Pittsburgh Technology Council

“The form 990 is prepared by an independent cpa firm. After the cpa firm prepares the return, the director of finance does a full review of the form and discusses it with the cpa firm. Then the director of finance reviews the form, it is given to the president for her review and signiatures. Reviews by the board are done at quarterly board meetings.”

“Conflict of interest policies are to be completed each year. They are examined by management and where a conflict exists the appropriate actions are taken.”

“Data is compiled from an outside consulting firm. This data is taken in front of the compensation committee. The compensation committee decides whether to approve or deny all officer or key employee compensation.”

“The organization does not make its governing documents, conflict of interest policy, or financial statements available to the public.”

“On january 26th, 2021, the organization qualified for and received a loan pursuant to the paycheck protection program, a program implemented by the small business administration under the coronavirus aid, relief, and economic security act. The principal amount of the loan was $275,485. The loan bears interest at a fixed rate of 1.0% per annum, has a two year term, is unsecured and guaranteed by the small business administration. The principal and interest are eligible for forgiveness under the paycheck protection program upon meeting the performance requirements of program. The organization intends to apply for the maximum forgiveness of the ppp loan. As of july 06, 2021 the organization had met the performance requirements therefore the amount has been included as revenue on part viii line 1e .”

“No process changed from the prior year.”

“On march 18, 2021, the organization qualified for and received a loan pursuant to the paycheck protection program, a program implemented by the small business administration under the coronavirus aid, relief, and economic security act. The principal amount of the loan was $275,485 the loan bears interest at a fixed rate of 1.0% per annum, has a two year term, is unsecured and guaranteed by the small business administration. The principal and interest are eligible for forgiveness under the paycheck protection program upon meeting the performance requirements of program. The organization intends to apply for the maximum forgiveness of the ppp loan.”