Covenant House

“The form 990 is prepared by a nationally renowned accounting firm in conjunction with the organization's financial department. A copy of the draft form 990 is presented to the audit committee of the board and once approved; it is distributed to the entire board prior to its filing with the internal revenue service.”

“The organization requires annual disclosure and affirmation of the conflict of interest policy by all officers, directors and key employees, which is monitored annually by the board's audit committee. The disclosure statement required each officer, director, and key employee to disclose any business or personal interests, direct or indirect, that the person may have in an organization that completes with or does business with covenant house international (chi) or any other organization business/ agency affiliated with chi. If a conflict is determined to exist, it must be reported and addressed to the satisfaction of the organization. Any other person having a conflict, and attending said meeting, shall retire from the room in which the board or committee is meeting and shall not participate in the final deliberations or decisions regarding the matter under consideration. Any interested director shall also abstain during such vote. The minutes of the meeting of the board or committee shall reflect that the conflict of interest was disclosed and that the interested person was not present during the final discussion or vote and did not vote.”

“The president/ceo's, other officers', and key employees' compensation is determined by the executive committee acting as the compensation committee working in conjunction with comparability data such as salary surveys with similarly sized non-profits. Periodically the organization hires an independent consultant to review comparable salaries for the president/ceo, other officers and key employees. Generally the board evaluates compensation annually. The determination is based on the performance evaluation that factors into account effectiveness, performance, and achievement of goals. Records of executive committee's compensation decisions are written by the board chair and maintained in the president's folder - human resources department record. This process was last undertaken in fiscal year 2015.”

“Covenant house makes its form 990 available for public inspection upon request and on the organization's website www.covenanthouse.org. Covenant house makes its form 1023, governing documents, conflict of interest policy and financial statments available for public inspection upon request and at management's discretion.”

“Pension related activities -3,867,922. Change in value of split interest agreements -60,858. Change in value of beneficial interest in trust -166,880. Write-off of uncollectible revenues -166,940.”

“The process for selecting an independent accountant and establishing a committee that assumes responsibility for oversight of the audit has not changed from prior years.”