Sisters Circle Inc

“No formal review of the form 990 occurs at the board of directors level, but a review does take place by the organization's finance committee. After the return is prepared by the organization's accountants, a draft copy of the return is provided to the organization for review. The accounting manager first agrees all of the amounts to the general ledger and financial statements and discusses any questions with the accountants. Once this is done the accounting manager reviews the entire return with the executive director and then the return is distributed to the finance committee for their review. All questions are then summarized and discussed with the accountants. All required changes are made by the accountants and a final return is reviewed and signed by the executive director.”

“Each director, principal officer and member of a committee with governing board delegated powers shall annually sign a statement which affirms such person has received a copy of the conflicts of interest policy, has read and understands the policy, has agreed to comply with the policy, and understands the organization is a non-profit public benefit corporation and in order to maintain its federal tax exemption it must engage primarily in activities which accomplish one or more of its tax exempt purposes. To ensure the organization operates in a manner consistent with public interest purposes and does not engage in activities that could jeopardize its tax exempt status, periodic reviews shall be conducted. the periodic reviews shall at a minimum include the following subjects: a. Whether compensation arrangements and benefits are reasonable, based on competent survey information, and the result of arm's length bargaining. b. Whether partnerships, joint ventures, and arrangements with management organizations conform to the Organization's written policies, are properly recorded, reflect reasonable investment or payments for goods and services, further public benefit purposes and do not result in inurement, impermissible private benefit or in an excess benefit transaction.”

“Annually, the executive director works with the program and staff committee to develop goals for the year, which are presented to the board of directors. At the end of the year the executive director meets with the program and staff committee to determine if the goals have been achieved. The program and staff committee then makes a recommendation to the board of directors regarding any compensation adjustment, which is discussed in a private session by all board members without the executive director present. Any compensation adjustment is determined and communicated to the executive director with follow up being provided by the president.”

“All of the organization's governing documents are kept in the organization's main office. Being public documents, they are available to anyone upon request. The organization maintains a website that includes public information regarding programming and outreach. Additionally, the organization retains copies of the annual reviewed financial statements for review by anyone upon request. These financial statements are also included with most grant applications.”

“The financial statements have been prepared on the modified cash basis of accounting, which is a comprehensive basis of accounting other than accounting principles generally accepted in the united states of america ("u.s. Gaap"). In alignment with the modified cash basis of accounting, revenues and related assets are recognized when received rather than when earned, and expenses are recognized when paid rather than when the obligation is incurred. The modified cash basis of accounting includes recording of depreciation and amortization on long-lived assets and liabilities for credit card expenditures. Consequently, accounts receivable, accounts payable and accrued expenses, other than those mentioned above, are not included in the financial statements. If an expenditure results in the acquisition of an asset having an estimated useful life which extends substantially beyond the year of acquisition, the expenditure is capitalized and depreciated or amortized over the estimated useful life of the asset. The financial statements are not intended to present the organization's net assets and changes in its net assets in accordance with u.s. Gaap.”