Chartiers Center

“The draft of the 990 is reviewed by the audit committee and the finance committee prior to filing with the irs and sent to the entire board before submission.”

“Conflicts of interest are disclosed annually. Human resources ensures that all conflict of interest forms are returned. These are reviewed and any conflicts are monitored by the human resources department.”

“The board of directors must review and annually approve the personnel action plan. Within this document, the compensation policies for all positions, including the ceo, are outlined. With a minimum and maximum hiring range and maximum compensation for each pay classification. Each position classification must conform to the compensation limits set forth for that position within the published pennsylvania, department of human services mandated minimum and maximum rates as required in the pa code. In addition, especially for officers and key employees, market analysis of salaries is used to determine compensation.”

“Policies and procedures for all agency programs and conflict of interest policy are available upon request. Annual financial statement is listed in the annual report of the agency.”

“On april 21, 2020, chartiers center qualified for and received a loan pursuant to the paycheck protection program, a program implemented by the u.s. Small business administration under the coronavirus aid, relief, and economic security act, from a qualified lender, for an aggregate principal amount of $1,019,400 (ppp loan). The ppp loan bore interest at a fixed rate of 1.0% per annum, with the first ten months from the end of the chosen covered period deferred, had a term of two years, and was unsecured and guaranteed by the u.s. Small business administration. The principal amount of the ppp loan was subject to forgiveness under the paycheck protection program upon chartiers center's request to the extent that the ppp loan proceeds were used to pay expenses permitted by the paycheck protection program, including payroll costs, covered rent and mortgage obligations, and covered utility payments incurred by chartiers center. In january 2021, chartiers center applied for and received full forgiveness of the ppp loan with respect to these covered costs. As a result, the gaap treatment in the audited financial statements treated the forgiveness as a gain on extinguishment but following the instructions to the form 990, the forgiven amount was presented as a government grant in the form 990.”