Village of Progress Inc

“The 990 will be completed in conjunction with our annual audit. With input from our accountant and executive director, our finance/audit committee will review and approve the forms, report the findings to our board of directors.”

“Each director, principal officer and member of a committee with governing board delegated powers shall annually sign a statement which affirms such person: has received a copy of the conflicts of interest policy, has read and understands the policy, has agreed to comply with the policy, and understands the organization is charitable and in order to maintain its federal tax exemption it must engage primarily in activities which accomplish one or more of its tax-exempt purposes. At any time, if any actual or possible conflict of interest should arise, the interested person must disclose the existence of the financial interest and be given the opportunity to disclose all material facts to the board of directors. The board will then vote on the appropriate actions on a case-by-case basis.”

“The salary committee independently establishes the compensation package for the executive director. The salary committee meeting minutes are then shared with and voted on by the board of directors absent of the executive director. Besides an annual performance review, the village conducts an annual salary/fringe benefit survey, inviting the responses of 11 similar agencies for the nine-county area. The surveys are summarized and reviewed in detail along with the annual performance review, by the salary committee before deciding on the executive director's compensation package. Board members are also supplied with the information before approving the package.”

“The village of progress makes the three most recent annual information returns of the from 990, the 501(c)3 corporation status and all accompanying schedules and attachments, the bylaws, conflicts of interest and financial statements available to the public upon request during normal business hours.”

“The organization uses a systematic process for selection of independent auditors for the audit of the annual financial statements. This process has not changed from the prior year.”