Civic Intelligence

Elevations-A Childrens Therapy Resource Foundation

990 • Fiscal year 2018 • EIN 45-4130330

Jan 01, 2018 to Dec 31, 2018 • Filed on Nov 14, 2019

325 S University Rd Suite 203Spokane Valley, WA 99206

(509) 385-2116

Siviq Scores

Precomputed percentiles for this filing year versus similar nonprofits in the same peer cohort.

Liabilities / Assets

89th percentile

0.46x

Higher debt load relative to assets than 89% of similar nonprofits.

2018 filings • 501(c)3 • <$500k nonprofits • Source year 2018

Liabilities / Revenue

90th percentile

0.29x

Higher debt load relative to revenue than 90% of similar nonprofits.

2018 filings • 501(c)3 • <$500k nonprofits • Source year 2018

Net Margin

67th percentile

12%

Higher net margin than 67% of similar nonprofits.

2018 filings • 501(c)3 • <$500k nonprofits • Source year 2018

Top Officer Pay

95th percentile

$61,728

Higher top officer pay than 95% of similar nonprofits.

Top officer pay equals 32.2% of source-year revenue.

2018 filings • 501(c)3 • <$500k nonprofits • Source year 2018

Asset Growth

85th percentile

52%

Faster asset growth than 85% of similar nonprofits.

2018 filings • 501(c)3 • <$500k nonprofits • Annualized from 2017 to 2018

Revenue Growth

85th percentile

47%

Faster revenue growth than 85% of similar nonprofits.

2018 filings • 501(c)3 • <$500k nonprofits • Annualized from 2017 to 2018

Assets

Up

$119,586

Up $40,767 (+52%) from 2017

Net Assets

Up

$64,016

Up $24,301 (+61%) from 2017

Liabilities

Up

$55,570

Up $16,466 (+42%) from 2017

Revenue

Up

$191,549

Up $61,174 (+47%) from 2017

Expenses

Up

$168,100

Up $51,932 (+45%) from 2017

Net Income

Up

$23,449

Up $9,242 (+65%) from 2017

Historical Trend

Balance Sheet Trend

The highlighted filing sits inside the broader history for assets, liabilities, and net assets.

$300K$200K$100K$0Assets 2012: $2,478Net Assets 2012: $2,4782012Assets 2013: $16,295Net Assets 2013: $16,2952013Assets 2014: $17,158Net Assets 2014: $17,1582014Assets 2015: $16,669Net Assets 2015: $16,6692015Assets 2016: $44,665Liabilities 2016: $19,675Net Assets 2016: $24,9902016Assets 2017: $78,819Liabilities 2017: $39,104Net Assets 2017: $39,7152017Assets 2018: $119,586Liabilities 2018: $55,570Net Assets 2018: $64,0162018Assets 2019: $126,392Liabilities 2019: $65,224Net Assets 2019: $61,1682019Assets 2020: $165,222Liabilities 2020: $72,572Net Assets 2020: $92,6502020Assets 2021: $182,921Liabilities 2021: $88,632Net Assets 2021: $94,2892021Assets 2022: $278,284Liabilities 2022: $100,400Net Assets 2022: $177,8842022Assets 2023: $165,203Liabilities 2023: $118,629Net Assets 2023: $46,5742023Assets 2024: $176,668Liabilities 2024: $70,347Net Assets 2024: $106,3212024

Highlighted filing

2018

Assets$119,586
Liabilities$55,570
Net Assets$64,016

Operations Trend

Revenue, expenses, and net income across loaded years, with this filing highlighted.

$600K$400K$200K$0-$200KRevenue 2012: $8,550Expenses 2012: $6,072Net Income 2012: $2,4782012Revenue 2013: $20,140Expenses 2013: $6,323Net Income 2013: $13,8172013Revenue 2014: $19,883Expenses 2014: $19,020Net Income 2014: $8632014Revenue 2015: $28,203Expenses 2015: $28,692Net Income 2015: -$4892015Revenue 2016: $65,077Expenses 2016: $56,756Net Income 2016: $8,3212016Revenue 2017: $130,375Expenses 2017: $116,168Net Income 2017: $14,2072017Revenue 2018: $191,549Expenses 2018: $168,100Net Income 2018: $23,4492018Revenue 2019: $192,619Expenses 2019: $195,467Net Income 2019: -$2,8482019Revenue 2020: $192,272Expenses 2020: $160,790Net Income 2020: $31,4822020Revenue 2021: $207,689Expenses 2021: $206,050Net Income 2021: $1,6392021Revenue 2022: $311,527Expenses 2022: $227,932Net Income 2022: $83,5952022Revenue 2023: $254,339Expenses 2023: $385,649Net Income 2023: -$131,3102023Revenue 2024: $413,329Expenses 2024: $353,582Net Income 2024: $59,7472024

Highlighted filing

2018

Revenue$191,549
Expenses$168,100
Net Income$23,449
Jump To
Filing Snapshot
Filing Period
Jan 1, 2018 to Dec 31, 2018
Signed
Nov 14, 2019
Return Version
2018v3.1
Gross Receipts
$216,756
Mission and Program Overview

Mission

Helping children with special needs reach their full potential by providing access to the resources and support they need to improve their overall quality of life.

Balance Sheet Detail
LineBeginningEndChange
Assets
Cash and Non-Interest-Bearing Accounts$77,620$115,867▲ $38,247
Pledges and Grants Receivable-$3,000-
Land, Buildings, and Equipment, Net$1,199$719▼ $480
Total Assets$78,819$119,586▲ $40,767
Liabilities
Other Liabilities$39,104$49,270▲ $10,166
Accounts Payable and Accrued Expenses-$6,300-
Total Liabilities$39,104$55,570▲ $16,466
Net Assets / Fund Balance
Unrestricted Net Assets$39,715$64,016▲ $24,301
Total Net Assets Fund Balance$39,715$64,016▲ $24,301
Total Liabilities and Net Assets / Fund Balance$78,819$119,586▲ $40,767

Asset Categories

AssetBook ValueDepreciationBasis
Equipment$719$1,093$1,812
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseOtherTotal
Mary Anne RuddisExecutive DiFT$52,500$9,228$61,728

Board Members and Trustees

NameTitle
Kelly LynchPresident
Brad MesserschmidtDirector
Chanda NeuDirector
Grace ThompsonDirector
Jeff ThompsonDirector
Lora NortonDirector
Maile HohsenianDirector
Molly EversonDirector
Julie HannanSecretary
David OwanTreasurer
Brian PriceVice Preside
Revenue and Support

Revenue Composition

Contributions and Grants
$145,570
Program Service Revenue
$0
Investment Income
$0
Other Revenue
$45,979
All Other Contributions
$98,441
Change in Net Assets
$23,449

Audited Revenue Reconciliation

Revenue per Audited Statements
$191,549
Revenue Not Reported on Form 990
$3,600
Total Revenue per Audited Statements
$195,149
Total Revenue per Form 990
$191,549
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Grants and Similar Amounts Paid$77,453
Salaries, Compensation, and Employee Benefits$66,605
Other Expenses$24,042
Total Fundraising Expense$8,757
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Grants to Domestic Individuals$77,453--$77,453
Other Salaries and Wages$44,625$5,250$2,625$52,500
Other Employee Benefits$7,844$923$461$9,228
Fees for Services Other$3,250$1,857-$5,107
Payroll Taxes$4,145$488$244$4,877
Information Technology$3,650$203$203$4,056
Advertising$1,682-$1,681$3,363
Office Expenses$1,976$110$110$2,196
Insurance$649$1,280$76$2,005
Other Expenses$816$10$843$843
Depreciation Depletion-$480-$480
All Other Expenses$90$126$160$376
Total Functional Expenses$148,581$10,762$8,757$168,100

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Audited Statements$171,700
Expenses per Audited Statements$168,100
Total Expenses per Form 990$168,100
Expenses Not Reported on Form 990$3,600
Fundraising, Events, and Gaming
Fundraising activities
Yes
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Gross Income$71,186
Fundraising Direct Expenses$25,207
Professional Fundraising Fees$0

Fundraising Events

EventGross ReceiptsGross RevenueDirect ExpensesNet Income
Ghost Ball$100,879$62,786$2,717$60,069
Stache Dash$17,436$8,400$5,510$2,890
Total Events$118,315$71,186$25,207$45,979
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Insider Transactions and Loans

Interested-Person Transactions

Interested PartyRelationshipDescriptionShared RevenueAmount
-Board MemberTherapy PaymentsNo$17,098
-Board MemberTherapy PaymentsNo$16,313
-Board MemberTherapy PaymentsNo$7,380
-LeasorIn Kind Office RentNo$3,600
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Grant Awards Payable$47,426
Payroll Tax Liabilities$1,844
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
Yes
Business relationship with family members
Yes
Business relationship with organization members
Yes
Material changes to governing documents
No
Compensation from other sources disclosed
No
CEO compensation reviewed
No
Other officer compensation reviewed
No
Conflict-of-interest policy
Yes
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Page 6, Part VI, Line 2

Grace thompson jeff thompson director director married

Form 990, Page 6, Part VI, Line 11B

Prior to filing, the treasurer shall distribute the final draft of the form, inclduing significant schedules, to all board members for review and comment. Comments or changes suggested by such board members shall be forwarded to the treasurer within five (5) day of receipt of the form. The preparer shall revise the form if necessary and therafter submit it to the internal revenue service for filing.

Form 990, Page 6, Part VI, Line 12C

If the governing board or committee has reasonable cause to belive an affected person has failed to disclose actual or possible conflicts of interest, it shall inform the individual of the basis for such belief and afford the individual and opportunity to explain the alledged failure to disclose. If, after hearing the individual's response and after making further investigation as warranted by the circumstances, the govering board or committee determines the individual has failed to disclose an actual or possible conflict of interest, it shall take apppropriate disciplinary and corrective actions.

Form 990, Page 6, Part VI, Line 19

Documents are available for review upon request.

Filing and Contact Details

Filer

Filer Name
ELEVATIONS - A CHILDREN'S THERAPY
EIN
45-4130330
Address
325 S UNIVERSITY RD SUITE 203, SPOKANE VALLEY, WA 99206

Signing Officer

Name
David Owan
Title
Treasurer
Phone
5093852116
Signed
2019-11-14
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Kelly Lynch
Formed
2012
Legal Domicile
Wa
Voting Board Members
11
Independent Board Members
11
Employees
1
Volunteers
25

Preparer

Firm
Lori a Pierson CPA
Address
PO BOX 6466, SPOKANE, WA 99217-0908
Preparer
Lori a Pierson
Phone
5094650762
Supplemental Narrative

Additional Explanations

Form 990, Page 1, Part I, Line 6

Volunteers are a vital resource for the organization, providing a variety of services that cannot be reasonably valued. The volunteers assist with promoting and operating fundraising events and other program activities.

Form 990, Page 2, Part III, Line 4A

Helping children with special needs reach their full potential by providing access to the resources and support they need to improve their overall quality of life. Since inception, elevations has awarded 334 grants totaling over 210,000 for children with special needs to access therapy services and home therapy equipment in the spokane area. Whether the child's grant is for copays towards occupational therapy, funding for speech therapy services, physical therapy deductibles, specialized home equipment, or other therapy services not covered by insurance that enhance the quality of life for these children, the trajectory of a child's life is positively affected. Helping to cover out-of-pocket medical expenses for families struggling with the financial demands of caring for a child with special needs allows all children the opportunity to reach their full potential regardless of their parents' socioeconomic status. Elevations partners with local pediatric therapy providers to stretch every dollar to help as many children as possible. The organization was founded by and relies on the time and commitment of a core group of 25 volunteers as well as many others who give of their time at events. Many of our dedicated volunteers know first-hand the challenges families face - whether through personal experiences as parents of children with special needs, dedicated therapists and providers, or caring community members who understand that we all benefit when children in our community are given the resources and support they need.

Form 990, Part XI, Line 9

Audit adjustments for prior year, net 852

Form 990, Page 12, Part XII, Line 2C

Fiscal year 2018 is the first year of an audited financial statement. Therefore, some balance for the beginning of the year 2018 have been adjusted. Management and a member of the board has reviewed the drafts before filing.

Financial Statement Notes

Schedule D, Page 3, Part X

Elevations qualifies as a tax exempt organization under section 501(c)(3) of the internal revenue code and, therefore, has no provision for federal income tax. In addition, elevations qualifies for the charitable contribution deduction under section 170 of the code and has been classified as an organization that is not a private foundation. Management has determined that the foundation has no uncertain tax positions. No interest and penalties from uncertain tax positions have been recognized in the financial statements. No tax positions are expected to significantly increase or decrease within the next twelve months. Tax years 2015 through 2018 are open to examination by the internal revenue service. As of december 31, the organization had no uncertain tax positions that qualify for recognition or disclosure in the financial statements.

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IRS990/MissionDesc0HELPING CHILDREN WITH SPECIAL NEEDS REACH THEIR FULL POTENTIAL BY PROVIDING ACCESS TO THE RESOURCES AND SUPPORT THEY NEED TO IMPROVE THEIR OVERALL QUALITY OF LIFE.
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IRS990ScheduleA/Form990ScheduleAPartVIGrp/ExplanationTxt0SEVERAL PRIOR YEARS SCHEDULE A HAS MARKED PART 1 ON LINE 10, A SECTION 509 A 2 ORGANIZATION. THIS APPEARS TO BE INCONSISTENT WITH THE ORIGINAL IRS DETERMINATION LETTER 947, WHICH LISTS THE ORGANIZATION PUBLIC CHARITY STATUS UNDER SECTION 170 (B) (1) (A) (VI). 2018 IS FILED UNDER THE CORRECT SECTION, ACCORDING TO THE ORIGINAL DETERMINATION LETTER.
IRS990ScheduleA/Form990ScheduleAPartVIGrp/FormAndLineReferenceDesc0SUPPLEMENTAL INFORMATION
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IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0GRANT AWARDS PAYABLE
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc1PAYROLL TAX LIABILITIES
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IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0ELEVATIONS QUALIFIES AS A TAX EXEMPT ORGANIZATION UNDER SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE AND, THEREFORE, HAS NO PROVISION FOR FEDERAL INCOME TAX. IN ADDITION, ELEVATIONS QUALIFIES FOR THE CHARITABLE CONTRIBUTION DEDUCTION UNDER SECTION 170 OF THE CODE AND HAS BEEN CLASSIFIED AS AN ORGANIZATION THAT IS NOT A PRIVATE FOUNDATION. MANAGEMENT HAS DETERMINED THAT THE FOUNDATION HAS NO UNCERTAIN TAX POSITIONS. NO INTEREST AND PENALTIES FROM UNCERTAIN TAX POSITIONS HAVE BEEN RECOGNIZED IN THE FINANCIAL STATEMENTS. NO TAX POSITIONS ARE EXPECTED TO SIGNIFICANTLY INCREASE OR DECREASE WITHIN THE NEXT TWELVE MONTHS. TAX YEARS 2015 THROUGH 2018 ARE OPEN TO EXAMINATION BY THE INTERNAL REVENUE SERVICE. AS OF DECEMBER 31, THE ORGANIZATION HAD NO UNCERTAIN TAX POSITIONS THAT QUALIFY FOR RECOGNITION OR DISCLOSURE IN THE FINANCIAL STATEMENTS.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0SCHEDULE D, PAGE 3, PART X
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IRS990ScheduleI/GrantRecordsMaintainedInd0true
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IRS990ScheduleI/GrantsOtherAsstToIndivInUSGrp/GrantTypeTxt0MEDICAL ASSISTANCE GRANTS
IRS990ScheduleI/GrantsOtherAsstToIndivInUSGrp/RecipientCnt0122
IRS990ScheduleI/GrantsOtherAsstToIndivInUSGrp/ValuationMethodUsedDesc0COST
IRS990ScheduleI/SupplementalInformationDetail/ExplanationTxt0THE BOARD OF DIRECTORS APPROVES A TOTAL GRANT AWARD AMOUNT FOR EACH GRANT CYCLE. A GRANT COMMITTEE APPROVES REQUESTS FOR GRANT FUNDS FOR MEDICAL RELATED EXPENSES BASED ON AVAILABLE FUNDS AND THE NATURE OF THE REQUEST. THE APPLICANT IS NOTIFIED OF THE AWARD AND THEY ARE REQUIRED TO ACCEPT THE AWARD BY SIGNING AND RETURNING THE NOTIFICATION. IN MANY CASES, THE MEDICAL CLINIC IS ALSO NOTIFIED OF THE AMOUNT AND SCOPE OF THE AWARD. THE APPLICANT IS GIVEN A TIME FRAME WHERE THE GRANTS FUNDS CAN BE USED. THE AWARDS WOULD BE BASED ON ANTICIPATED MEDICAL RELATED EXPENSES WHICH ARE NOT COVERED BY THEIR INDIVIDUAL OR FAMILY HEALTH INSURANCE PLAN. WHEN A MEDICAL INVOICE HAS BEEN SUFFICIENTLY SUBMITTED TO THE INSURANCE PROVIDER, THE REMAINING BALANCE IS FORWARDED TO THE ORGANIZATION AND IT IS CONSIDERED AND PAID USING THE PRE-APPROVED BENEFIT UNDER THIS PROGRAM. IF AWARD FUNDS ARE AVAILABLE, THE MEDICAL BILL IS PAID ON BEHALF OF THE PARTICIPANT.
IRS990ScheduleI/SupplementalInformationDetail/FormAndLineReferenceDesc0SCHEDULE I, PAGE 1, PART I, LINE 2
IRS990/ScheduleJRequiredInd0false
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/NameOfInterested/BusinessName/BusinessNameLine1Txt0YOUTHFUL HORIZONS
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/NameOfInterested/BusinessName/BusinessNameLine1Txt1OWAN PROPERTIES
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/NameOfInterested/BusinessName/BusinessNameLine1Txt2MILESTONES PEDIATRIC
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/NameOfInterested/BusinessName/BusinessNameLine1Txt3EMPIRE PEDIATRIC
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/RelationshipDescriptionTxt0BOARD MEMBER
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IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/RelationshipDescriptionTxt3BOARD MEMBER
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IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/TransactionDesc0THERAPY PAYMENTS
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/TransactionDesc1IN KIND OFFICE RENT
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/TransactionDesc2THERAPY PAYMENTS
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/TransactionDesc3THERAPY PAYMENTS
IRS990ScheduleL/SupplementalInformationDetail/ExplanationTxt0THERAPY/MEDICAL PAYMENTS WERE MADE TO COMPANIES OWNED BY BOARD MEMBERS AS PART OF THE PROGRAM TO PROVIDE GRANT ASSISTANCE FOR CLIENTS. THE CLIENT SELECTS THE VENDOR, AND WHEN A GRANT APPLICATION IS APPROVED, THE MEDICAL BILLS ARE PAID UNDER THE GRANT AWARD TO THE THIRD PARTY, WHICH IN SOME CASES, ARE TO A VENDOR OWNED BY A BOARD MEMBER. THE BOARD, AS A WHOLE, APPROVES THE TOTAL AMOUNT OF GRANT FUNDS BASED ON THE FINANCIAL POSITION OF THE ORGANIZATION. AN INDEPENDENT GRANT COMMITTEE, THAT EXCLUDES ANY CLINIC OWNERS AND EMPLOYEES, AWARDS ALL INDIVIDUAL GRANTS TO CLIENTS.
IRS990ScheduleL/SupplementalInformationDetail/FormAndLineReferenceDesc0SCHEDULE L, PART V
IRS990/ScheduleORequiredInd0true
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0VOLUNTEERS ARE A VITAL RESOURCE FOR THE ORGANIZATION, PROVIDING A VARIETY OF SERVICES THAT CANNOT BE REASONABLY VALUED. THE VOLUNTEERS ASSIST WITH PROMOTING AND OPERATING FUNDRAISING EVENTS AND OTHER PROGRAM ACTIVITIES.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1HELPING CHILDREN WITH SPECIAL NEEDS REACH THEIR FULL POTENTIAL BY PROVIDING ACCESS TO THE RESOURCES AND SUPPORT THEY NEED TO IMPROVE THEIR OVERALL QUALITY OF LIFE. SINCE INCEPTION, ELEVATIONS HAS AWARDED 334 GRANTS TOTALING OVER 210,000 FOR CHILDREN WITH SPECIAL NEEDS TO ACCESS THERAPY SERVICES AND HOME THERAPY EQUIPMENT IN THE SPOKANE AREA. WHETHER THE CHILD'S GRANT IS FOR COPAYS TOWARDS OCCUPATIONAL THERAPY, FUNDING FOR SPEECH THERAPY SERVICES, PHYSICAL THERAPY DEDUCTIBLES, SPECIALIZED HOME EQUIPMENT, OR OTHER THERAPY SERVICES NOT COVERED BY INSURANCE THAT ENHANCE THE QUALITY OF LIFE FOR THESE CHILDREN, THE TRAJECTORY OF A CHILD'S LIFE IS POSITIVELY AFFECTED. HELPING TO COVER OUT-OF-POCKET MEDICAL EXPENSES FOR FAMILIES STRUGGLING WITH THE FINANCIAL DEMANDS OF CARING FOR A CHILD WITH SPECIAL NEEDS ALLOWS ALL CHILDREN THE OPPORTUNITY TO REACH THEIR FULL POTENTIAL REGARDLESS OF THEIR PARENTS' SOCIOECONOMIC STATUS. ELEVATIONS PARTNERS WITH LOCAL PEDIATRIC THERAPY PROVIDERS TO STRETCH EVERY DOLLAR TO HELP AS MANY CHILDREN AS POSSIBLE. THE ORGANIZATION WAS FOUNDED BY AND RELIES ON THE TIME AND COMMITMENT OF A CORE GROUP OF 25 VOLUNTEERS AS WELL AS MANY OTHERS WHO GIVE OF THEIR TIME AT EVENTS. MANY OF OUR DEDICATED VOLUNTEERS KNOW FIRST-HAND THE CHALLENGES FAMILIES FACE - WHETHER THROUGH PERSONAL EXPERIENCES AS PARENTS OF CHILDREN WITH SPECIAL NEEDS, DEDICATED THERAPISTS AND PROVIDERS, OR CARING COMMUNITY MEMBERS WHO UNDERSTAND THAT WE ALL BENEFIT WHEN CHILDREN IN OUR COMMUNITY ARE GIVEN THE RESOURCES AND SUPPORT THEY NEED.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2GRACE THOMPSON JEFF THOMPSON DIRECTOR DIRECTOR MARRIED
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3PRIOR TO FILING, THE TREASURER SHALL DISTRIBUTE THE FINAL DRAFT OF THE FORM, INCLDUING SIGNIFICANT SCHEDULES, TO ALL BOARD MEMBERS FOR REVIEW AND COMMENT. COMMENTS OR CHANGES SUGGESTED BY SUCH BOARD MEMBERS SHALL BE FORWARDED TO THE TREASURER WITHIN FIVE (5) DAY OF RECEIPT OF THE FORM. THE PREPARER SHALL REVISE THE FORM IF NECESSARY AND THERAFTER SUBMIT IT TO THE INTERNAL REVENUE SERVICE FOR FILING.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4IF THE GOVERNING BOARD OR COMMITTEE HAS REASONABLE CAUSE TO BELIVE AN AFFECTED PERSON HAS FAILED TO DISCLOSE ACTUAL OR POSSIBLE CONFLICTS OF INTEREST, IT SHALL INFORM THE INDIVIDUAL OF THE BASIS FOR SUCH BELIEF AND AFFORD THE INDIVIDUAL AND OPPORTUNITY TO EXPLAIN THE ALLEDGED FAILURE TO DISCLOSE. IF, AFTER HEARING THE INDIVIDUAL'S RESPONSE AND AFTER MAKING FURTHER INVESTIGATION AS WARRANTED BY THE CIRCUMSTANCES, THE GOVERING BOARD OR COMMITTEE DETERMINES THE INDIVIDUAL HAS FAILED TO DISCLOSE AN ACTUAL OR POSSIBLE CONFLICT OF INTEREST, IT SHALL TAKE APPPROPRIATE DISCIPLINARY AND CORRECTIVE ACTIONS.

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