Second Chances

“The Form 990 is prepared by an independent CPA firm. The Executive Director and the staff accountant review and approve the completed Form 990, after which a copy of the 990 is distributed to the board for their review prior to filing.”

“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. Conflicts of interest are disclosed annually by all board members and officers. The Executive Director monitors compliance with the policy. If a conflict exists, the Executive Director meets with the interested party to discuss and resolve the conflict. If a vote regarding the conflict of interest is scheduled, the interested party is asked to remove themselves from the vote and any discussion pertaining to the vote.”

“Line 15a: 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 person of substantial 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, descendants, siblings, spouses of siblings, and spouses of descendants. 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 the Board compensation 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 regarding 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. Line 15b: No other officers were compensated by the organization. Therefore, the question was answered no in acccordance with the instructions.”

“The organization makes its governing documents, conflict of interest policy, and financial statements available to the public upon request.”