Accion Opportunity Fund Community Development

“Opportunity fund finance committee shall have the responsibility for reviewing the organization form 990 (including all pertinent schedules) before it is filed with the internal revenue service. A draft of the form 990 is presented for review by the finance committee no later than one month prior to the filing deadline. In conducting their review of the draft of the form 990, it is preferred that the finance committee shall conduct a top-level or big-picture type of review. However, if the finance committee desires or deems it necessary to conduct a more detailed review of the form 990, then they should contact the preparer of the form 990 to request copies of the relevant detailed tax return workpapers which they would like to see. Once the finance committee has completed its initial review of the form 990, a meeting or conference call will be scheduled with the preparer of the form 990 to discuss any questions, comments, and suggested revisions identified by the finance committee. The preparer of the form 990 should make any revisions to the form 990 as soon as feasibly possible to ensure that the form 990 is filed with the internal revenue service on a timely basis. All of the questions, comments and suggested revisions set forth by the finance committee should be documented, along with any responses from the preparer of the form 990. If applicable, after the form 990 has been reviewed by the finance committee and filed with the internal revenue service, the finance committee will make a presentation at the next full board of directors meeting to update the full board regarding its review of the form 990.”

“Only projects that further opportunity funds mission are considered for funding. All nmtc proposals are vetted by the nmtc advisory board. This board is certified by the us dept. Of treasury cdi fund as having low-income representatives. Including leaders of community organizations and representatives of low-income communities that are a part of opportunity funds targeted population. Only projects that have been recommended by our nmtc advisory board are presented to opportunity funds governing board for approval.”

“The organization requires each director, principal officer and board members to sign a disclosure statement which affirms they received a copy, read and understand, and comply with the organization's conflict of interest policy.”

“The board of directors approve the ceo and president's compensation and the ceo approves other officers or key employee's compensation using comparability and contemporaneous substantiation.”

“All governing documents, conflict of interest policy, and the financial statements are available upon request in writing to the organization. The form 990 is also available at guidestar.org.”

“Opportunity fund no longer provides affordable housing/community facilities loans. (this change was already disclosed in prior year)”

“The organization did not change their oversight process or selection process during the tax year for the committee that assumes responsibility for oversight of the audit.”