Children First Foundation

“Our governing documents and 990's are available to”

“the public upon request.”

“The executive committee is responsible for the”

“oversight/review of the organization's financial”

“statements and selection of the independent accountant.”

“The 990 draft was emailed to board members with a”

“request that each member respond during a comment”

“period with either an approval or with additions/”

“corrections. Responses were then summarized and any”

“changes forwarded to the tax preparer for inclusion”

“in the final return.”

“The Board of Directors determines salaries and hourly”

“wages based on the United Way of Greater St. Louis”

“Nonprofit Wages and Benefits Survey. The first one”

“of these surveys used was in 2007. The first board”

“meeting in the fiscal year is February, and salaries”

“and wages are decided at that time as is the budget”

“for the year. The Board also reviews the financial”

“state of the agency and compares budget trends for”

“the previous two years.”

“Board members and key employees receive the conflict”

“of interest policy. The policy is reviewed along”

“with the agency by-laws annually in October. The”

“Board monitors and enforces compliance if a conflict”

“exists at any time.”

“Two board members had a business relationship. However,”

“License fees computer costs scholarship fees moving costs”

“the members comply with the organization's conflict”

“of interest policy and, if an issue would arise”

“where there might be a potential conflict, one or”

“both would abstain from voting.”

“The main source of revenue is from two IL counties, the”

“one in which the office is located and an adjoining one.”

“The revenue is relatively consistent with a minimal”

“amount of time involved in applying for and receiving”

“the funds. Consequently, the amount of expenses”

“allocated to fundraising is much lower than for most”

“organizations.”

“Due to the adequate funding from the two counties and”

“other sources, neither board members nor key employees”

“contribute to the organization. If funding becomes”

“inadequate at some point in the future, new guidelines”

“and goals for contributions will be determined for”

“them.”