Hawaii Community Builders

“The audit committee reviews the 990 along with the Executive Director and the Business Manager. After the review, the 990 is presented to the entire Board of Directors for approval.”

“HCB requires all employees to read the conflict of interest policy on an annual basis and sign a written acknowledgement which is filed in their personnel files.”

“HCB Board of Director policy related to executive compensation requires the use of safe harbor guidelines as set forth by the Internal Revenue Service. Specifically, HCB obtains compensation from comparable organizations in the not for profit sector and at its own discretion. Compensation may be determined on a performance basis and can be subject to reasonable limits as determined by a review of similar organizations. The Board of Directors has the final approval for all executive and management compensation.”

“All governing documents, such as the conflict of interest policy, and financial statements are made available to the public by request.”

“HCB is exempt from federal income taxes under section 501 c 3 of the Internal Revenue Code. Accounting principles generally accepted in the United States of America require uncertain tax positions to be recognized in the financial statements if they are more likely than not to fail upon regulatory examination. Management has evaluated the tax position as of December 31, 2017, and for the year then ended by reviewing its income tax returns and conferring with its tax advisors, and determine that HCB had no uncertain tax positions required to be reported in accordance with such generally accepted accounting principles. With few exceptions, HCBis no longer subject to examination by tax authorities for the years ending on or before December 31, 2013, due to the expiration of the statutes of limitation.”

“Rounding and other immaterial amount to agree net assets to begining.”