The Stronghold Fund

“The external accounting firm prepares form 990 and supplemental schedules as soon as possible after the completion of the annual financial audit, and forwards a draft of the return to the chief financial officer for review. After reviewing form 990, the cfo forwards a draft of the return to the vice president for approval. Once the vp has approved form 990 and supplemental schedules, the return is forwarded to all board members for its review and approval. After the board has approved the return, the cfo instructs the external accounting firm to prepare a final version of the return for signature by the president and ceo for filing with the internal revenue service. Every effort is made to file the return in a timely manner with the irs. A copy of the completed, signed and filed form 990 with schedules is presented at the next board of directors meeting.”

“On an annual basis, board members and all employees complete the conflict of interest questionnaire, which asks them to list each of the potential conflicts as described in the policy. The vice president and the cfo review the forms and disclosures for all members of the board and staff, respectively. For the board members, the vice president makes a summary of the results and gives them to the board for review. The board makes a determination as to whether the perceived conflict is real or not. We have not had a real conflict in the last years, but if we did, the nature of the conflict would be reviewed by the board, and appropriate actions would be taken (depending on the type of conflict) to eliminate the conflict (this could be as simple as the board member recusing him/herself from a decision, to disposing or terminating the conflicting relationship). For employees, the management committee would review the conflict and perform a similar function to resolve the conflict.”

“Wild salmon center's process for determining ceo compensation included a survey and review of comparable data for other similar nonprofits in the us. It was prepared by katherine holler, cfo and reviewed by the chairman of wsc's board of directors. Any adjustments are approved by the compensation committee of the bod.”

“The stronghold fund's irs form 990 and financial statements are available to the public on the organization's own website.”

“Tsf's audited financials are available on the wsc's website; articles of incorporation, bylaws and conflict of interest policy are available upon request from the cfo.”

“The process for financial statement oversight has not changed from the prior year.”