First Peoples Fund

“The organization's president and attorney review a draft of the form 990 prepared by the third party accountant prior to filing. Once all requested revisions have been made, the president will approve the draft for filing. A final copy of the filed form 990 is provided to the executive committee for sign-off and approval. The finalized return is copied to all board members when filed with the irs, with such filing typically occurring 30-45 days before the next regular meeting of the board at which time the as-filed form 990 is on the agenda and approved along with the report to the minnesota attorney general.”

“The organization's board members and president are subject to a coi policy that requires decision making on any transaction that would affect their material financial interest to be affected only by action of the entire board, with only directors who are independent of the party participating in the action, and with notice of the conflict/subject given in advance. The executive committee administers the policy by ensuring each affiliated person of the organization signs a conflict of interest statement annually. Questions of whether an individual has a conflict/material financial interest are decided by the board, not including in such deliberations (or vote) the party whose potential conflict is at issue.”

“The board of directors reviews the president's salary annually and analyzes based on the president's performance review in conjunction with comparable positions for non-profit organizations registered in the state of minnesota.”

“The organization makes its governing documents and financial statements available to the public upon request.”

“Communications/marketing: program service expenses 24,036. Management and general expenses 3,743. Fundraising expenses 1,908. Total expenses 29,687. Trainers and coaches: program service expenses 61,776. Management and general expenses 0. Fundraising expenses 0. Total expenses 61,776. Artist fees, stipend, and other: program service expenses 16,000. Management and general expenses 0. Fundraising expenses 0. Total expenses 16,000. Consulting fees: program service expenses 167,585. Management and general expenses 12,938. Fundraising expenses 15,987. Total expenses 196,510. Other professional fees: program service expenses 12,273. Management and general expenses 0. Fundraising expenses 0. Total expenses 12,273.”

“The audit committee of the organization selects the auditor annually and assumes responsibility for the oversight of the audit.”