any potential conflicts of interest be disclosed, the Board member or Officer would be asked to refrain from participation in any decision with regard to matters affected by the relationship. This process is documented in the Board's minutes.”

“15a - The Executive Director's compensation is reviewed by the Board of Directors via comparisons to third party market data. The compensation is approved and the approval is noted in the Board minutes. This process is completed annually. 15b - Other Officer and Key Employee compensation is determined by the Executive Director on the basis of performance evaluation, seniority, and compensation comparisons to other nonprofit entities. The Board approves compensation as part of the annual budget process. The process and deliberations are documented in the minutes, and this process is completed annually.”

“The organization makes its governing documents, conflict of interest policy, and financial statements available to the public upon request.”

“Providence House has exercised due diligence in determining whether to participate in a joint venture with a taxable entity. This due diligence included extensive Board involvement and review of all documents by an attorney. Providence House has evaluated participation in joint venture agreements under applicable federal tax law and has taken steps to safeguard the organization's exempt status with respect to joint venture arrangements.”

“Consultants: Program service expenses 579,008. Management and general expenses 409,894. Fundraising expenses 660. Total expenses 989,562.”

“In accordance with the principles of FASB ASU 2016-14 (ASC 958), the organization has implemented required changes to its audited financial statements for the period ended 6/30/2019. The 2018 Form 990 and its associated schedules have not been updated to reflect changes made by this standard. Thus, we have reported the revised net asset categories from the audited financial statements as follows on Form 990, Part X, Lines 27-29: Line 27 - Net assets without donor restrictions $7,780,542 Line 29 - Net assets with donor restrictions $ 145,045 Total net assets $7,925,587”

“The organization's Finance Committee assumes responsibility for oversight of the audit of its financial statements and selection of its independent accountant. This process has not changed since the prior year.”