Heart of America Foundation

“The form 990 was prepared by hoa's auditing firm and reviewed by the finance lead, president of hoa, and the finance committee. It was then shared with the full board before filing.”

“Annually, all employees have received a copy of the written policy and it is part of the employee manual. The president addresses any conflicts that arose related to employee conflicts of interest. The board has a separate conflict of interest policy requiring members to disclose potential conflicts to the chairman of the board, or if the potential conflict involves the chairman, the chairman notifies the chairman of the corporate governance committee. Upon determination that a conflict of interest exists, the individual with the conflict of interest discloses the conflict of interest to the board of directors, and disclosures are recorded in the board minutes of the meeting at which it is made. An individual may also recuse himself or herself at any time from involvement in any decision or discussion in a board meeting in which they believe they may have a conflict of interest. The chairman takes action as is necessary to assure that the transaction involving a conflict of interest is completed in the best interest of the foundation without the substantive involvement of the person who has the conflict of interest.”

“The executive committee is responsible for reviewing current compensation levels for the president. A written recommendation is made to the chairman noting their process and final recommendation. The chairman of the committee presents their recommendation to the full board in executive session without the president present. Factors considered by the committee include compensation data for other executives in the non-profit sector with comparable budgets and staff, the tenure and performance of the individual as well as the economic reality of the organization's financial condition. A performance review of the president's service was conducted in february 2024.”

“Financial statements are made available to the public through the organization's website and upon request. Governing documents and the conflict of interest documents are not made available to the public.”

“Construction and consulting: program service expenses 4,117,783. Management and general expenses 0. Fundraising expenses 0. Total expenses 4,117,783. Consulting: program service expenses 0. Management and general expenses 0. Fundraising expenses 128,715. Total expenses 128,715. Consulting and payroll services: program service expenses 0. Management and general expenses 71,392. Fundraising expenses 0. Total expenses 71,392.”