Los Angeles Habilitation House Inc

“There are monthly closes on the accounting system that allow for a reconciliation to be prepared and any adjusting journal entries to be made and documented. There are reoccurring journal entries for fixed asset deprecation and prepaid expenses that are reviewed against a schedule. There is a quarterly review of the financial statements, comments and notes are received and any changes are made or a meeting is held to discuss why the change is not considered to be made. The fiscal year is closed within 30 days of the end of the calendar year. Prior to this point, the financial statements reviewed with time for any changes/notes to be considered and made as appropriate. Financial statements are reviewed at board meetings with comments/notes/feedback received and discussion about any items in question. The 990 is prepared after the review of the financial statements takes place and a copy is provided to all members for review with at least two weeks of time for review/comments/feedback/notes.”

“The written conflict of interest policy is reviewed against the industry standard for such a policy and against any changes in the law, federal, state, or local that would impact the policy and require an update. There is a bullet point in each board meeting for members to share or report any conflicts of interest. As well throughout the year, any member can reach out to the executive management team to share a conflict of interest or get guidance prior to making a business decision that might cause such conflict. All new board members are given a copy of the policy as their on-board process with time to review and a follow up from the executive management team to understand if there are any conflicts to report. This is documented and everyone is asked to sign the conflict of interest policy annually, indicating there are no conflicts of interest to share. Currently, there are no conflicts of interest that have been presented by a board member.”

“There is a compensation review that take place against reports and industry trends each year. There are also benchmark reports by rating agencies and universities that are referenced. Currently the executive management team is under comparable rates. There are several partner organizations that we reach out to and understand how they are changing their compensation structures, hiring practices, onboarding, and benefit packages.”

“Overall market changes and market insecurity cause compenstaion reviews to take place. Online there is a lot of information you can get that includes salary ranges/hourly wage ranges. Within the current labor market, where there are still job openings for entry level jobs, which makes it more difficult to hire. There are several partner organizations that we reach out to and understand how they are changing their compensation structures, hiring practices, onboarding, and benefit packages. There are also benchmark reports by rating agencies and universities that are referenced and online searches to see what other comparable job openings are offering. One contract follows the Service Contract Act which determines hourly wages, which are above state minimum wage. All key employees are all making above minimum wage due to a tough labor market.”

“The organization makes this document available by request and an appointment at their office at 2041 San Gabriel Ave., Long Beach, CA 90810 and through the following websites: guidestar.org and https://apps.irs.gov/app/eos/allSearch and https://rct.doj.ca.gov/Verification/Web/Search.aspx?facility=Y The IRS and the California Office of Attorney General publish copies on their websites.”

“No changes to accounting method from prior years.”