501CPA

“Form 990 is prepared by our ceo (a cpa) and submitted in draft to the board of directors 7 days prior to the next board meeting. The board reviews and comments on 990 at board meeting and, if no changes required, the board votes to approve. If changes required, a revised 990 is submitted to the board electronically and a final board approval vote is solicited at that time. Following board approval, the form 990 is signed by the board chair and e-filed to the irs. A signed copy of the 990 is retained electronically in the organization's permanent tax file.”

“501(c)pa has a conflict of interest policy, which includes having all new board and committee members sign an acknowledgement they have read and understand the policy. All board and committee members are required annually, and in writing, to disclose all businesses or other organizations of which the member or leader, or a member of his family, is an officer, member, owner, or employee; or for which the member or leader, or a member of his family, acts as an agent; or from which the member or leader, or a member of his family, receives compensation or remuneration of any sort, with which 501(c)pa competes or with which 501(c)pa has, or might reasonably in the future enter into, a relationship or a transaction. 501(c)pa also has a policy directing the board chair and other board members on how to disclose a potential conflict of interest when issues are discussed or voted on, which includes disclosure and the party removing themselves from the meeting during discussion and vote. The policy directs the board or committee to seek alternatives to the proposed transaction so as not to produce a conflict of interest unless a more advantageous transaction or arrangement is not reasonably possible.”

“Review of ceo's compensation is conducted by the board of directors annually. The board does a periodic comparative survey of salaries of organizations similar in size and nature. The review and comparative study is documented.”

“Ceo and board chair conduct periodic reviews to determine if: 1) compensation arrangements and benefits are reasonable based on competent survey information and 2) conform to 501(c)pa's written policies, are properly recorded, reflect reasonable investment or payments for goods and services, further charitable purpose and do not result in impermissible private benefit or in an excess benefit transaction. These reviews typically occur annually or as new staff are hired.”

“Governing documents, policies, financial statements and the irs form 990 are made available to the public upon request within three working days of the date the request was made. Financial statements and form 990 are also available on the new mexico attorney general and irs websites.”

“One of our volunteers provided hr consulting to multiple clients. A second volunteer provided cfo services to one of our clients.”

“501(c)pa provided accounting, payroll, budgeting, grant reporting, audit assistance, cfo and human resources consulting services to over 35 nonprofit organizations during this fiscal year. The organization also collaborated with the thornburg and anchorum foundations to assist their grantees during the covid-19 pandemic with accessing and managing federal and state funding support programs, ad hoc cfo consulting services, and three online training presentations related to the paycheck protection and economic injury disaster loan programs. Altogether, 501(c)pa assisted more than 20 new mexico nonprofits in obtaining over 3.5 million in federal and state forgivable loans and working capital loans. 501(c)pa, working with the apex group, also developed and implemented a program evaluation system. Over time, as the system matures and more data is gathered on client performance metrics, we will be able to assess the impact our services have on client financial wellbeing and social productivity. Over 30% of our clients are in the early childhood education and tribal services sectors. Other areas served include: adult education, health and welfare, arts and culture, youth leadership development, journalism, sustainable agriculture and the environment. By taking care of their strategic financial management and compliance duties, 501(c)pa provides nonprofits with better decision-support information, reduced employee stress, and more time to focus on their missions. Increased social productivity means more services delivered to communities, and increased economic benefits for those communities and for new mexico.”