Open Arms Inc

“The form 990 is submitted first to the finance committee. Once the finance committee approves the 990, it is emailed to all board members.”

“The board adopted a comprehensive ethics policy that was modeled on a policy recommended by the irs. All board members are required specifically to declare in writing any potential or existing conflicts of interest. The staff handbook, which all staff members read upon employment and which is made available for review at any time, includes a policy requiring staff members to declare any conflicts of interest. All policies require that certain steps are taken to avoid the conflict when one exists.”

“Each year, the president appoints the human resources committee chair to conduct a review of comparable pay data from other similar organizations and to evaluate executive compensation. The president then makes a recommendation on executive compensation to the executive committee, which then decides on the executive director's compensation for the year. The executive director's compensation is then reviewed with the full board of directors in an executive session.”

“Open arms makes its governing documents, policies on conflict of interest, and financial statements available to the public upon request. In addition, the organization publishes the financial statements for the previous year in its annual report which is posted on the organization's website and distributed to donors and interested parties.”

“The net economic benefit from our annual Luncheon is calculated as follows:Contributions from fundraising event reported on Part VIII, line 1c $ 391,427Gross Income from fundraising event reported on Part VIII, line 8a 35,869Less: Direct costs of event reported on part VIII, Line 8b (35,869) Net economic benefit of fundraising event $ 391,427”