Hephzibah Children'S Association

“The form 990 is reviewed by the audit committee of the board and the finance director of the organization, the members of the audit committee include a minimum of three board members other than those of the finance committee. The review will be done prior to the filing of the return with the irs. The review is a thorough review of each page of the return including supporting schedules by the finance director. Audit committee members will have the opportunity to review and receive answers to any questions they have prior to filing with the irs. The full board of the association receives copies of the return prior to filing with the irs.”

“Any member of the board of directors or key employee who may be involved in an agency business transaction in which there may be a possible conflict of interest shall immediately notify the president of the board (or if she or he is the one with the conflict, then the vice president of the board). Each board member shall review this policy and sign a copy at the beginning of their tenure and then annually at the september board meeting. The president shall provide the board with a report of any conflicts of interest within 10 days of discovery. The president or vice president of the board of directors shall disclose the potential conflict of interest to the other members of the board and such disclosure shall be recorded in the board minutes of the meeting at which disclosure is made. Transactions with parties with whom a conflicting interest exists may be undertaken only if all of the following are observed - the conflicting interest is fully disclosed, - the person with the conflict of interest is excluded from the decision and the approval of such transaction, - a competitive bid or comparable valuation exists, and -the board has determined that the transaction is in the best interest of the organization.”

“The board of directors shall determine the salary and total compensation provided to the executive director on an annual basis and, in doing so, shall consider the recommendation of the evaluation committee and finance committee, designated to act as the compensation committee/ total compensation includes base salary and benefits. The compensation committee and the board shall consider the following in deteriming executive director compensation - comparability of compensation received by executive directors of similar non-profit agencies, reviewed every two years, - performance goals for the executive director set by the board overall and for any particular year, - cost-of-living and any other across the board increases given to agency staff, - the capacity of the agency budget and expected revenues to support a particular compensation level. The compensation committee shall provide its recommendation of executive director compensation to the treasurer in sufficient time for it to be included in the development of the annual budget. It shall also provide its recommendation to the board prior to the meeting at which the annual budget for the fiscal year is approved. Prior to or during the meeting at which the budget for the fiscal year is approved, the board shall make its final determination of the total compensation of the executive director for that particular fiscal year based on all the considerations described in this policy. The executive director shall determine the salary provided to the finance director considering the following - comparability of compensation received by finance directors of similar non-profit agencies, - performance goals for the finance director, - cost-of-living and any other across the board increases given to agency staff, - capacity of the agency budget and expected revenues to support a particular compensation level. Board approval is required for any increase in excess of 15%”

“The organization makes its governing documents, conflict of interest policy, and audited financial statements available to the public upon request, by mail or email, or for inspection at an office of the organization. The disclosure period for the documents is the same given by section 6104(d).”

“Change in value of beneficial interest in trust 14,053. Change in value of beneficial interest in hephzibah children's trust 113,349.”

“The audit committee assumes responsibility for the oversight of the audit and selection of the auditors. This policy has not changed from the previous year.”