Price Charities

“Robert price and allison price, husband and wife.”

“Management services contracted to the price group, llc.”

“The form 990 information was compiled from the organization's accounting records and provided to the organization's preparer. The completed form 990 was reviewed by the organization's cfo. Upon satisfactory completion of the review process, a draft of the form 990 was circulated to the organization's governing body's audit committee for review. The form 990 was then filed with the internal revenue service.”

“The organization's board of directors regularly discusses the importance of maintaining the public's trust and clearly communicates this message to all employees. The organization has established a process for all board members and officers to fully disclose potential conflicts of interest, including the annual completion of a conflict of interest form by the board members.”

“The organization did not pay any compensation to any of the organization's officers (see description in part vii section a).”

“The organization makes its governing documents, conflict of interest policy, and financial statements available to the public upon the request of such documents.”

“The organization pays a management fee to the price group, llc ("tpg") for corporate management services and oversight based on individuals' allocated time devoted to work performed on behalf of the organization. This work includes management supervisory oversight and back office support services. Although three officers of the organization received their total compensation through tpg, (1) none of the president's compensation; (2) only $152,600 of the executive vice president/secretary's total compensation (including benefits); and (3) only $147,400 of the cfo's total compensation (including benefits) was included in the calculation for the organization's 2014 management fee. The president and executive vice president/secretary are also members of tpg. The president, executive vice president/secretary and cfo of the organization spend the remainder of their working time (i.e. Hours listed for related organizations in part vii) working for price philanthropies foundation, the price group, llc, and other related entities of tpg. Although executives average more than 40 hours work during a week, the reported average hours per week listed in column b of form 990, part vii, section a is based on a 40 hour work week. The president, robert price, also worked an average of approximately 10 hours at price philanthropies foundation, 10 hours at the price group, llc, and 10 hours at other related entities. The executive vice president/secretary, sherry bahrambeygui, also worked an average of approximately 14 hours at price philanthropies foundation, 4 hours at the price group, llc, and 12 hours at other related entities. The cfo, jeff fisher, also worked an average of approximately 14 hours at price philanthropies foundation, 1 hour at the price group, llc, and 12 hours at other related entities.”

“The organization did not change it's audit oversight process of selection process during the tax year.”

“Although the total number of employees reported on form w-3 was 24, that number includes 15 employees and 9 pitch loan recipients required to receive w-2's as a result of receiving rent credits or interest credits for volunteering in city heights as part of the organization's charitable mission.”