Mon Valley Initiative

“The board of directors is composed of members.”

“The members vote on the election of directors and officers to the board of directors.”

“Mvi's independent auditor and mangement review form 990 in draft form with the audit committee. Management then distributes the draft 990 to the board of directors for review. Once the 990 has been reviewed by the board, management files form 990.”

“Mon valley initiative's board has approved a written conflict of interest policy that addresses conflicts of interest and disclosure requirements, and establishes accountabilities for both the board and staff. Management is obligated to review the policy with the board on an annual basis, and to report any issues as they become apparent. The ceo and cfo share compliance responsibilities (with the cfo being directly responsible for day-to-day compliance), and the audit committee and board share oversight responsibilities. Managers make regular reports to both oversight bodies. The conflict of interest policy complements mvi's employee handbook, which establishes staff member responsibilities with respect to conflicts of interest.”

“The ceo submits a summary of her accomplishments for the year to the chair of mvi's board of directors. The chair then reviews te accomplishments and various comparability data with the board of directors, and recommends a course of action. The directors, all whom are independent, discuss the recommendation, and after deliberation vote on the recommendation. All deliberations and decisions are contemporaneously substantiated in the minutes of the meeting. Mvi's cfo then reports on the compensation review process for mvi's other officers and employees. The board periodically reviews and approves salary ranges for all mvi positions, as often as appropriate. The cfo's compensation is determined in the same manner as that of all other staff members with exception of the ceo. Mon valley intiative uses a formal, written annual performance evaluation process for staff members, and salary actions are determined in the context of the evaluations, relative performance levels, approximate prevailing market pay rates and the organization's budget for the year.”

“Mon valley initiative (mvi) will post its form 1023 and its current 990 (excluding schedule b and any other confidential sections) on the organization's website. Mvi will also make form 1023 and form 990 available to the public upon request, and will make its governing documents, conflict of interest policy, and audited financial statements available for public inspection at mvi's office. Mon valley initiative's board of directors chartered an audit committee in 2008, with specific powers and duties related to mvi's independent audit program and internal control program. The committee meets on a regular basis, and provides active oversight to mvi's financial and compliance activities. The committee is directly and solely responsible for the appointment and dismissal, evaluation, compensation, and oversight of mvi's independent auditor.”

“Mon valley initiative is a regional community development coporation representing communities and stakeholders along the monogahela river and its tributaries in three southwestern pennsylvania counties. Mvi is organized into three program areas, to best carry out its mission of "mon valley initiative strengthens the mon valley region by responsibly investing in our people and places". The three program areas are real estate and community development, housing counseling and workforce development and financial coaching.”

“Real estate development: the purpose of mvi's real estate development program is to help rebuild the fabric of mvi's member communities, thereby stabilizing both the built environment and property values, maintaining the tax base, and promoting a culture of public safety and community confidence. Mvi provides direct real estate development services through existing programs including "rehab for resale" (acquisition, renovation and resale of existing blighted and vacant properties), new construction housing in targeted areas, owner- occupied rehabs, residential rental development, the development of strategic commercial spaces in targeted business districts, and various complementary initiatives in community planning, zoning and marketing outreach. Mvi and its locally-based partners have now completed construction, redevelopment or facilitated the transfer of 675 units of housing, with 8 units under construction and 12 units in predevelopment.”

“Housing counseling: the mon valley initiative national intermediary is a hud-approved national housing counseling intermediary that provides administrative services, housing counseling funding, and performance monitoring services to a national network of sub-grantee agencies. The agencies in turn provide eligible housing counseling services to participants in their local areas. During the 2024 hud fiscal year, the agencies provided housing counseling to 7,122 households. Mvi's housing counseling program is a sub-grantee agency of the mon valley initiative national intermediary. The purpose of mvi's pre-purchase housing counseling program is to educate and assist individuals and families, with low and moderate incomes, in the process of obtaining an affordable mortgage to facilitate the purchase of a home. Mvi provides credit and budget analyses, and hud- and phfa-approved housing counseling action plans to bring participants to mortgage-readiness. Mvi also coordinates services with several other housing counseling agencies in our area. During 2024, mvi's housing counseling program provided assistance to 111 participants through pre-purchase housing counseling. Of those receiving pre-purchase counseling, 37 went on to become homeowners.”

“Workforce development and financial coaching: the purpose of mvi's workforce development and financial coaching program is to increase the income levels and financial self-sufficiency of local residents through effective career development services and financial coaching, assisting the unemployed and under-employed to advance. In addition to the assistance provided to participants, the team works with local employers to understand their human resource needs. Mvi provides direct services to participants through basic career counseling, financial coaching, classroom work, seminars, and pre- and post-employment case management. Mvi also works with mon valley employers to identify skill requirements and employment opportunities, and to make connections on behalf of mvi's participants. In addition to direct recruitment and job fairs, employers volunteer presenting in career exploration workshops and doing practice interviews with participants. In 2024, mvi served 328 participants. "served" is defined as meeting a program milestone: enrolled, completed the program, obtained employment, or maintained employment for at least six months. During the year, 224 participants enrolled in mvi's career development planning process, 44% of which gained employment. During the year, 55 unique employers hired mvi participants. Of those served, 95% continued with mvi's one-on-one financial coaching program.”

“Adj. For real estate carrying value -4,952”