New Moms Inc.

“The Executive Committee is made up of the Chairperson, Vice Chair, Secretary, Treasurer, and President/CEO. The Bylaws provide for the Executive Committee to exercise the full authority of the board between regular board meetings. Any actions taken are included in a report provided to the entire board at the next board meeting.”

“The Form 990 is prepared by an independent CPA firm. A copy of Form 990 is reviewed in detail by the President/CEO and members of the Finance Committee prior to signature and submission. A full copy of the Form 990 is provided to every voting member of the governing body before it is filed with the IRS.”

“Conflict of interest declarations are signed annually by the Board of Directors. The President/CEO reviews the signed declarations of the Board of Directors and the Chairperson reviews the President/CEO's declaration. If a conflict exists, it is reported to the Executive Committee and they address it with the interested director. The applicable director(s) are not permitted a vote with respect to the conflict.”

“A performance review is conducted annually for the President/CEO, who is the only compensated officer of the organization. The review is performed by the Executive Committee and includes the use of comparative data for similar executives serving similar organizations. The Committee sets performance goals and recommends salary adjustments during the review process. The independent board votes to approve the President/CEO's compensation after recommendation by the Executive Committee. The process is documented in the Committee minutes. Form 990, Part VI, Section B, Line 15b: The organization does not compensate any other officers or key employees. Therefore, this line was answered "no" in accordance with the instructions.”

“The organization's governing documents, conflict of interest policy, and financial statements are available to the general public upon request.”

“In accordance with the principles of FASB ASU 2016-14 (ASC 958), the organization has implemented required changes to its audited financial statements for the period ended 6/30/2019. The 2018 Form 990 and its associated schedules have not been updated to reflect changes made by this standard. Thus, we have reported the revised net asset categories from the audited financial statements as follows on Form 990, Part X, Lines 27-29: Line 27 - Net assets without donor restrictions $4,576,709 Line 29 - Net assets with donor restrictions $1,421,445 Total net assets $5,998,154”

“The organization's Board assumes responsibility for oversight of the audit of its financial statements and selection of its independent accountant. This process has not changed since the prior year.”