Life'S Worc Inc

“The 990 is presented to the finance committee of the board of directors in draft format by the ceo and cfo. Each page of the 990 is reviewed at this time. The finance committee approves the 990, with the final copy being shared with the entire board of directors at the next regularly scheduled board meeting.”

“All board members, officers, key and highly compensated employees are required to complete a conflict of interest disclosure form. The agency's conflict of interest policy is reviewed annually at a board meeting. If a conflict exists where a board vote is required, the member with the conflict is recused from participating in the vote.”

“The organization uses an outside independent accounting consulting firm to perform a compensation analysis for the ceo/executive director, associate executive director and chief financial officer. The compensation analyses include compensation surveys based upon the compensation and fringe benefits reported on the 990 tax returns of comparable agencies in the industry. The results of this compensation analysis are presented to the executive committee (acting as compensation committee), who review the analysis to determine appropriate compensation levels and ensure compliance with the due diligence guidelines as outlined in irc 4958.”

“See response to part vi, line 15a.”

“The organization's 990 tax returns are available on the guidestar.org website. At the request of potential and existing partners, we provide audited financial statements, 990 tax return and our conflict of interest policy.”

“The cares act appropriated 178 billion for the u.s. Department of health and human services (hhs) provider relief fund (prf) to be distributed to hospitals and healthcare providers for lost revenues and incremental increases in expenses as a result of the covid-19 outbreak. As of the date of this report, the lw has applied for and received 1,053,423 from hhs for the prf. This amount has been reported in covid-19 provider relief funds on the accompanying consolidated statements of activities. The prf are subjected to post payment reporting requirements. The recognition of amounts received is conditioned upon the provision of care for individuals with possible or actual cases of covid-19, certification that payment will be used to prevent, prepare for, and respond to coronavirus and shall reimburse the recipient only for healthcare related expenses or lost revenues that are attributable to the coronavirus. These monies have been recognized following the grant accounting model, recognizing income over the applicable reporting period as management becomes reasonably assured of meeting the required criteria. Lw applied the full amount of prf received in june 2021 to incremental expenses and lost revenues. Applicable revenue of 46,971 for fiscal 2022 is reported on part viii, line 2d.”

“Life's worc provides residential supports and community services to hundreds of individuals throughout queens, nassau and suffolk counties in new york. Our person-centered philosophy is incorporated into the day to day program operations and we ensure that regardless of the level of ability of physical handicap, each and every person lives an enviable life rich in connections with family, friends, community participation and personal choice.”

“Life's worc provides community habilitation (formerly referred as in-home residential habilitation) which provides supports to approximately 85 children and adults throughout queens, nassau and suffolk counties in new york. Community habilitation is designed to provide individuals who reside with their family needed supports and assistance in the development of independent living skills. Beginning in 2020, life's worc provides community habilitation - residential to approximately 180 individuals. These services were funded by opwdd to provide day hab services in a certified residential setting since individuals could not transport to attend day hab programs during the pandemic. Additionally, because dh programs have to comply with social distancing guidelines and maximum capacity indoors, ch-r is still being funded.”

“Community based prevocational program: provides learning and vocational training, including unpaid work experiences, to help individuals develop general, non-job task specific strengths and skills that contribute to employability. This program helps prepare people for integrated, competitive employment in the future by teaching the necessary 'soft' skills required to be successful in the workplace. Acces-vr: in partnership with adult career and continuing education services-vocational rehabilitation (acces-vr), this program assists youth and adults with disabilities to obtain and maintain employment through vocational instruction, education, rehabilitation, and career development. Family support services/respite recreation - provides programs in queens and long island designed to offer children, teens and young adults with i/dd and autism with opportunities for social connections. These recreational venues focus on development of social skills and are age specific activities integrated in the local communities. Customized employment - provides supports and assistance to individuals with i/dd and autism with innovative job development based upon the individual skill sets and the needs of the employer. The goal is to match an employer with a job applicant leading to competitive employment opportunities. Behavior intervention services - provides progressive and innovative solutions and support to families and school districts throughout queens, nassau, suffolk and bronx regions. Utilizing applied behavioral analysis (aba) approach, the supports incorporate opportunities for learning across all settings and environments for individuals who may have significant or challenging behavior and need specialized supports.”

“In april 2015, the financial accounting standards board (fasb) issued accounting standards update (asu) 2015-03, interest - imputation of interest (subtopic 835-30): simplifying the presentation of debt issuance costs. Asu 2015-03 requires that debt issuance costs be presented as a direct deduction from the carrying amount of the related debt liability, consistent with the presentation of debt discounts. Prior to the issuance of asu 2015-03, debt issuance costs were required to be presented as deferred charge assets, separate from the related debt liability. Worc has adopted asu 2015-03 during the year ended june 30, 2017. As of june 30, 2022 and 2021, deferred bond issuance costs of 725,165 and 858,707 respectively, are netted against bonds payable on the consolidated statements of financial position. On march 27, 2020, president trump signed into law the coronavirus aid, relief and economic security act (the cares act). The cares act, among other things, includes provisions relating to refundable payroll tax credits, deferment of employer side social security payments, net operating loss carryback periods, alternative minimum tax credit refunds, modifications to the net interest deduction limitations, increased limitations on qualified charitable contributions and technical corrections to tax depreciation methods for qualified improvement property. The cares act also appropriated funds for the small business administration ppp loans that are forgivable in certain situations to promote continued employment as well as economic injury disaster loans to provide liquidity to small businesses harmed by covid-19. Worc applied for a loan through the ppp via the valley national bank for 7,941,155. The ppp loan was forgiven by the sba and the gain on forgiveness is reported on part viii, line 11a.”

“Life's worc received funding of 1,053,423 from the hhs provider relief fund. The cares act and subsequent appropriations created the prf to reimburse eligible health care providers for health care-related expenses or lost revenues attributable to the covid-19 pandemic. In compliance with the federal award, providers receiving greater than 750,000 are required to complete the omb single audit. Life's worc single audit is in process with the auditors as of the time of this filing.”