Institute for Nonprofit Practice Inc

“A detailed review of the form 990 is done by the president/ceo, certain other members of management and the outsourced cfo. Once any questions/edits have been addressed by the audit firm, a subsequent draft will be provided to the finance and audit committee for review. Once approved by the committee, a copy of the final version will be provided to each member of the board prior to filing with the irs.”

“The organization's conflict of interest policy is applicable to all members of the board and any committee thereof that had the power to exercise board-delegated powers, and the organization's principal officers and key employees. For disclosures of potential conflicts pertaining to compensated principal officers and key employees, the ceo is responsible for making the determination of whether or not a conflict of interest actually exists, and for reporting it to the board. The board is responsible for making the determination of whether or not a conflict of interest actually exists. For disclosures of potential conflicts pertaining to uncompensated principal officers and the ceo, the interested person is permitted to make a presentation to the board, but must leave the portion of the meeting during the discussion and vote on his or her possible conflict of interest. The board shall review any conflicts and the board (or an appointed committee thereof) will determine if a more advantageous transaction can be obtained by the organization that would not give rise to a conflict of interest, before approving any conflicting transactions.”

“Annually, the board will evaluate the president & ceo on his/her performance, and ask for his/her input on matters of performance and compensation. The board or a committee assigned by the board will obtain research and information to make a recommendation to the full board for the compensation of the president & ceo based on a review of comparability data. This data may include the following: 1. Salary and benefit compensation studies by independent sources; 2. Written job offers for positions at similar organizations; 3. Documented telephone calls about similar positions at both nonprofit and for profit organizations; and 4. Information obtained from the irs form 990 filings of similar organizations. The board will document how it reached its decisions in minutes of the meeting. No paid staff members or relatives of paid staff will participate in these decisions; board members participating are volunteers and not compensated by the organization, and will operate independently without undue influence from the president & ceo. This process was last undertaken in august 2023.”

“The organization's governing documents, conflict of interest policy and financial statements are made available upon request.”

“The process has not changed from the prior year.”