Lifes New Beginnings

“Life's new beginning has one class of membership.”

“These members annually chose by ballot the directors of the organization at the annual members meeting.”

“The form 990 will be delivered via e-mail to all board members before its filing.”

“The purpose of this conflict of interest policy is to protect life's new beginning's interest when it is contemplating entering into a transaction or arrangement that might benefit the private interest of an officer or director of the agency. An interested person is any director, principal officer or board member who had direct or indirect financial interest as defined below. A person has financial interest if the person had directly or indirectly through business, investment or family: 1. An ownership or investment interest in any entity with which the agency has a transaction or arrangement 2. A compensation arrangement with the agency or with any entity or individual with which the agency has a transaction or arrangement 3. A potential ownership or investment interest in or compensation arrangement with any entity or individual with which the agency is negotiating a transaction or arrangement. A voting member of the governing board who received compensation, directly or indirectly, from the agency for services is precluded from voting on matters pertaining to that member's compensation. Each direct of the governing board delagated powers shall annually sign a statement which affirms such a person: 1. Has received a copy of the conflicts of interest policy 2. Has read and understands the policy 3. Has agreed to comply with the policy 4. Understands the organization is charitable and in order to maintain the federal tax exemption it must engage primarily in activities which accomplish one or more of the tax exemption purposes. To ensure the agency operates in a manner consistent with charitable purposes and does not engage in activities that could jeopardize its tax exempt status, periodic reviews shall be conducted. The periodic reviews shall, at a minimun, include the following subjects: 1. Whether compensation arrangement and benfits are reasonable, based on competent survey information and the result of arm's length bargaining. 2. Whether partnerships, joing ventures and arrangements with management organizations conform to agency's written policies, are propertly recorded, reflect reasonable investment or payments for goods and services, further charitable purposes and do not result in inurnment, impermissible perivate benefit, or in an excess benefit transaction.”

“The compensation package, which includes comparable salary data, for the directors is reviewed and approved by board members at a board meeting. Any board member who receives compensation from the agency is precluded from voting on matters pretaining to that member's compensation.”

“The organization does not make its governing documents or conflict of interest policy available for public inspection as this is not required by federal or state law. The organization includes a copy of its financial statements with the state registration filed with the pennsylvania department of state, bureau of charitable organizations. These documents are a matter of public record and can be viewed at the bureau office.”

“The organization did not have any instances where backup withholding was required; however, if the situation would arise, the organization is aware of the reporting requirements and would handle that accordingly.”

“The board of directors assumes responsibility for oversight of the audit and selection of an independent accountant. This process has not changed from prior year.”