Sammons Center for the Arts

“A draft of the 990 is reviewed by the finance committee. Once approved, the treasurer presents the 990 to the board, answers any questions, and then the 990 is approved by the board through a vote.”

“Newly elected board members are required to sign an acknowledgement form that they have read the policy and agree to abide by it. Each year the board reviews the policy, bylaws and guidelines that govern the board and the center and are asked to disclose any potential conlicts. Based on this annual review, the center is able to monitor and enforse compliance with the policy. Should a conflict come to light, the executive committee reviews the circumstances and decides on a course of action that is recommended to the board.”

“The board has a compensation committee which meets at the direction of the president of the board and includes the treasurer, president, and a third board member selected by the president. They review the current salary and benefits, assess compensation at similar local nonprofit organizations, and consider whether the executive director has effectively carried out her duties. They also consider whether the executive director has performed any significant task above and beyond the regular job description. After reviewing the financial state of the organization, a recommendation is made by the committee and the budget is revised accordingly.”

“All requests for review of the governing documents, conflict of interest policy, and financial statements are granted immediately either in person, by mail, fax or electronic means by the executive director or the assistant director. In addition, audited financial statements and bylaws are available through donorbridge and are updated annually.”

“The finance committe is responsible for oversight of the audit and selection of an independant accountant. This process has not changed since the prior tax year.”

“In prior years, schedule a part i - reason for public charity box 7 was checked which does not match the organizations irs determination letter. For the 2022 return box 10 is checked which matches the determination letter and is a better representation of the organizations activities.”