The Ql Plus Program

“The organization does not have any committees with the authority to act on behalf of the board.”

“The form 990 was prepared by the outside accountants and reviewed by the board chairman, treasurer and executive director. The form 990 was then submitted to the full board prior to filing with the irs.”

“In connection with an actual or possible conflict of interest, an interested person discloses the existence of the financial interest and is given the opportunity to disclose all material facts to the board of directors considering the proposed transaction or arrangement. After disclosure of the financial interest and all material facts, and after any discussion with the interested person he or she leaves the governing board while the determining of a conflict of interest is discussed and voted upon. After exercising due diligence, the board of directors determines whether the organization can obtain with reasonable efforts a more advantageous transaction or arrangement from a person or entity that would not give rise to a conflict of interest. If a more advantageous transaction or arrangement is not reasonably possible under circumstances not producing a conflict of interest, the governing body determines by a majority of vote of the disinterested directors whether the transaction or arrangement is in the organization's best interest, for its own benefit and whether it is fair and reasonable. In conformity with the above determination it makes its decision as to whether to enter into or remain in the transaction or arrangement.”

“The organization makes its governing documents, conflict of interest, and financial statements available upon request.”

“The following groups have been included in the number of volunteers: board members, mentors, and students working on qlplus senior design projects.”

“On march 16, 2021, the organization received loan proceeds in the amount of $132,530 under the paycheck protection program. The promissory note calls for monthly principal and interest payments amortized over the term of the promissory note with a deferral of payments for the first ten months after the last day of the covered period. Under the coronavirus aid, relief, and economic security act (cares act), the promissory note may be forgiven by the small business administration in whole or in part. The organization used the proceeds for purposes consistent with the paycheck protection program and received forgiveness in full in november 2021 by the sba in the amount of $132,530. There are no further requirements regarding this funding and the organization intends to record the amount forgiven as revenue from the debt extinguishment during fiscal year 2022.”