Children Like Loni Organization

“During the 2024 tax year, the organization revised its bylaws to clarify the voting rights and roles of board directors, reinforce board oversight processes, and confirm the authority of the Executive Director. In addition, the board formally adopted key governance policies, including a Conflict of Interest Policy, Whistleblower Protection Policy, Document Retention and Destruction Policy, Executive Compensation Policy, and a policy for Board Review of Form 990. These updates were made to strengthen transparency, accountability, and alignment with IRS governance best practices.”

“The Form 990 was prepared by the organization's treasurer in consultation with the executive director. A draft was provided to the board prior to submission for review and comment.”

“The organization requires each board member and key employee to complete an annual Conflict of Interest Disclosure Form. These forms are reviewed by the board chair or secretary. Any disclosed conflicts are recorded in the board minutes, and individuals recuse themselves from discussions or votes where a conflict exists. Compliance with this policy is reviewed annually at a board meeting.”

“The Executive Director's compensation was reviewed and approved by the Board of Directors in 2024. The Executive Director did not participate in the discussion or vote regarding their own compensation. The approval and rationale were documented in the board meeting minutes. Khiva Mackey, Executive Director, received $6,491 in compensation during 2024. This amount reflects wages reported on Form W-2/W-3 and was funded through a grant supporting the after-school program. The Board of Directors approved this compensation. No additional benefits were provided.”

“The organization makes its governing documents (such as bylaws), conflict of interest policy, and financial statements available to the public upon request. Requests can be submitted via email or through the organization's website.”

“Khiva Mackey, Executive Director, received $6,491 in W-2 compensation for 2024. This was funded through a grant and approved by the board. She received no fringe benefits.”

“Includes $979,368.80 in in-kind food and clothing donations. Used directly in exempt programs and valued using donor-provided or market estimates.”

“Form 990, Part IX, Line 24e includes $979,368.80 in non-cash, in-kind donations received and distributed through the organization's food pantry and after-school program. These contributions were entirely used in program services and reported in Column B. To ensure total program service expenses in Part IX, Line 25, Column B matched the total reported in Part III, Line 4e ($1,075,504), the organization reallocated eligible shared costs from other functional areas. This included accounting services, office and IT expenses, and occupancy used in support of direct program execution. A final $277 was reallocated to Line 24e, Column B to reconcile the small rounding gap between Part IX and Part III. Total reported program expenses (Line 25, Column B) equal $1,075,504 as required.”

“Functional expenses were allocated based on actual program tracking, grant restrictions, and reasonable estimates of administrative vs. program use. Fundraising expenses include marketing, events, and donor development activities. Program services reflect direct costs of food distribution and after-school education support.”

“The organization depreciates equipment using the straight-line method over 5 years with no salvage value. In 2024, the organization recorded $809.59 in depreciation for a vehicle valued at $4,047.96.”

“The loan reported is a balance due on a vehicle purchased by the organization through a personal loan issued to a board member via Navy Federal Credit Union. The balance was $1,266.00 at the beginning of the year and paid down to $496.23 by year-end. The loan is unsecured and was used to acquire a program vehicle (Ford Transit).”

“In 2024, the organization began reporting net assets under FASB ASC 958. Net assets are now classified as with donor restrictions and without donor restrictions. Prior year totals have been reconciled accordingly net assets (Column A, Lines 27 and 28) were reclassified from the prior year presentation under former SFAS 117 (Lines 29 and 31) to the current FASB ASC 958 standard. The total net assets remain unchanged.”

“Net assets without donor restrictions include undesignated funds for general operations. Net assets with donor restrictions include grant funds and restricted donations designated for specific programs such as the Nourish & Thrive after-school program and food pantry services.”

“Line 9 includes adjustments for in-kind contributions that were reported as revenue but did not increase net assets, and other rounding or categorization adjustments necessary to reconcile the financial statement net assets with tax reporting totals.”