Second Chances

“The Board of Directors will meet with the Executive Director and the staff accountant to review and approve of completed form 990 and all related documentation before form 990 is mailed off.”

“Employees shall avoid outside employment, activities, investments, and other interests that involve obligations that may compete with or be in conflict with the interests of the company. A conflict of interest can arise in dealings with anyone that Second Chances transacts business; i.e. clients, customers, owners, buyers, suppliers, banks, insurance companies, and people in other organizations with whom we contact and make agreements.”

“Form 990, Part VI, Section B, Line 15 - Compensation process for top official - Approving compensation A. The compensation of all disqualified persons (defined below) for each year, or the terms of compensation for a multi-year contract will be established by the Board in advance. If any Board members are employees of the organization or related to disqualified persons receiving compensation, they may provide input to the board, but will leave the room and not participate in the discussion or decision making by the Board. The minutes will reflect that they were not in the room during the discussion and vote. B. Disqualified persons - includes Board members, Executive Director, CEO,CFO, COO, Controller and any persosubstantial influence over the affairs of the organization; any person who has held any of the previously listed positions within the past five years; any family member of a person previously listed positions including spouse, ancestors, descendents, siblings, spouses of siblings, and spouses of descendents. C. In considering compensation, all elements will be provided to the Board, including, but not limited to, the value of all employee benefits whether taxable or not, housing allowance or value of provided housing, the value of vehicles to the employee or the family of the employee and retirement plan contributions. D. The Board President of a Board compensatiom committee will meet with the Executive Director in advance of Board compensation discussion to consider with the Executive Director his or her projected needs for the coming year, perspective on his or her compensation, and the types of benefits or prerequisites that might help the ED input on how the organization's compensation philosophy may apply to him or her will be requested. E. Prior to a final vote on the compensation, the Board will collect information reguarding amounts paid by comparable organizations for comparable services and consider how the proposed compensation compares to the comparison information. If the amount proposed as compensation seems high based on the comparison information, the Board will consider collecting additional information or obtain a professional compensation opinion.”

“Form 990, Part VI, Section C, Line 19 - The organization makes it governing documents, conflict of interest policy, and financial statements available to the public upon request.”

“Explanation of Responsibility The organization's board as a whole is responsible for oversite of the review process and selection of accounting firm used. This process has not changed.”