Arts and Humanities Council of Montgomery County In

“The 990 was prepared by the outside accountants and reviewed by senior staff and the audit committee. It was then distributed electronically to the entire board of directors prior to filing.”

“Each board member and employee annually completes a conflict of interest statement. Statements are reviewed by the ceo and appropriate actions are taken should a conflict arise. In the event of a conflict of interest on the part of a director or officer, that person recuses him/herself from any related vote/discussion.”

“The board reviewed generally accepted compensation practices for ceo compensation, reviewed data from comparable organizations, and determined compensation within the parameters of the ahcmc budget. The process and results are documented. The last review was in june 2020.”

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

“The organization ended the events program during the year.”

“With the onset of the pandemic, and as our community responded to the new constraints and business interruptions due to the covid-19 outbreak, ahcmc deployed a rapid response communications plan to help prepare our community before and during the crisis. Staff compiled a growing list of resources for emergency planning & communications, remote work technologies, health updates, legislative updates, and community resources for individuals and organizations affected by the outbreak. Ahcmc extended application deadlines; expedited grant awards; provided time extensions and project amendments for applicants and grantees; provided covid-19 emergency funds and conducted research on the effects of the pandemic to support successful fundraising and increased impact during this difficult time.”

“On may 4, 2020, ahcmc received loan proceeds in the amount of $119,150 under the paycheck protection program. The promissory note calls for monthly principal and interest payments amortized over the term of the promissory note with a deferral of payments for the first six months. Under the coronavirus aid, relief, and economic security act (cares act), the promissory note may be forgiven by the small business administration in whole or in part. Ahcmc intends to use the proceeds for purposes consistent with the paycheck protection program and believes that its use of the loan proceeds will meet the conditions for forgiveness of the loan. Ahcmc intends to apply for forgiveness after completing the 24-week period.”