One Hope United

“Completed 990 drafts are presented to management for review by the paid tax preparer. Management reviews the 990 drafts both for accuracy and any questions they might have. Management schedules a meeting with the Federation Audit Committee for review of the 990 drafts. Draft reports are sent out to Committee Members approximately one week prior to the meeting. Audit Committee Members meet with the tax preparer and management to review the drafts. Audit Committee Members then either request changes or recommend that the 990s be accepted. Their recommendation is then forwarded to the Board Members. Board Members are presented with copies of the 990 drafts and the opportunity to raise questions and/or request changes. The 990 is filed with the IRS after all Board Members have been given the drafts and the opportunity to ask questions/request changes.”

“The organization requests that written conflict of interest statements are signed by each Board Member and Officer on a yearly basis. It is the Board Member or Officer's responsibility to disclose any new conflict of interest that may arise since the signing of the annual statement. When conflicts of interest may exist, the Board Member is excused from voting.”

“The Board of Directors requests that OHU engage an outside party to do an intermediate sanction study every two to three years for both the CEO and any other officer that may be considered highly compensated. This resulting information is shared with the Board of Directors and any decisions thereof are recorded in the Board Minutes. All compensation changes for the CEO are approved by the Board of Directors. The CEO approves all compensation changes for other officers or key employees of the organization. Written documentation/description of the compensation change as well as substantiation is kept in the employee/officer personnel file.”

“OHU's governing documents, conflict of interest policy and audited financial reports are not normally available for public inspection. These documents are made available for specific organizations as part of the application process for funding or as part of a contractual obligation, such as to a lender (banking relationship), government contract or grant reporting. Unaudited financial information is released to a lender upon request or as part of a contractual obligation. This may be monthly, quarterly, or yearly, depending upon the situation.”

“Professional Consulting Fees: Program service expenses 17,839. Management and general expenses 4,941. Fundraising expenses 42,647. Total expenses 65,427.”