Belmont Mansion Association

“Organization's process to review form 990 the 990 is reviewed by the executive director and executive committee before filing. Following the executive committee review, a copy of the 990 is then emailed to the entire board for review.”

“Organization requires disclosure by board members and employees as conflicts arise. The conflict of interest policy is presented annually at the september board meeting and all board members must confirm thier knowledge of the policy by signing a confirmation statement annually.”

“Compensation of the executive director is determined by the full board based on analysis of the local nonprofit marketplace for similar positions as well as studying 990s for similar house museums in the southern region. Executive director reviews and recommends compensation for other officers and employees to the board. He also presents this information along with the budget and the board approves the budget.”

“Governing documents disclosure explanation governing documents and financials are available by phone, mail or email. In addition the 990 is posted on third party website, givingmatters.com.”

“Reason for amending: the organization's total gross receipts, as reported in box g on page 1 of form 990, initially exceeded the $1 million audit threshold set by the tennessee secretary of state. Per guidance from the secretary of state's office, the audit determination is based on total gross receipts less government grants (reported on line 1e of form 990, part viii) and private foundation contributions. While subtracting government grants alone did not reduce gross receipts below the $1 million threshold, the organization also received private foundation gifts that further reduced its total gross receipts for audit determination purposes. After accounting for these exclusions, the organization's adjusted gross receipts fell below $1 million, and therefore, an audit is not required for the filing year in accordance with the secretary of state's instructions.”