The College Crusade of Rhode Island

“The organization has its form 990 prepared by an outside accounting firm. A complete copy is provided electronically to all members of the organization's board of directors for their review and approval at a board meeting prior to filing.”

“Annually, an ethics compliance reporting form is sent to all directors for their signature. The finance and administration committee annually reviews the completed forms to identify potential conflicts of interest. In the event of a potential conflict of interest, no transaction between the organization and one or more interested persons may be approved unless all of the following conditions are met: a) all relevant and material facts that might reasonably be construed to be adverse by the organization's interest are disclosed in good faith in advance by such director and (b) the board determines that the director has made the disclosure and fully responded to questions concerning the matters referred to above and established that the contract or transaction is fair and reasonable to the organization. (c) the board authorizes such contract or transaction by a vote of at least a majority of the directors present at a meeting at which a quorum is present, and such interested director is not counted in determining the presence of a quorum or in determining the majority vote; and (d) such interested director is not present at such time as the vote or decision is made.”

“In march 2021, an independent consulting organization was hired by the organization to redevelop the ceo's job description, research compensation data, and make recommendations to the board of directors regarding his compensation package and executive contract. Annually, the ceo's performance is evaluated by a board sub-committee, which then makes recommendations to the full board for any compensation adjustments. The review and approval is documented in the board meeting minutes. This process was last undertaken in 2022. The ceo sets the compensation for the chief finance & administration officer and the chief program officer. The ceo looks at comparative data from similar nonprofits in order to formulate compensation adjustments.”

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

“Change in fair value of beneficial interest in community foundation -23,613.”

“The organization has a 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.”