Africare

“The form 990 was prepared by the outside accountants and reviewed by senior management. Prior to filing with the irs, the form 990 was provided to the board treasurer for his review, comments and questions.”

“Management reviews responses to the conflict of interest attestation by each employee and board member to ensure that there are no perceived or real conflicts. In addition, business relationships are reviewed during the procurement process. Africare requires full disclosure of the facts and circumstances of any perceived or actual conflict of interest and requires that the individual involved not be a part of any decision about the arrangement or transaction. Depending upon the nature and extent of the conflict of interest, senior management or the board may require that the relationship be discontinued.”

“Compensation of the president is based on independent data prepared by outside consultants and is reviewed and approved by the board. The deliberation and decision is documented in the board minutes. The last compensation review for the president took place in october 2015. Compensation of other key staff at the senior management level is done by the president. In addition, independent surveys are conducted periodically to ensure that compensations levels for all staff are competitive. The last compensation review for the cfo took place in october 2015.”

“The financial statements are accessible at the organization's website or upon request. The governing documents are available upon request. Africare's business conduct policies, including: code of ethics, anti-corruption, conflict of interest, whistleblower, fraud, health and safety, and harrassment policies are also accessibile at the organization's website.”

“Non-operating minimum pension liability adjustment -1,482,184. Gain on foreign currency exchange 70,277.”

“The organization is filing this form 990 prior to receiving audited financial statements and an a-133 report. Beginning balances: the irs form 990 instructions state that the beginning balance column reported on the return should match the amounts reported on the previously file form 990. The 6/30/2018 form 990 is in the process of being amended, but has not been filed yet. Accordingly, the beginning balances have been updated to reflect the proposed amended return balances, to allow for a more accurate representation of the net asset reconciliation.”