Post Road Foundation

“The form 990 is prepared by the external accountants and reviewed by management. Revisions, corrections, etc. Are made as necessary. Once all are satisfied with the form, it is finalized and a copy is sent to all board members for review and approval prior to filing.”

“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 organation will enter into the transaction.”

“Annually the board conducts a performance review and evaluation of the president/ceo. 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 compensations surveys. The boards's deliberations and decision is noted in the minutes of the meeting.”

“The organization makes its governing documents (articles or 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 office during normal business hours. The organization charges for the copies in accordance with irs regulations.”

“The foundation board adopted whistleblower and record retention policies at their board meeting on september 23,2020.”

“Other professional services: program service expenses 202,535. Management and general expenses 65. Fundraising expenses 0. Total expenses 202,600.”

“There have been no changes in the process from the prior year.”

“The foundation has elected to adopt the financial accounting standards board's accounting standards update (asu) no. 2018-08 - not-for-profit-entities (topic 958): clarifying the scope and accounting guidance for contributions received and contributions made. Accordingly, deferred revenue in the amount of $219,544 was recorded as of 12/31/2019 as a conditional grant advance liability.”