Center of Creative Arts

“The form 990 is prepared by an independent accounting firm. A draft of the form 990 is then presented to the finance committee for their review, and then distributed to all board members prior to filing.”

“Coca requires all board members, finance committee members, endowment committee members, and key employees to sign a code of conduct statement on an annual basis. It is the responsibility of the executive assistant to maintain the original copies and to request and compile the annual updates. If a conflict of interest is denoted on the form or arises at any point in the year, the staff must inform the board president and he/she is required to disclose such conflict to the executive committee. The executive committee will review and assess whether the conflict justifies action, including seeking legal counsel when deemed necessary.”

“Prior to the beginning of each fiscal year, the executive director submits her goals for the organization and personal development to the president of the board of directors for initial discussion and to the executive committee of the board for review and feedback. At the end of the fiscal year, the executive director provides a self-assessment of her personal and organizational performance toward those goals to the board president. The board president calls for a special session with the executive committee to review based on performance and periodic assessment of the executive director's compensation (salary, bonus, and benefits) as compared to similarly successful leaders of comparable non-profits. The board president then recommends a vote for the approval of the compensation package by the executive committee. Compensation adjustments and bonuses shall be communicated to the head of finance via the treasurer of the board of directors for implementation as soon as practicable, but not later than the first pay period following the end of the fiscal year. This performance planning, review, reward, and development process shall repeat annually to coincide with each fiscal year. The salaries of other officers and key employees are determined by the head of human resources using local salary studies to ensure salaries are competitive relative to the size of the institution, tenure of the employee, etc. These salaries are then approved by the executive director.”

“The corporation shall make such records as are required under the act or any other applicable law available for inspection and copying to those persons and to the extent required under the act or any other applicable law. Such inspection and copying shall be accomplished at a reasonable time and location specified by the corporation. The corporation may impose a reasonable charge, covering the costs of labor and material, for copies of any documents provided.”

“Uncollectible pledges -101,773.”

“No change from prior year.”