St Louis Artworks

“The 990 draft was emailed to all board members for review during a comment period. Each member was requested to respond during that period with either an approval or with additions/corrections. Responses were then summarized and forwarded to the tax preparer for inclusion in the final return.”

“The governing documents, 990s, conflict of interest policy, and financial statements are available upon request at the organizations office. The 990s are available on the Candid (formerly Guidestar) website.”

“Board members are required to sign annually an affirmation that they have read the conflict of interest policy and will abide by its guidelines. It is included in the orientation meeting for new members. Board members are proscribed from suggesting self-dealing contracts or suggesting contracts from which family members, associates, etc. would profit.”

“A board member reviewed the salaries of executive directors at comparably-sized, programmatically similar not-for-profits in St. Louis and of different types of programs as well. Compensation of executive directors of similar organizations in other cities was reviewed and taken into account also.”

“For staff other than the executive director, compensation was based on similar positions in metro area not-for-profits.”

“Pt.XII, line 2a - On a quarterly basis an outside CPA reviews the accounting transactions, makes entries as needed in the accounting software, determines that the account balances are correct at the previous month-end,and provides preparation (SSARS 21) financial statements, and acts as a consultant on other business matters from time to time.”

“The finance/executive committee is responsible for the oversight of the outside CPAs work and the selection.”

“Line 6 - In 2024 there were several individuals/groups that rented ArtWorks space for events and office space. Using a combination of hours and space used compared to the totals, the % of the rental was less than 1%. Since the majority of the space(99%)is related to the organizations exempt purpose and is more than 85% threshhold, the space is considered substantially all related to the exempt purpose. Therefore the net rental income is not Unrelated Business Taxable Income subject to 990-T reporting.”