Chadd-Children and Adults With

“The form 990 was prepared by the outside accountants and reviewed by the ceo and the finance/audit committee. A copy was shared with the entire board of directors prior to filing with the irs.”

“Annually, all directors, officers, members of board committees, and senior managers sign a conflict of interest disclosure form. If a conflict arises, the interested person discloses the financial interest or dual interest and all material facts. After discussion with the interested person and the board or committee, the interested person leaves the board or committee meeting while the determination of a conflict of interest is considered and voted upon. The remaining disinterested director(s) decide if a conflict of interest exists. If a conflict of interest is found to exist, it is addressed by the board or committee. If a more advantageous transaction or arrangement, or a mitigation of the dual interest, is not reasonably attainable under circumstances that would not give rise to a conflict of interest, the disinterested director(s) determine whether the transaction or arrangement or dual interest is fair and reasonable and in chadd's best interests and make a decision as to whether to enter into the transaction or arrangement, or permit the dual interest to continue, in conformity with such determination.”

“The board of directors executive committee annually reviews ceo performance and salary. Most recently in july 2021, the executive committee and the finance committee determined a salary range for the next ceo and also decided to have an interim ceo to review the organization processes, staff and programs before hiring a ceo. The board uses compensation studies published annually by the national health council. Deliberation and decision of the review is documented in the executive committee meeting minutes.”

“The organization makes its governing documents, conflict of interest policy, and financial statements available to the public on its website.”

“On february 4, 2021, chadd received loan proceeds in the amount of $190,000 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 ten months after the last day of the covered period. 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. Chadd 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. Chadd intends to apply for forgiveness after completing the 24-week period. If forgiveness is granted, chadd will record revenue from debt extinguishment during the period that forgiveness is approved.”