Equity Community Development

“The 990 was prepared and submitted directly to the IRS by the Executive Director. While not a requirement, it is anticipated that policies will be developed and adopted in the future to allow Board members to review draft 990 prior to submission.”

“The conflict of interest policy adopted by the Governing Board requires that each director, principal officer, and board member sign statements affirming that the policy has been received and understood. All independent contractors and any management or administrative partnerships are reviewed prior to contracting with that entity to determine the identity of the principals and any potential for private interest or excess benefit to each director, officer, or board member. Periodic reviews of compensation agreements are conducted.”

“Compensation for the Executive Director was most recently reviewed and approved in FY 2019. No other key employees were affected or have been affected since. No changes of any kind have been made since approval. The process to establish reasonable compensation involved extensive research into what someone in a similar position would earn at a similar organization. A study was compiled consisting of state agencies performing similar tasks and responsibilities. Information from publicly available IRS 990 Reporting forms was utilized for the nonprofit data and information was sourced from the publicly available Government Salaries Explorer of the Texas Tribune for the specific state agency salary figures. Objective comparisons were also made at the national, state, and local levels for similar nonprofit organizations with aggregated data sources from the 2019 Edition of the GuideStar Nonprofit compensation Report. The study was presented to the Governing Board at a Board meeting in a manner that allowed for contemporaneous substantiation, discussion, deliberation, and unanimous approval by all Board members.”

“Governing documents, conflict of interest policy, and financial statements of all kinds are available upon request; contact information is displayed on our website: www.equitycdc.org. Additional financial information is publicly available on www.guidestar.org and similar organizations.”

“In fulfilling the mission as a nonprofit organization, ECDC contracts with multiple construction contractors for owner-occupied housing rehabilitations. No single contractor exceeded $100,000 in FY24. Construction Contractors: $310,608 In fulfilling the mission as a nonprofit organization, ECDC engages several professional administrative-type services not separately listed. Homeowners Insurance: $5,732; Title Reports: $2,332; Land Surveys: $1,191; Payroll fees: $1,778”