Relay Resources Enterprises

“After review by the cfo, form 990 is provided to the finance and audit committee of the board for review and questions. The final version is available to the board prior to filing.”

“The board members are identical to that of a related organization, relay resources. The conflict of interest policy is a policy of that organization, as follows: compliance with the conflict of interest policy is consistently monitored by requiring annual statements from all board members, officers, key employees, and supervisors. The board determines whether a conflict exists and, in the case of an existing conflict, whether the contemplated transaction may be authorized as just, fair and reasonable to relay resources enterprises. The decision of the board on these matters will rest in their sole discretion, and their concern must be the welfare of relay resources enterprises and the advancement of its purpose. The board chair, in consultation with the chief executive officer, is authorized to modify the disclosure requirements of the conflict of interest policy. Transactions with parties with whom a conflicting interest exists may be undertaken only if all of the following are observed: (1) the conflicting interest is fully disclosed (2) the person with the conflict of interest is excluded from the discussion and approval of such transaction (3) a competitive bid or comparable valuation exists and (4) the board, or duly constituted committee thereof, has determined that the transaction is in the best interest of the organization. Disclosure is made to the chief executive officer (or if she or he is the one with the conflict, then to the board chair), who shall bring the matter to the attention of the board chair, or a duly constituted committee of the board. Disclosure involving directors are made to the board chair (or if she or he is the one with the conflict, then to the board vice chair), who shall bring these matters to the board, or a duly constituted committee thereof.”

“The governance committee of the board of directors reviews the ceo goals, succession plan, performance and compensation. Compensation changes are recommended by the committee to the full board. The board of directors votes on the committee's recommendations. The other officer (cfo) and key employee (vice president) positions are reviewed for performance and compensation by the ceo. All other positions are reviewed for performance and compensation by various levels of management, including the ceo.”

“The organization's governing documents, conflict of interest policy and financial statements are all made available to the public upon request.”

“Following a review of the food co-packing business performance, the decision to discontinue operations was made and approved by the board of directors in august 2019. The food co-packing unit had experienced underperformance in sales, operations, and job growth resulting in a shift to eliminate the equipment intensive food co-packing operations. The focus turned to growing hand packing and kitting jobs in the supply chain solutions business operations to better align with relay's mission to grow the number of jobs for people with disabilities and other barriers to employment. Between july 2019 and december 2019, the business unit wound down operations and ceased food co-packing activity in january 2020. Over the course of the year ending june 30, 2020, the assets from the business unit were either sold, held for sale, or transferred to other operating segments in the organization.”

“Relay resources enterprises does not file any form w-2's directly. Employees working within relay resources enterprises share a common paymaster with the related entity relay resources for payroll-related records. Relay resources reports the total number of w-2's filed and does file all related federal employment tax returns. Relay resources enterprises reimburses relay resources for all employee compensation.”

“Bad debt recoveries from prior year 2,519. Audit adjustment 8.”