Generation Hope

“Form 990 was prepared by the outside accountants and reviewed by the ceo, director of operations, and treasurer before it was sent to the board.”

“The board oversees the compliance of the conflict of interest policy. Board and staff members are required to annually disclose potential conflicts. In connection with any 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 or executive committee. Any director may recuse himself or herself at any time from involvement in any decision or discussion in which the director believes he or she has or may have a conflict of interest, without going through the process for determining whether a conflict of interest exists. After disclosure of the financial interest and all material facts, and after any discussion with the interested person, he/she leaves the board or executive committee meeting while the determination of a conflict of interest is discussed and voted upon. The remaining board or executive committee members decide if a conflict of interest exists. If a more advantageous transaction or arrangement is not reasonably possible under circumstances not producing a conflict of interest, the board or executive committee shall determine by a majority vote of the disinterested directors whether the transaction or arrangement is in generation hope's best interest, for its own benefit, and whether it is fair and reasonable. In conformity with the above determination, it shall make its decision as to whether to enter into the transaction or arrangement.”

“The compensation is reviewed and approved by the executive committee when reviewing the ceo's performance evaluation. Compensation data from salary surveys of more than 1,500 nonprofits in the d.c. Region with similar budgets is used. The ceo's performance evaluation outcome is documented in the executive committee meeting and board meeting minutes as well as the ceo's employee file.”

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

“Other professional: program service expenses 13,950. Management and general expenses 508. Fundraising expenses 800. Total expenses 15,258. Independent contractor: program service expenses 319,502. Management and general expenses 11,655. Fundraising expenses 18,313. Total expenses 349,470.”

“The organization has a committee that assumes responsibility for the oversight of the audit and of its financial statements and the selection of an independent accountant. This process has not changed from the prior year.”