True Colors United Inc

“The board of true colors was made aware of possible theft and/or incompetence by a senior member of the finance staff in december 2023/january 2024. The person was immediately terminated from true colors and an investigation was initiated. The investigation is ongoing.”

“The 990 form was filled out by an outside accountant and reviewed by true colors united's ceo, vice president & treasurer, and coo. In addition, true colors united's executive committee and full board of directors were given the opportunity to review the 990 before being submitted to the internal revenue service.”

“Each december at the winter board of directors meeting, the conflict of interest policy is reviewed and each member fills out a disclosure statement.”

“The board of directors bases the executive director & ceo's salary on annual performance evaluation and comparison reports for nyc and dc based non-profit organizations with similar size budgets. True colors united has a transparent salary range structure that takes into account salary ranges for similar positions at nyc and dc based non-profits organizations with comparable size budgets. Increases in salary are based on annual performance evaluations”

“The organization makes its governing documents and financial statements available to the public upon request.”

“Other professional fees: program service expenses 955,581. Management and general expenses 15,653. Fundraising expenses 1,050. Total expenses 972,284.”

“Please be advised the audit of the books and records of true colors united ("tcn") has not been completed. Therefore, changes to the books and records may be required, and if so the enclosed tax return may need to be amended. We are submitting this return based on information provided by tcn at the instruction of an officer of tcn.”