Urac

“The draft federal form 990 is prepared by an outside public accounting firm and is reviewed by the accounting manager. The federal form 990 is reviewed and approved by the cfo prior to filing with the internal revenue service.”

“The conflict of interest policy stipulates that all urac officers, employees, agents, consultants, and committee members sign a conflict of interest statement annually. In addition, the conflict of interest statement that employees sign provides the following: whenever such a conflict exists, the person should withdraw from the situation. This includes not participating in any phase of or activities related to the application or accreditation process where the person has a vested interest in the accreditation outcome, whether it is for or against accreditation.”

“For the ceo and all employees, urac worked with a compensation consulting company which helped urac set its compensation levels. The compensation levels were market based and gave consideration to job descriptions, size of the organization, industry. This criterion was tested for relevance and reasonableness in the market place.”

“Urac currently makes certain governing documents, conflict of interest policy and summary financial statements available to the public upon request.”

“Consulting: program service expenses 1,395,549. Management and general expenses 134,278. Fundraising expenses 0. Total expenses 1,529,827. Payroll services: program service expenses 8,633. Management and general expenses 8,633. Fundraising expenses 0. Total expenses 17,266. Temporary labor: program service expenses 70,015. Management and general expenses 57,080. Fundraising expenses 0. Total expenses 127,095. Recruiting: program service expenses 69,466. Management and general expenses 68,569. Fundraising expenses 0. Total expenses 138,035.”

“On january 1, 2019, urac re-evaluated its performance obligations under its contracts with consumers and determined that it has only one performance obligation to satisfy. As a result of the change in the revenue recognition for contracts, urac restated net assets to reflect a $2,014,554 adjustment for the cumulative effect on previous of retrospectively applying the change in performance obligation.”