George J & Hilda Meyer Foundation Inc

“On september 1, 2017, the foundation entered into an accounting agreement with lcs. Under the terms of the agreement, lcs will provide accounting, payroll, accounts payable and billing services outlined within the agreement until a termination date that coincides with the management agreement. Fees for lcs accounting services are payable monthly beginning september 1, 2017 at $4,167 per month. The management agreement and accounting agreement were terminated effective june 30, 2023. Amounts payable to lcs at august 31, 2024 are $916,559. On july 1, 2023, the foundation entered into an accounting agreement with fmi. Under the terms of the agreement, fmi will provide accounting, payroll, accounts payable, and billing services outlined within the agreement. Either party may terminate the agreement, without cause at any time by giving the other party at least 30 days written notice of its desire to terminate and using a scheduled severance agreement. Fees for fmis accounting services are payable monthly beginning july 1, 2023 at $1,800 per month through december 2023 then increasing to $2,500 per month plus postage and time clock rental fee.”

“The executive director and accounting director review form 990 and then a complete copy is provided to all board members before it is filed.”

“Officers and directors are required to annually disclose conflicts of interest to the foundation.”

“The foundation uses comparability data and the employees annual review information to determine compensation. The board of directors has final approval of any compensation.”

“Documents are made available to the public upon request.”

“Outside servies: program service expenses 648,927. Management and general expenses 123,605. Fundraising expenses 0. Total expenses 772,532. Therapy services: program service expenses 62,298. Management and general expenses 11,866. Fundraising expenses 0. Total expenses 74,164. Consulting: program service expenses 98,677. Management and general expenses 18,796. Fundraising expenses 0. Total expenses 117,473.”

“Processes have not changed from the prior year.”