Life Centers Inc.

“The Executive Committee is composed of the officers of the organization and other board members as appointed by the Board. The Chairman of the organization serves as the Chairman of the Executive Committee. The Executive Committee has the power to act on behalf of the corporation in cases of emergency where action must be taken and the Board is unable to convene a quorum act.”

“Life Centers has an independent CPA firm that specializes in not-for-profit entities prepare the Form 990. The Form 990 is reviewed by internal management and is emailed to the governing board for review before being filed with the IRS.”

“All board members, executive management, and other employees are required to disclose potential conflicts of interest on a conflict of interest disclosure form requiring signature. The signed statements are reviewed by the Director of Operations. If a conflict arises, the board member or employee must make the conflict known and excuse himself/herself from any decision making related to the particular subject matter.”

“A professional company skilled in human resources and compensation matters conducted a review of compensation and presented recommendations to the Board of Directors. The independent Board of Directors then made decisions related to the compensation of the Executive Director and Director of Operations. The board approval is included in the minutes.”

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

“In accordance with the principles of FASB ASU 2016-14 (ASC 958), the organization has implemented required changes to its audited financial statements for the period ended 6/30/2019. To date, Form 990 and its associated schedules have not been updated to reflect changes made by this standard. Thus, we have reported the revised net asset categories from the audited financial statements as follows on Form 990, Part X, Lines 27-29: Line 27 - Net assets without donor restrictions $ 723,964 Line 29 - Net assets with donor restrictions $ 38,200 Total net assets $ 762,164”

“The organization's Board assumes responsibility for oversight of the review of its financial statements and selection of its independent accountant. This process has not changed since the prior year.”