Skills for Rhode Island'S Future

“The form 990 is prepared by the external auditors and reviewed by management and the board audit & finance committee. Once all are satisfied with the form, it is finalized and a copy is sent to all board members. At the subsequent board meeting, the external auditors present the 990 and board members are asked if they have any questions or comments. Revisions, corrections, etc. Are made as necessary. Subsequent to this aforementioned board meeting the form is submitted to the irs.”

“Each year the organization's conflict of interest policy is provided to all officers, directors and key employees. These people are asked to review the policy and sign a statement indicating that they understand the policy and have reported all potential conflicts during the past year in accordance with the policy and will report all potential conflicts during the coming year. All potential conflicts are evaluated by the board to determine if a conflict actually exists. In those instances where the potential transaction is a conflict, the board examines the transaction and a vote is taken (with those involved recusing themselves) as to whether the organization will enter into the transaction.”

“Annually the executive committee on behalf of the board conducts a performance review and evaluation of the chief executive officer. The review also establishes the individual's compensation for the following year. This process involves the evaluation of the individual and a review of compensation of comparable positions obtained from compensation surveys. The performance appraisal, which contains compensation is the record of the meeting. The chief executive officer establishes the compensation of the senior management team and reviews the performance evaluations and recommended compensation with the finance committee, although no vote of approval of the chief executive officer's decision is required. The agency management along with its board finance and audit committee also reviews comparable salaries of other nonprofits in the area and references annual surveys conducted by independent organizations (i.e. Third sector new england).”

“The organization makes its governing documents (articles of incorporation and by-laws), its conflict of interest policy and financial statements available upon request. The organization will mail copies upon request or provide copies to those who come to the administrative offices during normal business hours. The organization charges for the copies in accordance with irs regulations. The organization also maintains hard copies of its organizational documents, board meeting minutes and policies in a binder available for public viewing upon request.”