Matthew 25 Ministry Hub

“The form 990 is prepared by an independent accounting firm. Copies of the completed draft form 990 (including required schedules) will be distributed to the administrative/finance committee for review and approval. Any questions or concerns will be noted and addressed, with any necessary changes being incorporated in the form 990 as appropriate. The updated draft of the form 990 (including required schedules) will be distributed to every voting member of the board of directors prior to filing with the irs.”

“Each director, principal officer, committee member, and employee shall annually sign a statement which affirms such person: has received a copy of the conflict of interest policy, has read and understands the policy, has agreed to comply with the policy, and understands matthew 25 is charitable and in order to maintain its federal tax exemption it mush engage primarily in activities which accomplish one or more of its tax-exempt purposes. Matthew 25 also conducts periodic reviews to ensure compliance. Any conflicts that exist will be noted in the minutes. If a conflict does arise and it is appropriate a committee of disinterested persons may be established to investigate alternatives. If a more advantages transaction that does not cause a conflict of interest can be located through reasonable efforts it will be pursued as a viable option. The conflicted party will not vote on the conflicted transaction and will leave the meeting during any discussion on the topic.”

“Compensation of the executive director shall be periodically reviewed by the executive committee to determine whether compensation arrangements and benefits are reasonable, based on competent survey information, and the result of arm's length bargaining. Salary recommendations are taken to the board for approval. The review process was last completed in 2016. Form 990, part vi, section b, line 15b: there are no other compensated individuals that meet the definition of officer or key employee for purposes of the form 990, therefore this question has been answered no.”

“The organization's governing documents, conflict of interest policy, and financial statements are available upon request.”

“The organization has previously disclosed its 'beneficial interest in assets held by community foundation' as an endowment. This beneficial interest does not meet the sfas 117 paragraphs 13 through 16 (asc 958-210 and 958-225) definition of endowment and as such is being removed from the return, as per the instructions to schedule d, part v.”

“Depreciation on capitalized donated services -1,606.”

“There were no changes to the procedures used by the audit oversight committee.”