Marcus Hook Community Development Corporation

“A copy of form 990 has been provided to each voting member of the governing body for review prior to filing.”

“The organization's chief employed executive and chief employed finance executive and/or contracted manager monitor proposed or ongoing transactions for conflicts of interest and disclose any to the chairman of the board of directors in order to deal with potential or actual conflicts, whether discovered before or after the transactions have occurred. When a conflict is disclosed to the chairman, he or she then determines whether to take no action, disclose the conflict to all board members, ask the interested person to recuse from participation in related discussions, or ask the interested person to resign from his or her position.”

“The process for determining compensation of the chief employed executive is as follows: 1)the compensation is reviewed and approved by the governing board or compensation committee, provided that persons with conflicts of interest with respect to such compensation are not involved in this review and approval, 2)the compensation is reviewed and approved using data as to comparable compensation for similarly qualified persons in functionally comparable positions at similarly situated organizations, and 3)there is contemporaneous documentation and recordkeeping with respect to the deliberations and decisions regarding the compensation arrangement.”

“Form 990 and form 1023 are available upon request. Additionally, form 990 is available on guidestar.org.”

“Governing documents, conflict of interest policy and financial statements are available upon request.”

“Property management fees: program service expenses 8,655. Management and general expenses 0. Fundraising expenses 0. Total expenses 8,655. Miscellaneous professional fees: program service expenses 0. Management and general expenses 5,361. Fundraising expenses 0. Total expenses 5,361.”

“The finance committee, chaired by the treasurer, has responsbility for supervising the proper administration and expenditure of all funds, as well as arranging for an annual audit of the financial records. The process governing oversight of the audit and selection of an independent auditor has not changed from the prior year.”