Visionspring Inc

“Board directors kevin hassey and reade fahs have a business relationship.”

“The organization uses an outside accounting firm for the preparation of its form 990. Once the form 990 has been prepared, it is reviewed by members of the organization's management team. A copy is provided to the organization's board of directors after filing the return with the internal revenue service.”

“The conflict of interest policy covers any director, officer or committee member with powers delegated by the organization's board of directors who has a direct or indirect financial interest with respect to a given transaction or arrangement. An interested person has a financial interest with respect to a given transaction or arrangement if the person directly engages in a transaction or arrangement with the organization, or has, directly or indirectly, through business, investment, or family, any of the following: i. An ownership or investment interest in which the organization has a transaction or arrangement, ii. A compensation arrangement with the organization or with any entity or individual with which the organization has a transaction or arrangement, or iii. A potential ownership or investment interest in, or compensation arrangement with any entity or individual with which the organization is negotiating a transaction or arrangement. Compensation includes direct and indirect remuneration as well as gifts or favors that are substantial in nature. An interested person is required to disclose the existence of a potential conflict of interest to the board and members of committees with board-delegated powers. The interested party leaves the room while the board or board committee reviews and discusses all material facts, and votes upon the existence of a conflict of interest. A majority vote determines if there is a conflict of interest. In addition, the president or committee chairperson may appoint a disinterested person to investigate alternatives to the proposed transaction or arrangement. Following due diligence, the board or board committee will decide if a more advantageous transaction or arrangement that does not give rise to a conflict of interest is attainable. For all actual or potential conflict of interest issues, the minutes of the board and all board committees contain the names of the interested persons, names of persons present for discussion and voting, the content of the discussion, the recording of the votes, and the action taken. Each director, officer and member of a board committee annually signs a statement that attests that the individual has received, read, understood and agrees to comply with the conflict of interest policy. A copy of the disclosure form is retained within the organization's books and records.”

“Compensation data is collected through an independent third-party company with whom the company contracts. The data compiled reflects comparable market data for all visionspring's positions in the countries where we operate, across multiple companies in both non-profit and for-profit sectors, including size, revenue, and industry. That data is used to set up and update the internal salary structures (bands & levels) of the organization, as well as the overall total compensation strategy, which is shared with the board of directors. The ceo and the global vp of people and culture, along with senior leadership, review and approve all compensation decisions on an annual basis, as well as any out-of-cycle changes. The compensation for the ceo is defined by a process similar to those for other employees, except in this case the board approves. The compensation data, which is collected through an independent third-party with whom visionspring contracts, is used to analyze and compare with other companies in the non-profit sector similar in size, revenue, geographic distribution, the company's selected percentile, and other characteristics that define the complexities and competencies required for an incumbent in such a position. This data is used to make a recommendation to the board of directors that takes into account all the elements composing the total compensation for its review and approval. This process was last done in 2024. At this time, the ceo decided to cap her annual base compensation at the recommended level.”

“The form 990 and form 1023 are available for public inspection as required under section 6104 of the internal revenue service code as it is posted on guidestar.org and other similar websites. The organization also posts the form 990 and audited financial statements on its website. In addition, the financial statements, articles of incorporation and bylaws are available upon written request.”

“Other fees: program service expenses 189,885. Management and general expenses 164,359. Fundraising expenses 20,950. Total expenses 375,194. Program subcontractors: program service expenses 1,671,764. Management and general expenses 344,366. Fundraising expenses 195,230. Total expenses 2,211,360. Program service fees: program service expenses 238,974. Management and general expenses 50,345. Fundraising expenses 28,016. Total expenses 317,335. Payroll service fees: program service expenses 49,337. Management and general expenses 10,163. Fundraising expenses 5,762. Total expenses 65,262. Recruiting and intern fees: program service expenses 94,938. Management and general expenses 19,556. Fundraising expenses 11,087. Total expenses 125,581.”

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

“The organization contracted with a professional employer organization (peo) for services, including but not limited to, payroll, timekeeping, employee benefits, hr administration and workforce regulatory needs. As the employer of record for tax purposes, forms w-2 and w-3 are issued by the peo and filed under the peo's federal ein. In this co-employment arrangement, the organization is the common law employer and, accordingly, compensation is reported on form 990, part vii, section a and part ix, lines 5-10.”