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“Information used to prepare the form 990 is compiled by the executive director and treasurer of the organization. It is reviewed by the finance and executive committees for completeness and accuracy. A copy of the form is sent to all members of the board prior to submission.”

“The executive committee is responsible for researching compensation for comparable positions at similar organizations. Based on their findings, a fair and reasonable compensation package is developed. The compensation package is then presented to the board of directors for review and approval.”

“The organization makes it governing documents, conflict of interest policy, and financial statements available upon request.”

“The organization has a finance committee who is responsible for overseeing the annual audit of its financial statements. They are responsible for the following: - recommend the external auditing firm for appointment by the board of directors. - review and approve annual audit scope and fees of the external auditing firm. - review and approve the scope of other professional services performed (or to be performed) by any independent public accountant as well as related fees. - review the annual financial audit and irs form 990 and make a recommendation to the board of directors about their acceptance. As part of the annual audit review, the committee will obtain an opinion from the auditors as to adequacy of internal controls.”

“For financial statement purposes, in-kind rent income of $210,000 representing a 10-year lease was recorded in 2010, which was the year in which the contribution was identified in accordance with us gaap. However, the in-kind rent expense is allocated over the life of the lease at an annual rate of $21,000. Accordingly, there is a timing difference of $164,500 and $143,500 for 2012 and 2013, respectively, which represents recognized in-kind revenue in excess of recognized in-kind rent expense. This deferred rent adjustment was recorded on the form 990 as a reconciling change to net assets since the form 990 excludes both in-kind income and expense from the statements of revenue and functional expenses. In 2013, the in-kind rent expense has been recorded as a decrease in net assets of $21,000.”