Peoplefund

“The form 990 is prepared by an independent tax accountant in conjunction with the organization's accounting and finance department. A draft form 990 is prepared and reviewed by the cfo and president & ceo, and adjustments are made, as necessary. A complete copy of the form 990 is then reviewed by the audit committee of the board of directors and provided to each voting member of the board of directors prior to filing with the internal revenue service.”

“In connection with any actual or possible conflict of interest, an interested person (which includes directors, officers, and key employees) must disclose the existence of the financial interest or relationship and be given the opportunity to disclose all material facts to the directors and members of committees with governing board delegated powers considering the proposed transaction or arrangement. After disclosure of the financial interest or relationship, and after any discussion with the interested person, he/she shall leave the governing board or committee meeting while the determination of a conflict of interest is discussed and voted upon. The remaining board of committee members shall decide if a conflict of interest exists. Should an actual conflict of interest exist, the chairperson shall, if appropriate, appoint a disinterested person or committee to investigate alternatives to the proposed transaction or arrangement and, after exercising due diligence, the governing board or committee shall determine whether the corporation can obtain with reasonable efforts a more advantageous transaction or arrangement from a person or entity that would not give rise to a conflict of interest. If a more advantageous transaction or arrangement is not reasonably possible under circumstances not producing a conflict of interest, the governing board or committee shall determine by a majority vote of the disinterested directors whether the transaction or arrangement is in the corporation's best interest, for its own benefit, and whether it is fair and reasonable. The proceedings are recorded in the board or committee meeting minutes.”

“Compensation for the president & ceo is determined by the executive committee and subsequently ratified by the board using comparability data from similar sized nonprofits in the region. The decision and approval of compensation is documented and maintained in the employee file and in the board/committee meeting minutes. Compensation for other officers and key employees is determined by the president & ceo using comparability data from similar sized nonprofits in the region.”

“The organization makes its governing documents, conflict of interest policy, and financial statements available to the public upon request. In addition, the financial statements are made available on the organization's website (www.peoplefund.org).”

“The process has not changed since last year.”