Development Solutions Inc DBA Hope 4 Kids

“Form 990 is prepared by an outside accounting firm. Upon completion, the accounting firm will send the draft for our board to review before mailing final return to the irs.”

“It is the policy of the organization to prohibit its employees or Board members from engaging in any activity, practice or act which conflicts with its interests. All employees have an affirmative obligation to avoid conflicts of interest and it is not acceptable to look the other way when a conflict arises or appears to arise.”

“Our board will review and approve compensations for our officers and key employees. The board determines the compensations by reviewing industry standards and personnel experience level.”

“Our board will review and approve compensations for our officers and key employees. The board determines the compensations by reviewing industry standards and personnel experience level.”

“The federal form 990 is available online via guidestar.org the public can also call us and make open inquiries”

“NOTES RELATING TO ACCOUNTS RECEIVABLE WRITE-OFF OF $955,250 INLCUDED IN THE PROGRAM SERVICE EXPENSES:In 2020 California Assembly Bill (AB) 1301, 'an act to amend, repeal, and add Section 16122 of the Welfare and Institutions Code, relating to child welfare service', became effective. Besides changing the per-adoption reimbursement rate, AB 1301 of 2019 realigned the management and distribution of PAARP funds from the California Department of Social Services back to individual county child welfare agencies throughout the state (the 'CountiesX and 'State', respectively). Effectively in 2022, the Counties rejected some of the Organization's PAARP reimbursement billing citing that under Welfare and Institutions Code section 16122 (WIC 16122) 'the licensed adoption agency is not eligible for PAARP if it accepted payment from prospective adoptive parents of a child for any services including, but not limited to, completing the application process, family finding, and matching services, completing forms and court reports, completing the home study, and completing post-placement visits'.Prior to the implementation of AB 1301, such PAARP billings had been allowed and a major funding source of the Organization, making up more than 50% of the Organization's total revenue prior to 2020. Losing the eligibility of such funding source had significantly decreased the Organization's revenue and caused negative changes in net assets since 2020.While seeking further clarifications and potential roll-back of such provision from the State and the Counties together with other adoption agencies who had been similarly affected, in 2022 the Organization wrote off the net account receivable in the amount of $955,250 related to 182 adoption cases that would be under the scrutiny of WIC 16122.”