Penn Hillel Foundation

“Form 990 was prepared by the outside cpa firm, reviewed by the management of the organization, and reviewed and approved by the organization's board of directors prior to filing with the irs.”

“The organization requires each director, officer and key employee to complete an annual conflict of interest statement, certifying whether a conflict of interest exists and signing the certification. The certifications are reviewed by the board and management and exceptions are followed up with the specific individual. The board shall determine whether the organization can obtain with reasonable efforts a more advantageous transaction or arrangement from a person that would not give rise to a conflict of interest. If a more advantageous transaction or arrangement is not reasonably possible under circumstances not producing a conflict of interest , the board will assess the current conflict relative to the benefits to the organization. If the exception is not deemed to be significantly detrimental to the organization, the board has the latitude to allow the arrangement to continue and for the individual to maintain their status on the board of directors. If the conflict of interest is deemed significantly detrimental to the organization, the board will take appropriate disciplinary and corrective action. If the board determines that an individual has failed to disclose actual or possible conflicts of interest, the individual will be notified and given the opportunity to explain the alleged failure to disclose. If after hearing the explanation and performing a further investigation, the board determines that if such person failed to disclose the conflict of interest, it will take appropriate disciplinary and corrective action. There were no actual or potential conflicts of interest because there were no business transactions or other financial arrangements with directors or officers. There were also no key employees for the fiscal year ended june 30, 2022.”

“FURNISHED UPON REQUEST.”

“The organization has not yet adopted a whistleblower policy and a document retention policy. The board of directors intends to adopt both policies in the very near future. It is anticipated that both policies will be effective retroactively.”

“The organization has a committee that assumes responsibility for oversight of the audit and selection of an independent accountant.”