Cora Services Inc

“Mary kay mcgettigan and mary mcgettigan have a family relationship”

“The organization has members.”

“Under the reserved powers of the bylaws article 5, section 5.6, the members have the power to elect and remove the directors of the corporation with or without cause.”

“The following decisions of the governing body are submitted to the members for ratification: determining/changing the philosophy/mission of the corporation; electing/removing the directors of the corporation; amending the articles of incorporation and the bylaws of the corporation; appointing/removing the president/chief executive officer of the corporation; creating any subsidiary organization or affiliation of the corporation with any other entity for the purpose of the joint conduct of business or charitable activities; selling, leasing or exchanging all or substantially all of the corporation's assets; the purchase, acquisition, sale, transfer, alienation, or lease of any real property of the corporation; the merging or dissolution of the corporation and determining the distribution of the corporation's assets upon dissolution; and approving any borrowing or capital lease of property in excess of ten percent (10%) of the total annual operating budget of the corporation.”

“Traditionally, the form 990 review is a three step process. The first review is by chief financial officer and president/ceo after which it is submitted to the finance committee of the board of directors for further review. Upon finance committee review of this draft, it is then forwarded to the full board prior to the signing of the return by the president/ceo of the corporation.”

“Every year each interested person (a director, officer, committee member, or employee of the corporation) shall sign and submit a disclosure statement to the chair of the governance committee of the board of directors. The disclosure statement shall disclose the nature of any existing controlling interest, financial interest, ownership interest, and/or significant relationship. A signed disclosure statement must be returned to the corporation's secretary even if it states that no controlling interest, financial interest, ownership interest, or significant relationship exists. The disclosure statement must also affirm that each interested person has received a copy of the conflict of interest policy, has read and understands the conflict of interest policy, agrees to comply with the conflict of interest policy; and understands the corporation is charitable and, in order to maintain its federal tax-exemption, must engage primarily in activities which accomplish one (1) or more of its tax-exempt purposes. Each interested person must also notify the board of any additions to, deletions from, or modifications to the information provided in his or her disclosure statement, including the addition of any new controlling interest, financial interest, ownership interest, or significant relationship. Such notification shall be submitted in writing to the chair of the governance committee of the board of directors. In connection with any proposed transaction or arrangement with an organization that is under consideration by the corporation in which an interested person has a controlling interest, financial interest, ownership interest, or significant relationship, the board or committee considering the proposed transaction or arrangement (without the interested person) shall meet, discuss, and vote upon whether a conflict of interest exists.”

“The board of directors' compensation committee is comprised of members of the board and is responsible for recommending a salary for the president/ceo. The parameters for setting the ceo's compensation are outlined in a two-year contract executed in july 2019, later amended in 2021 for a two-year term through june 30, 2023, and later amended in 2023 for a two-year term through june 30, 2025. Prior to execution of each amendment, the compensation committee determined the salary recommendation in the amendment based on a review of competitive salary data for comparable non-profit ceo's, the ceo's length/depth of experience, ceo performance and cora's financial condition. The committee discusses all recommendations in an executive session with the board of directors, whose final approval is required.”

“Both form 990 and form 1023 are available to the public upon request. Form 990 is also available to the public at guidestar.org, a third party provider. In addition, the most recent form 990 can be found on the cora services website.”

“Governing documents, which include the corporation's articles of incorporation, by laws, and the annual group ruling tax determination letter are available upon request. A conflict of interest policy is required by the corporation's by laws, and is included in the board policies and procedures manual and employee personnel policies. They are also posted electronically on the office 365 coranet page on the board and staff website. The auditied financial statements are available to the public on our website and upon request by signing a request for information form which is available at the main reception desk at 8540 verree road, philadelphia, pa 19111.”

“Rooted in a tradition of care and compassion, the mission of cora services is to assist children, youth and families experiencing emotional, academic and social challenges which impede their development and productivity. A private, not-for-profit service organization located in philadelphia, pa, cora services provides an array of comprehensive professional services focused on prevention, intervention, remediation and referral assistance.”

“The board of directors assumes the responsibility of selecting an independent accountant as well as the oversight of the audit of the financial statements. This process remains unchanged from the prior year.”