Innovation Africa

“The form 990 is prepared by the outside accounting firm and is presented to the executive director of the organization for review. After the executive director has reviewed the form, a paper copy is given to the officers of the board of directors for review. When the board of directors have reviewed and approved the form, it is signed by the president of the board and filed. A copy of the form 990 is presented to the entire board of directors for review and approval prior to filing.”

“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.”

“The organization used a salary survey to determine the recommended salary for an organization based on their range of revenue.”

“The organization makes its form 990 available for public inspection as required under section 6104 of the internal revenue code. The return is posted 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 2,817. Management and general expenses 22,602. Fundraising expenses 1,495. Total expenses 26,914. Design consultants: program service expenses 51,000. Management and general expenses 0. Fundraising expenses 9,000. Total expenses 60,000. Egineering: program service expenses 33,600. Management and general expenses 0. Fundraising expenses 0. Total expenses 33,600. Payroll processing: program service expenses 0. Management and general expenses 8,776. Fundraising expenses 0. Total expenses 8,776.”

“The innovation africa 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.”