Innovation Africa

“The organization's board did not conduct a review of the form 990 prior to filing. A copy of the form 990 was provided to the organization's board after it was filed.”

“The conflict of interest policy is applicable to all board members, officers and employees. An interested person must disclose the existence of any potential or actual conflict of interests to the founder and ceo. If a conflict arises, the founder and ceo and when necessary, board members will determine whether the issue at hand is in efforts in caring for our beneficiaries, serving the community, and succeeding in the social services arena. Annually, all interested persons shall sign a statement of affirmation stating that they have received a copy of the conflict of interest policy, and agree to abide by it.”

“Each staff member is placed in the job classification that accurately reflects his/her responsibilities and is paid within the established pay range for his/her job. Pay rate is initially determined by factors such as required education and experience relative to the job's minimum qualifications and rates paid to other job incumbents in organizations parallel to innovation: africa. Managers/supervisors may also consider an individual's skills and job performance in determining pay. This process was used to establish compensation for the founder, ceo and president. This process was last undertaken for the presidents compensation in 2014.”

“The organization makes its form 990 available for public inspection as required under section 6104 of the internal revenue code by posting it on guidestar.org and other similar types of websites. In addition, the financial statements, conflict of interest policy, articles of incorporation and by-laws are also available upon written request at 520 eigth avenue, 15th floor new york, ny 10018...or by calling the organization directly at 212-710-6427.”

“Consultants: program service expenses 105,005. Management and general expenses 5,402. Fundraising expenses 77,096. Total expenses 187,503. Payroll processing: program service expenses 0. Management and general expenses 891. Fundraising expenses 0. Total expenses 891. Photographer: program service expenses 2,129. Management and general expenses 2,555. Fundraising expenses 3,833. Total expenses 8,517.”

“The innovation africa, inc., finance and audit committee assumes responsibility for the oversight of the audit of its financial statements and selection of its independent auditor. The policy for selection and oversight of the independent auditors has not changed since last year.”

“Innovation africa's 2013 financial statements were presented on the income tax basis of accounting, subsequently, management determined that the organization's financial reporting needs are better met by presenting the financial statements on the accrual basis of accounting. As a result, innovation: africa has restated its 2013 ending net assets at january 1,2014 as follows: unrestricted net assets at december 31 2013: $388,057 unrestricted net assets at january 1, 2014: $401,525 temporarily restricted net asseets at january 1, 2014: $17,000”