The Sophia Way

“The draft of the Form 990 will be reviewed and approved by the Board of Directors prior to filing with the IRS.”

“The Organization's Conflict of Interest Policy covers members of the Board of Directors. Directors complete an annual disclosure statement and have a duty to disclose actual or potential conflicts of interest that arise during the year to the Board of Directors. The Board of Directors shall provide a disinterested review of the matter that is the subject of a conflict of interest. A Director having a conflict of interest should absent him- or herself from any discussion of the matter, should not use his or her personal influence with respect to the matter, and should abstain from casting any vote. To the extent that the remaining members of the Board determine that the Director can provide information that may be useful, the Director having a conflict may provide that information to the Board and answer pertinent questions from the other members of the Board before the Board casts its vote. A Director having a conflict of interest shall not be counted as present for the purpose of determining whether a quorum is established, even if permitted by law. The Director's absence from the discussion and vote of the Board, and the establishment of the quorum without counting that Director, should be documented in the minutes of the Board meeting and made a part of the records of the Organization.”

“The current process for determining the compensation for the Executive Director involves an effort to ensure that the compensation is fair and competitive with Similar sized nonprofits in the Pacific Northwest. To accomplish this, in 2015 a two year effort was undertaken to bring the ED salary up to a level commensurate with the Archbright Wage and Compensation Survey. From 2017 onward, the Board will make a concerted effort to ensure that the Executive Director is fairly compensated as documented in the Archbright annual report. The Board also undertakes an annual review process where both significant strengths and areas for further professional development are outlined for the current Executive Director.”

“The Organization makes its governing documents available to the public on Guidestar.”

“The organization has restated its financial statements as of and for the year ended December 31, 2015. The Organization has corrected for an error in its recognition of in-kind rent contributions and related receivable amounts, which simultaneously impact temporarily restricted net assets. The effect of the restatement is to increase the 2015 change in net assets by $60,945.”