Pilnet

“Pilnet engages an outside accounting firm to prepare its form 990 and takes the following steps to ensure that the return is complete and accurate. Management reviews the draft form 990 and communicates with the accountants about any necessary changes. They then send the draft to the audit committee for review. The audit committee reviews the draft, meets with the accountants to discuss it, and, when satisfied, approves the draft and sends it to the full board for review prior to filing with the internal revenue service.”

“Upon being elected, appointed or employed as a board member, officer or key employee, and annually thereafter, at the time of the annual meeting of the board, each such person must sign and give to the secretary of pilnet a statement, disclosing in writing, to the best of his or her knowledge, any entity of which such person is an officer, director, trustee, member, owner (either as a sole proprietor or a partner), or employee, and with which pilnet has a relationship, and any transaction in which pilnet is a participant and in which the director might have a conflicting interest. Any statement which indicates a conflict or potential conflict is referred to the audit committee. When an individual becomes aware that a matter in which he or she has an interest is scheduled to come before the board or any committee for decision or approval, such person must immediately disclose the interest to the audit committee and must refrain from attempting to influence the deliberations or voting on the matter. A person who has an interest in a matter may not participate in a discussion of the matter, must leave the room in which discussion is carried on, and may not vote on the matter unless the board or committee, without the vote of the person with an interest, decides that the interest does not present a conflict of interest.”

“The executive committee sets the compensation of the co-executive directors and key employees, if any, by formal decision after reviewing performance and analyzing salaries of comparable organizations for comparable positions and reports its decisions to the board. This was last completed in august 2022. The co-executive directors set the compensation for other employees according to a board-approved salary structure that considers experience, responsibility and comparable compensation data.”

“The organization makes its form 990 available for public inspection as required under section 6104 of the internal revenue code. The return is posted on guidestar.org and other similar websites. In addition, the form 1023, financial statements, conflict of interest policy, articles of incorporation and by-laws are available upon written request.”

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