Madera County Workforce Investment

“Mcwic's annual form 990 is reviewed by the executive director and board prior to being filed with the irs. However, in the case of a pending submission deadline and to avoid penalty by the irs, the form 990 may be reviewed and approved by the executive director prior to being filed, and will be reviewed by the board after being filed. The internal revenue code and regulations do not require the governing board to review the form 990, therefore, the irs does not require an organization's board to do so. However, the irs believes that board review of form 990 may reflect good governance; in particular, a board that is more proactive, informed and engaged in ensuring that the organization continues to be organized and operated exclusively for exempt purposes.”

“Each board member and officer is required to review and sign a disclosure of interest and the acknowledgement of conflict of interest on an annual basis. This knowledge is reviewed by the executive committee when possible conflicts exist. There have been no conflicts identified in the past year. All board of directors members are covered under the policy. The determinations are made at the board of directors meetings. If there were to be a conflict, it would be reviewed at the board of directors meetings. If a conflict of interest is determined to exist, the person or persons with a conflict would be prohibited from participating in the governing body's deliberations and decisions in the transaction.”

“The executive director's salary is reviewed and approved by the board of directors on an annual basis. If members of the board have a conflict, they are not involved. As stated in question 12c, there have been no conflicts identified in the past year. Comparable data used included other directors salaries from other workforce development board (wdb) areas. Since other wdb's are larger, the area's population in conjunction with allocations were taken into consideration and adjusted proportionately in order to determine a comparable wage analysis. Other officers and key employees' compensation is reviewed and approved by the executive director, and reviewed by the board of directors. These processes were most recently conducted in september 2021 and documented in the meeting minutes.”

“All governing documents, conflict of interest policy, and financial statements are maintained at the madera county workforce investment corporation's office and are available for review upon request.”

“Madera county workforce investment corporation provides and invests in a comprehensive array of business and career services, including job training and skills development, that promote economic health and prosperity, and support the economic success of residents, businesses, and communities in madera county.”

“Madera county workforce investment corporation provides and invests in a comprehensive array of business and career services, including job training and skills development, that promote economic health and prosperity, and support the economic success of residents, businesses, and communities in madera county.”

“Subcontractors: program service expenses 647,147. Management and general expenses 0. Fundraising expenses 0. Total expenses 647,147. Other fees for services: program service expenses 0. Management and general expenses 16,274. Fundraising expenses 0. Total expenses 16,274.”

“The board of directors assumes responsibility for oversight of the audit, review, compilation of its financial statements and selection of an independent accountant. The organization has not changed its oversight or selection process during the tax year.”