Finnegans Community Fund

“In january, 2018, the board treasurer along with the accounting assistant discovered a material diversion of funds while reviewing finnegans community fund's 2017 q4 financial statements. The diversion occurred on august 9th, 2017, when an amount of $20,000 was accidentally transferred from a finnegans community fund bank account to pay for an expense of an unrelated entity, finnegans sbc. The payment was able to be made because finnegans community fund's prior accountant worked with both entities. Finnegans community fund's board of directors held a meeting on january 24th, 2018 to discuss how the diversion occurred. The board of directors formally requested that the funds be immediately returned by finnegans sbc. When the return of funds was requested, finnegans sbc did not have enough cash to pay back finnegans community fund. The board of directors established a payment plan with finnegans sbc and $20,000 was returned in full prior to december 31, 2018.”

“The organization did not have any committees with authority to act on behalf of the board during the tax year.”

“The board of directors reviews form 990 prior to filing with governmental agencies.”

“The organization's conflict of interest policy covers members of the board of directors and officers. Covered members are required to disclose potential relationships for all transactions and supporting initiatives (including grants) undertaken by the organization. The board may authorize transactions in good faith after material facts are disclosed and where a quorum and a majority vote of the directors without counting the interested director is undertaken. Proceedings from potential or actual conflicts of interest are documented within meeting minutes or otherwise as appropriate. An annual disclosure form is required to be completed by all covered members.”

“The organization makes its articles of incorporation, conflict of interest policy and federal returns for the past three years available to the public upon request.”

“During 2018, finnegans community fund established a farmers market within the elliot park neighborhood to create an access point to local produce. The elliot park neighborhood has no grocery stores.”

“Volunteer coordinator: program service expenses 0. Management and general expenses 0. Fundraising expenses 2,587. Total expenses 2,587. Consulting: program service expenses 11,500. Management and general expenses 0. Fundraising expenses 0. Total expenses 11,500.”