Part of the Solution Inc

“Form 990 is prepared by an accounting firm, who specializes in servicing non-profit organizations, and works in collaboration with the organization's financial department. The form is reviewed by management who then communicates any questions or comments to the tax preparers. Once approved by management, the form 990 is distributed to the full board of directors for review before it is electronically filed with the internal revenue service”

“Part of the solution currently has in place a conflict of interest policy that applies to any director, officer, and key employees which it annually monitors and enforces. The board mandates that all members of the governing body annually sign a conflict of interest statement and disclose any potential or actual conflicts that may exist . Failure by a director to complete an annual disclosure may be cause for removal from the board of directors. Any director or officer who has an interest in a related party transaction must disclose in good faith to the chair of the board or appropriate committee the material facts concerning such interest. Individuals with such relationships must not be present during, or participate in, any board or board committee deliberations or vote on any matters giving rise to the conflict, or potential conflict of interest. The existence of all such conflicts of interest and their resolution, as well as any issues relating to them, will be fully documented in the summary of the meeting.”

“Part of the solution has a compensation policy that consists of the utilization of comparability data, the review and approval by independent parties and contemporaneous substantiation of the deliberation. Research (including job posting websites and salary surveys) is utilized to determine a reasonable pay range in the existing marketplace for a certain position. Annual increases are based on ensuring there is a cost of living increase. Additional increases are at times provided to ensure salaries are aligned with market by utilizing on-line recruiting sites for comparable data as well as published compensation reports. Compensation for the executive director is determined by the board of directors, a proposal is made by the chairman of the board and then approved by the full board of directors. The process is documented in the board meeting minutes. Compensation for the other officer (coo) is determined and approved by the executive director.”

“Part of the solution makes its governing documents, conflict of interest policy and financial statements available to the public upon request. The financial statements for the most recent fiscal year are available on the organization's website.”

“In 2023, the organization contracted with a professional employer organization (peo) for services, including but not limited to, payroll, timekeeping, employee benefits, hr administration and workforce regulatory compliance needs. As the employer of record for tax purposes, forms w-2 and w-3 are issued by the peo and filed under the peo's federal ein. In this co-employment arrangement, the organization is the common law employer and, accordingly, compensation is reported on form 990, part vii, section a and part ix, lines 5-10.”

“Write off of uncollectible pledges -32,508.”

“The organization has a committee that assumes responsibility for oversight of the audit of its financial statements and selection of an independent accountant. The process has not changed from prior year.”