Capital & Main

“Capital & main's cpa firm prepares the form 990. The information return is reviewed and approved by the organization's controller or cfo and ceo. The voting members of the board receive a complete copy, including all schedules, prior to filing with the irs.”

“Capital & main requires all officers, directors and employees to disclose, at least annually, all potential or actual conflicts of interest. Determining whether a conflict of interest exists. After disclosure of the financial interest and all materials facts, 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 or committee members decide if a conflict of interest exists. Procedures for addressing the conflict of interest. A) an interested person may make a presentation at the governing board or committee meetings, but after the presentation, he/she shall leave the meeting during the discussion of, and the note on, the transaction or arrangement involving the possible conflict of interest. B) the chairperson of the governing board or committee shall, if appropriate, appoint a disinterested person or committee to investigate alternatives to the proposed transaction or arrangement. C) after exercising due diligence, the governing board or committee shall determine whether the organization 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. D) 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 organization's best interest, for its own benefit, and whether it is fair and reasonable. In conformity with the above determination it shall make its decisions to whether to enter into the transaction or arrangement. Periodic reviews. To ensure the organization operates in a manner consistent with charitable purposes and does not engage in activities that could jeopardize its tax-exempt status, periodic reviews are conducted. These reviews consider whether compensation arrangements and benefits are reasonable; and whether partnerships, and joint ventures, and arrangements with management organizations conform to the organization's written policies, are properly recorded, reflect reasonable investment or payments for goods and services, further charitable purposes and do not result in inurement, impermissible private benefit or in an excess benefit transaction.”

“Capital & main's board of directors has a process for reviewing and approving the compensation of the executive director on a regular basis to determine it is fair and reasonable with the goal of retaining employees at compensation levels within appropriate market range. The process for determining the compensation paid to the executive director includes the approval of the compensation arrangement in advance, by the board of directors, with all persons with a conflict of interest abstaining from the board's deliberation and discussion. The board reviews data of comparable compensation for similarly qualified nonprofit executives at similarly situated entities. The documentation of the board includes the terms of the transaction and the date of approval, the members who were present during the debate and vote on the transaction, a description of the comparable data and how it was obtained, and documentation of the basis for the determination.”

“Some or all of these items maybe available upon request.”

“Consulting services: program service expenses 627,917. Management and general expenses 15,509. Fundraising expenses 34. Total expenses 643,460.”