Promise House Inc.

“Form 990 is reviewed by members of the finance sub-committee of the board of directors. The finance sub-committee recommends to the board of directors acceptance and filing of the report. The board of directors receive a complete copy of the form 990 via electronic mail prior to the board of directors meeting for their review. A record of the vote to approve the report is documented in the official minutes of the meeting.”

“Members of the board of directors, as well as key employees, review the agency's conflict of interest policy annually, disclosing and documenting interests with the potential for conflict of interest. Completed forms are reviewed by the executive sub-committee of the board of directors. The sub-committee develops and implements a plan of correction. Documentation and disclosure is required for each major purchase (in excess of $10,000) or service contract award to ensure potential conflicts of interest and/or related party transactions are identified and prevented. Executive-level staff as well as the executive sub-committee of the board of directors review this information, enacting safeguards as warranted to prevent conflicts of interest.”

“Members of the executive sub-committee of the board of directors perform an annual, written performance review of the executive director's performance. Recommended compensation, bonuses, and fringe benefits are reviewed in conjunction with the performance appraisal process. Compensation levels are benchmarked against local organization's of similar size and function, with an approved salary range established annually to reflect results of the benchmarking. Recommended compensation and benefit package are presented to the finance sub-committee of the board of directors for inclusion in the annual operations budget. The final budget is presented by the finance sub-committee of the board of directors for approval during the annual board of directors' meeting.”

“Audited financial statements, as well as the 990 report, are posted on the organization's website as well as the company's internal website. Governing documents and the conflict of interest policy are available to the public upon request.”

“Form 990 was prepared using preliminary financials since the financial audit is still in progress. Once the financial audit is completed, the return will be amended if there are significant changes.”