Chesapeake Multicultural Resource Center Inc.

“Two directors, marianne f. Byrnes and peter g. Byrnes are married. Marianne byrnes term on the board ended in december 2014.”

“In board meetings prior to the due date of form 990, board members are reminded of the need to review the form 990 and provided with an estimate of when they will receive it. A final draft of the 2013 form 990 ez and schedules was sent by email to all board members on may 6 with a request that members review and comment. The return was finalized on may 13. In addition to the procedures outlined above, a preliminary draft of the 2014 form 990 and schedules was distributed in early march to allow for a longer comment period.”

“The organization provides new directors with an initial conflict of interest checklist that is generally completed and reviewed at their first board meeting. Thereafter, at the first board meeting of each calendar year board members are required to review their previous disclosures and execute an updated disclosure indicating that there have been no changes in their status. If there were any changes, a new disclosure would be required. Members of the executive committee of the board are actively involved in reviewing grants, contracts and expenditures and bring matters that are potential conflicts in fact or appearance to the attention of the entire board for review. Such review is documented in meeting minutes.”

“The organization only has one key employee, who did not receive a salary change in 2014. The established process used to make decisions regarding pay is based on individual salary history and performance, reference to market compensation data for similar positions and a collaborative decision made either by the executive committee or the entire board meeting in executive session. These decisions would be documented in the meeting minutes.”

“As required by maryland law, forms 990 ez and financial statements for 2013 and form 1023 were available upon request. As of january 2015, these forms were also made available as links in the about tab of the organizations website (www.chesmrc.org), and will be updated as new statements are published.”

“The organizations by-laws were amended in 2013 to conform with regulations promulgated by the maryland secretary of state charitable division regarding the threshold requirements for audits or reviews by an independent accountant. Current regulations require a review when annual charitable contributions exceed $200,000, and an audit at $500,000; contribution income in $2014 was $118,733. An audit committee of the board performed and documented a review of 2013 transactions. In february, 2015 the board approved the selection of an independent accountant to prepare a compilation of the 2014 financial statements. The executive committee assumed the responsibility for the oversight of this engagement.”