Chicago Literacy Alliance

“The executive committee reviews the form 990 and makes it available to the board of directors for their review. Once approved the form is filed.”

“The chicago literacy alliance maintains a written conflict of interest (coi) policy, which is reviewed by management and the board of directors at least annually and modified as required. The board of directors and officers of the organization are required to certify annually that they have read and understand the coi policy and shall inform in writing to the executive director and the chair of the finance committee of all reportable conflicts or confirm that there are no conflicts to report. Management also monitors all transactions during the normal course of business to identify other potential conflicts and reviews potential conflicts to determine whether any actual conflicts exist. Individuals who believe they are in a potential conflict are required to recuse themselves from the deliberation and decision-making process.”

“The organization utilized a nonprofit information resource provider to determine if the executive director's and other key employee's salaries were in line with the sector. The salaries were benchmarked against industry standards for nonprofits by reviewing 990 and professional association salary data.”

“Requests must be made through the executive director. Upon request, those documents are made available to the requestor.”

“The liability recorded estimates the fair value of the exit liability associated with the termination of the organization's lease based on its cease-use date, valued at the present value of the lease obligation for the remaining length of the term of the lease agreement, net of the present value of estimated sublease rentals that could be reasonably obtained.”