Interfaith Works Inc.

“The form 990 is reviewed by the chief executive officer and the executive committee prior to filing with the irs. A copy of the form 990 is then provided to each member of the board of directors.”

“A copy of the conflict of interest policy is provided annually to each member of the governing body as well as to all officers and key employees; each is reminded to review the policy and to report any conflicts of interest. In connection with any actual or possible conflict of interest, an interested person discloses the existence of the financial interest and is given the opportunity to disclose all material facts to the directors and members of the committees with governing board-delegated powers considering the proposed transaction or arrangement. In an effort to aid such disclosure, each member (board, committee, chief executive officer, chief operating officer) completes the interfaith works conflict of interest questionnaire as circumstances warrant, but no less frequently than annually. The board or committee reviews each member questionnaire and any other disclosures regarding the financial interests of its members. After disclosure of the financial interest, the interested person leaves the board or committee meeting while the remaining board or committee members discuss and vote on whether a conflict of interest exists. After exercising due diligence, the governing board or committee determines whether the organization can obtain with reasonable effort a more advantageous transaction or arrangement from a person or entity that would not produce a conflict of interest. The interested person is not present in the room during the determination. If an alternative transaction or arrangement is not possible, the governing board or committee determines by a majority vote of the disinterested directors whether the transaction or arrangement is in the best interests of the organization, for its own benefit, and fair and reasonable. Based on these determinations, the board or committee makes its decision on whether to enter into the transaction or arrangement. If the board or committee has reason to believe an individual has failed to disclose actual or potential conflicts of interest, it will inform the member and allow him/her to explain the alleged failure to disclose. If the board or committee still has reason to believe a conflict of interest exists after the alleged conflict is explained, it will take corrective action, possibly including removal of the member from the board or committee or from employment at interfaith works.”

“The board does an annual performance review of the ceo and sets the compensation level for the ceo. The board uses gathered information collected from other non-profits in the dc area with comparable annual revenues and the process is documented. The last compensation review took place july 2023.”

“The governing documents, conflict of interest policy, and audited financial statements are not generally made available to the general public, but if requests for copies of these documents were to be received, the organization would consider making them available to the requestor.”

“Montgomery county provided funding to the organization in the form of a promissory note that may be forgiven if certain conditions are met. The organization's forgivable note payable is considered to be a liability until the conditions of debt forgiveness have been met and management believes the conditions of debt forgiveness will be met. However, if the stipulated conditions of debt forgiveness are not met, the note payable will be repaid in accordance with its terms. The organization had one forgivable note payable totaling $588,470 at june 30, 2023. The forgivable note payable is eligible to be forgiven during the year ending june 30, 2038. There were no forgivable notes payable that met the conditions of debt forgiveness during the year ended june 30, 2023.”