Common Impact Inc

“Common impact, inc. Has its form 990 prepared by an outside accounting firm and has established the following review process to ensure that the information reported is complete and accurate. When the form 990 has been prepared, reviewed by the chief executive officer, board and select board members, and is ready to be filed with the internal revenue service, it is electronically sent to the board prior to filing with the internal revenue service.”

“The organization has a written conflict of interest policy. The policy is applicable to the directors, officers or trustees, and any key employees. If there is an actual conflict, an interested person must disclose the existence of his or her private interest in and the material facts relating to a proposed transaction or arrangement to the board or to the members of any committee with board-delegated powers considering the transaction or arrangement. The organization regularly and consistently monitors and enforces compliance with the policy. Each year the board members must disclose if they have conflicts to report.”

“Common impact last reviewed its ceo and leadership team compensation in 2022. It partnered with external consultant edgility to review compensation practices. The compensation review process was employed for all positions at the organization, including the ceo and leadership. The process involved the following: 1) reviewing 3 data sources (kenexa companalyst, 990 returns, guidestar nonprofit compensation report) plus peer organizations' data, 2) aligning on market benchmarks and salaries, and 3) developing a salary structure based on targeted percentile. The leadership team at the time reviewed the research data and made salary adjustment recommendations based on a tiered system for all employees (including themselves) for the board to consider. The board approved the final decision on salaries, job levels, and titles. The review by the board was not documented in any official document or minutes.”

“The organization makes its form 990 available for public inspection as required under section 6104 of the internal revenue code. The return is also posted on guidestar.org and other similar types of websites. In addition, the form 1023, financial statements, conflict of interest policy, and governing documents are also available upon written request.”

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