Illinois Policy Institute

“Prior to submission to the irs, form 990 is provided to the principal officer and governing body of the organization for review.”

“The organization reviews the conflict of interest policy once a year with the board of directors and employees and inquires of any material changes.”

“Compensation of the president is determined by an examination of comparable data for other ceo's in the industry countrywide and in the chicagoland area. The information from that research is shared with the board of directors who then approve compensation for the president. Note that an independent consultant is not utilized. The entire process is documented.”

“All governing documents, policies, and audited financial statements will be available upon written request.”

“The organization's personnel are paid by bearing tree, inc., a professional employer organization which is wholly owned by a related not-for-profit organization. All w-2s are issued by bearing tree, inc.”

“Consulting - expense reimbursement: program service expenses 886. Management and general expenses 3,225. Fundraising expenses 372. Total expenses 4,483. Consulting - general: program service expenses 98,872. Management and general expenses 78,148. Fundraising expenses 229,880. Total expenses 406,900. Consulting - vetting: program service expenses 7,500. Management and general expenses 0. Fundraising expenses 0. Total expenses 7,500. Consulting - marketing: program service expenses 963,190. Management and general expenses 0. Fundraising expenses 0. Total expenses 963,190. Recruiting: program service expenses 0. Management and general expenses 14,000. Fundraising expenses 0. Total expenses 14,000. Payroll processing: program service expenses 0. Management and general expenses 73,903. Fundraising expenses 0. Total expenses 73,903.”

“The organization's audit committee is responsible for the selection of an independent audit firm. The audit committee reviews bids from at least 3 seperate qualified firms and makes a selection based on qualifications. This process is repeated as needed or minimally every 3 years. A draft of the audit report and financial statements is submitted to the audit committee for review and a discussion with the audit firm is held. The audit committee makes a recommendtion to the full board of directors for acceptance of the draft audited financial statements and the board of directors takes a vote to accept or not accept the aduited financial statements.”