Penn-Mar Organization Inc (MD)

“The cfo initially reviews the form 990 and presents it to the president/ceo for review. The form 990 is then presented to the full board before filing.”

“Annually all board members are required to sign a full disclosure form concerning interests of conflict. This form is reviewed and filed unless an issue of conflict or potential conflict is disclosed. In case of a disclosed conflict, the issue will be presented to the ceo and taken to the full board for consideration. Independent council will be consulted if deemed prudent by the board.”

“The nominating & governance committee uses a multi-step approach to assess the market and collect performance information to establish the compensation for the ceo. Comprehensive market study every 24-36 months of mid atlantic nonprofit organizations. 990's are reviewed of local non-profit organizations with particular focus on those organizations in similar service and with revenues above $25mm. This collected data provides an assessment of the market to establish total compensation guidelines for the ceo role. Performance data is collected annually from the board, summarized by the executive committee, which develops a ceo compensation recommendation presented to the board for final approval. All other compensation is determined internally based on statistical comparative data falling well within the range of similar non-profits organizations.”

“Penn-mar provides documentation upon request to any individual or organization requesting such. Additionally, the annual report is distributed liberally, and specifically to all donors contributing more than $100 annually. Interested parties are also informed, at the bottom of the penn-mar human services letter head, that documentation and financial information is available from the state of maryland under the maryland charitable solicitation act, also upon request.”

“Excess of assets aquied over liabilities assumed from change, inc. Merger 3,274,304.”

“No change from prior year”

“Penn-mar organization, inc. (of maryland) acquired change, inc. To allow it to further its mission in maryland. Since penn-mar organization, inc. (of maryland) acquired the assets and liabilities of change, inc. For zero (0) consideration paid, an inherent contribution of $3,274,304 was recorded in the statements of activities as excess of assets acquired over liabilities assumed.”