World of Change

“The Board of Directors of World of Change reviews the Form 990 in detail and makes a recommendation for approval. The Form 990 is filed with the IRS after Board review and approval.”

“All officers and directors are required to disclose any actual or possible conflicts of interest. Each director, principal officer, and member of a committee with governing board delegated power annually signs a statement affirming s/he has received a copy of the conflict of interest policy, has read and understands the policy, has agreed to comply with the policy, and understands World of Change is a charitable organization that must engage primarily in activities which accomplish one or more of its tax-exempt purposes in order to maintain its federal tax exemption. To ensure World of Change operates in a manner consistent with charitable purposes and does not engage in activities that could jeopardize its tax-exempt status, periodic reviews of compensation arrangements, partnerships, joint ventures, and arrangements of management organizations are conducted to ensure all transactions are reasonable and there is no impermissible private benefit.”

“The Chief Change Maker's compensation is derived by reviewing compensation of other individuals with similar positions within associations and nonprofit organizations of a similar size, scope, and purpose. In addition, compensation is compared against state averages of individuals with similar educational background and length of experience.”

“World of Change provides copies of its governing documents, conflict of interest statement, and financial statements upon request.”

“IRS instructions for Form 990 stipulate that the filing organization must disclose compensation paid to its officers, directors, key employees, and highest compensated employees based on the calendar year ending within its fiscal year. The Organization has a fiscal year ending October 31, 2017 which contains a calendar year ending December 31, 2016. As the Organization's operations did not significantly commence until January 2017, it paid no compensation to any individual listed in Form 990, Part VII. In accordance with IRS instructions, the Organization is not listing any compensation information for any individual listed in Part VII. This information will be disclosed on its 2017 Form 990 filing for the fiscal year ending October 31, 2018.”

“IRS instructions for Form 990 stipulate that the filing organization should report the number of 1099s filed as well as the total number of individuals employed by the organization for the calendar year ending within its fiscal year. The Organization has a fiscal year ending October 31, 2017 which contains a calendar year ending December 31, 2016. As the Organization's operations did not significantly commence until January 2017, it had no employees and was not required to file 1099s during 2016. In accordance with IRS instructions, the Organization is not listing any amounts in Form 990, Part V, Lines 1 or 2.”

“The Organization has no separate committee with oversight authority over the Organization's financial statement review. However, the Organization's board chair and treasurer assume oversight responsibilities and then share their comments and review with the full board.”