Svdp Management Inc

“A draft of the form 990 is reviewed by the audit committee prior to filing. The committee may recommend corrections or changes, after which a final version of the form is circulated to all board members prior to filing.”

“Conflict of interest enforcement - any board member who has the potential for any tangential conflict is excluded from votes that are related to the conflict. Under certain circumstances, the board member may be asked to leave the room during any discussion and would be excluded from the distribution of any materials related to the issue. Additionally, while it is just a small part of any potential conflict, board member rosters that are distributed to all board members and to key staff members include the employment affiliation of each board member to help identify instances where the potential for conflict may be present. Board members complete and sign a conflict of interest statement annually.”

“The organization has an annual review process for each individual and any salary action is based upon that evaluation. The human resources department collects information to determine the salary ranges of similar positions at comparable organizations and provides that research when salary deliberations are being made. The compensation committee of the board works with the director of human resources to review and make recommendations regarding the compensation of the leadership team.”

“The organization's audited financial statements and form 990 are posted annually to its website. Articles of incorporation, by-laws, and conflict of interest policy are available to the general public upon receipt of a written request.”

“The officers reported in part vii work at least 40 hours per week with the exception of the general counsel who works 32 hours per week. Their time is allocated between s.v.d.p. Management and the unrelated organization st. Vincent de paul village with whom the organization has an administrative services agreement. In 2017, the officers spent 50% of their time at s.v.d.p. Management and 50% of their time providing management services to st. Vincent de paul village. The compensation reported in part vii is their total compensation. A portion of their compensation is reimbursed by st. Vincent de paul village through the administrative services agreement.”

“Change in value of charitable remainder trust 27,141.”

“As a result of an outside agency confirming their note receivable, it came to management's attention that a $460,000 forgivable note issued in 1998 had not been properly recorded to the general ledger. Corrective and preventive actions were immediately taken upon notification of this outstanding forgivable debt. Management completed a title search on potentially effected properties to ensure there is no additional debt outstanding that is not recorded. In addition, management has a process in place to ensure that debt is properly recorded to the general ledger in accordance with generally accepted accounting principles. Management has restated its results for the prior year, 2016. The effect of the 2016 restatement was to decrease beginning net assets by $703,800, decrease ending net assets by $717,600, which accounted for the $460,000 note payable and associated $257,600 of accrued interest since 1998. The 2016 restatement also increased interest expense by $13,800.”