Forward Community Investments Inc.

“The organization updated its bylaws to change the number of individuals who are able to hold the officer positions of chair, vice chair, secretary, and treasurer from 1 at a time to 2 at a time, and to no longer consider partial terms as a "term" for purposes of the limitations on terms in section 2(b).”

“The officers of the governing body--chair, secretary, and treasurer--are responsible for reviewing and approving the form 990. These individuals recommend changes to the prepared draft form 990. Once the recommended changes are made, these individuals review the revised return and, upon their written approval, a copy of the return is shared with the entire governing body and the members of the finance committee. The return is then filed with the irs.”

“Annually all officers and directors complete and sign a conflict of interest statement. The signed statements are kept at the organization's office. Any conflicts identified are reviewed by the governing body and any person with a conflict is prohibited from participating in the governing body's discussions and decisions on the particular transaction.”

“The directors designate the executive committee, which is made up of independent persons, as being responsible for the performance review of the president. As part of the review process, the committee solicits the input of the entire governing body and some key external stakeholders. The executive committee also examines the compensation paid to executives at similarly situated organizations. The compensation review of the president occurs as part of the annual budgeting process. Salary and benefit adjustments are included in the annual budget and discussed and approved by the finance committee and the entire governing body. This process was last undertaken in the first quarter of 2019.”

“The governing documents, conflict of interest policy, and financial statements are available to the public upon request. Forward community investments receives requests for this information from current and potential funders and investors and makes all relevant governance and financial information available to them.”

“Program consulting: program service expenses 261,431. Management and general expenses 0. Fundraising expenses 0. Total expenses 261,431. Organization capacity: program service expenses 11,323. Management and general expenses 42,031. Fundraising expenses 18. Total expenses 53,372.”

“Gain on change in loan loss reserve 112,189.”