Thrive Chicago Nfp

“Two officer postions of Thrive Chicago, (the Treasurer/Secretary and Assistant Treasurer/Assistant Secretary) are both employees of the Robert R McCormick Foundation.”

“After the Form 990 is completed, the tax return is reviewed by both the Treasurer of Thrive Chicago and legal counsel. Once the Treasurer and legal counsel are satisfied that the return has been prepared accurately in accordance with IRS instructions, a copy is sent to all Board members for their review.”

“Each year, Thrive Chicago's Annual Disclosure Statement and Conflict of Interest Policy are distributed to all employees, officers and Board members. Conflict of Interest Disclosure Statements must be completed each year by all employees, officers and Directors and returned to the Chair of the Board for review. if the Chair of the Board determines that there is in fact a conflict of interest involving an employee or officer, the matter is disclosed to the Board of Directors for resolution. Conflicts involving a Board member are handled in a similar matter, with the individual disclosing the conflict abstaining from any vote on the matter.”

“Compensation recommendations are reviewed by the Board in conjunction with the annual budget process and are based on employee performance, market comparability data, inflationary figures and budget constraints. Board approval/disapproval of recommmended salaries is documented in the minutes as approval/disapproval of the annual budget. Salaries of unbudgeted new hires are approved by both the Chair of the Board and the Treasurer based on the above stated criteria.”

“Thrive Chicago's governing documents, conflict of interest policy, and financial statements are available to the public upon request.”

“Outside Contractural Services: Program service expenses 202,418. Management and general expenses 0. Fundraising expenses 0. Total expenses 202,418. Outside Services: Program service expenses 0. Management and general expenses 11,518. Fundraising expenses 0. Total expenses 11,518. Summer Melt Program: Program service expenses 299,814. Management and general expenses 0. Fundraising expenses 0. Total expenses 299,814.”

“The oversight or selection process did not change during the tax year.”