Hvaf of Indiana Inc

“The form 990 is reviewed by the audit and executive committee and were made available to all board members for their individual review before filing the return. Review of the audit and form 990 are also a board agenda item.”

“Officers, directors and key employees are required to approve the policy on conflicts of interest annually. At this time, they are asked to reveal actual or potential conflicts of interest. If, during the year, issues arise that call into question a possible conflict of interest, the member is asked to abstain of excuse themselves from the deliberations and the decision making process for that item of business.”

“Compensation for top management and the ceo is determined by compensation review of equal or similar positions in the immediate and general area. The compensation study is reviewed by the exectuive committee and then forwarded to the board of directors who make a recommendation. In the case of the ceo, the board of directors decides the actual compensation.”

“The organization's governing and financial documents and policies are made available to the public through the organization's website. Various other documents, including: united way documents, annual filings with the department of veteran affairs, us department of housing and urban development and the state of indiana, the organization's annual filings and other public venues are provided upon request.”

“During the year ended december 31, 2024, the organization sustained fire damage to one of its buildings. The organization recognized insurance proceeds in the amount of $7,079,150 during the year ended december 31, 2024, of which $2,500,000 was received and $4,579,150 was included in insurance proceeds receivable at december 31, 2024. Due to the extent of the damage incurred, the portion of the building damaged by the fire has been disposed of and the replacement costs will be capitalized upon completion. The net book value of the damaged property and equipment was $1,638,138 which resulted in a gain recognized on disposition in the amount of $5,441,012. Total replacement costs incurred as of december 31, 2024 amounted to $475,000 and are included as construction in progress on the 2024 balance sheet. The first phase of the rebuild is expected to be completed in 2025 and the second phase is expected to be completed in 2026.”