Creative Armenia

“Form 990 is first reviewed by the chief financial officer. After the review, form 990 is then presented to the board at a meeting to seek any input. After having received feedback from the board, the chief financial officer then consults with the chief executive officer, accountant and bookkeeper to make any necessary changes. Once this process is complete, the board votes by majority to submit form 990.”

“In connection with any actual or possible conflict of interest, an interested person must disclose all material facts to the directors and members of committees with governing board delegated powers considering the proposed transaction or arrangement. The board actively monitors the organization's transactions and agreements, and flags for immediate discussion any real or perceived conflict of interest with intent to obviate such conflict in keeping with both the law and its own conflict of interest policies.”

“The board meets, in the absence of the compensated officer, to decide compensation of officers. It does so in a three-step process recommended by the irs, as outlined by the council of nonprofits. Leaning on reliable information regarding executive compensation for similar non-profit organizations (sources include guidestar, payscale, and charity navigator) and after an evaluation of the officer's experience and expertise, it suggests a fair salary for approval by the board.”

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

“The organization undertook a new program service activity during the year. Details of the fiscal sponsorship activity can be found on part iii, line 4a.”