Metro Area Continuum of Care for the Homeless

“The executive committee shall have and may exercise such powers of the board of directors in the management of the business and affairs of the corporation as shall be delegated to them, subject to the limitation provided in the bylaws.”

“The organization amended its articles of incorporation to reflect a name change to threshold coc. The name change is being reported on the 2024 form 990.”

“The corporation has one class of members; namely, 'principal' members. The rights, responsibilities and obligations of each member are as follows: principal members shall be those members who wish to participate in the opportunities/services provided. Principal members may be required to pay annual membership fees as determined by the board of directors.”

“The 990 in draft form is reviewed by the board or an assigned segment of the board prior to filing the return with the irs.”

“All board members have a duty to disclose any actual or possible conflicts of interest as they arise. The interested person must disclose the existence of the financial interest and be given the opportunity to disclose all material facts to the board and committees. After disclosure of facts and any necessary discussions, the interested person will leave the board or committee meeting while the conflict is discussed among the remaining members. The remaining members then decide if a conflict of interest exists or not. All board members, committee members, and employees are also required to annually sign a statement disclosing conflicts of interest, if any.”

“The executive director's pay is determined by the executive committee, utilizing outside experts when necessary. The board discusses and confirms the line item for the position in the annual budget.”

“The governing documents are available to the public upon request.”

“Contract services: program service expenses 919,782. Management and general expenses 201,512. Fundraising expenses 51,113. Total expenses 1,172,407.”

“The organization received board and auditor approval to switch to cash basis financial statements effective 1/1/2022. The prior period adjustment shown on the current year form 990 is the cumulative difference needed to get the beginning balance sheet to a cash basis of accounting.”

“The organization is subject to a single audit in accordance with the uniform guidance as the organization expended more than $750,000 in federal awards. The required audits are underway and have not been completed for 2022, 2023 or 2024. At the time the 2022, 2023 and 2024 returns were due to the irs, the organization's internal records were available and used in preparing the required returns to meet the filing deadline. To the best of our knowledge at the time of filing, 'a true, correct, and complete return was prepared'.”