Our Community Ltd.

“The governing body or a designated committee reviews the Form 990. The review may be conducted after the form was filed with the IRS.The officers, directors, trustees, board committee members, or management may be involed in the review process.The may be conducted at a special meeting or at a board meeting.The review may be a thorough line-by-line review or a more general overview.The review process is documented in the meeting minutes. This documentation should be included in the organizations records.”

“THE POLICY:The organization has a written conflict of interest policy. The policy applies to, such as board members, officers, and key employees.An annual disclosure form and ongoing reporting of any new conflicts.Potential conflicts are reviewed and resolved include a committee that evaluates disclosures and determines appropriate actions.The enforce the policy, includes disciplinary actions for non-compliance.All disclosures and the resolution process are documented and kept on file.”

“Adopt a Written Policy: The board of directors should adopt a written policy for reviewing and approving the CEOs compensation. This policy should ensure that the compensation is reasonable and not excessive1.Conduct a Comparability Review: The board should conduct a comparability review, which involves comparing the CEOs compensation with that of similar positions in similarly-sized organizations within the same geographic area. This helps establish that the compensation is reasonable1.Use an Independent Body: An independent body, such as a compensation committee, should conduct the review. This body should not include the CEO or anyone who might benefit from the compensation decision1.Document the Process: The board should document the entire process, including who was involved.”

“AVAILABLE UPON REQUEST.”

“Prior filed 2022 form 990 was incorrect. Amended return filed after review by accountant and board.”