Stepping Stone Ministry Inc

“All bookkeeping is now provided by an accounting firm who also prepared the tax return. Executive Director brings all check requests and deposits to the accounting firm for processing. When the tax return is prepared, a preliminary Form 990 is given to the President of the Board who reviews and asks questions regarding anything on the Form 990 that he does not understand. He then signs the return for filing. At the next Board Meeting copies of all bookkeeping for the year and the tax return are presented to the Board and the tax preparer is available for questions if needed.”

“The Board of Directors meet on a regular basis and all decisions regarding business affairs are made at that time. Any Board Member would be able at this time to question any business transactions that would involve a business arrangement that would create a conflict of interest. The Board keeps very abreast of all affairs.”

“The Board Members review like kind positions within the general geographic region and base their decision on going salaries for like-kind positions.”

“Salary computations are based on the same directives as that used for decision making for the Executive Director.”

“Due to the fact that this non-profit provides low-income housing and has strict government licensing requirements, the business matters are not published for the general public. However, the tax return and financials are available upon request to anyone that asked for them.”

“The facility has return to regular operations since the State Parole Board of Texas allowed effective 1/1/2022. Year 2023 all programs and original rules are back in operations and living quarters are available for any qualified applicant.”

“There is a change in assets due to retiring of items missed in previous years that were retired in the depreciation schedule and not recorded in the general books. Items removed from assets this year were washing machines, sound system, and water heater for a total of $9,804. And $16,367 were transferred and given to the current church leasing the chapel.”

“Church expenses 0. 0. 0. 0.”

“Contract labor 10758. 10758. 0. 0.”

“Equipment rental 14400. 14400. 0. 0.”

“Groceries 27953. 27953. 0. 0.”

“Business meetings 832. 832. 0. 0.”

“Repairs 1703. 1703. 0. 0.”

“Septic repairs 3337. 3337. 0. 0.”

“Telephone 1286. 1286. 0. 0.”

“SUPPLIES 437. 437. 0. 0.”

“Lawn care 328. 328. 0. 0.”

“Interest expense 9. 0. 9. 0.”