Central Delaware Hfh

“The treasurer and the board of directors reviews the 990.”

“An interested person discloses conflict to the board of directors and explains the reason for the conflict. The interested person leaves the room for discussion amongst the board of directors. The board of directors determines if a conflict exists or not. The interested person comes back and is given an answer from the board if a conflict exist or not.”

“Researched kent county non-profit executive directors for similar sized organizations and surrouding habitat for humanity affiliates.”

“These documents are made available upon request.”

“Line 8 - restatement in response to the coronavirus (covid-19) outbreak in 2020, the u.s. Federal government enacted the coronavirus aid, relief, and economic security act (also known as the cares act) to provide 2 trillion in economic stimulus. As part of the stimulus package, refundable employee retention credits were provided to employers whose operations were suspended due to covid-19 or whose revenue significantly decreased. On december 21, 2020, the consolidated appropriations act expanded the employee retention credit (erc), which included credits worth up to 7,000 per employee per quarter. During the year ended december 31, 2022, the organization determined they complied with the grant restrictions for the year ended december 31, 2021. The grant for december 31, 2021 totaled 137,099. The organization recorded the erc under asc 958-605, not-for-profit entities: revenue recognition. In accordance with this asc, the organization recognized the erc when the conditions on which they depended where substantially met and presented the erc in contributions - grants on the statement of revenues, expenses, and other changes in net assets - modified cash. Since the period was december 31, 2021, the prior year financials were restated to include the grant. The restatement increased employee retention credit receivable, contributions - grants, change in net assets, and without donor restrictions net assets as previously reported at december 31, 2021, by 137,099.”

“Included on 990 part viii expenses 80,190 expenses included on part viii -80,190 book / tax depreciation difference -957 total -957”