Bmore Empowered Inc.

“Our board of directors follows a comprehensive review process for form 990 before its filed with the irs. First, i ensure our treasurer and executive director work together to gather all necessary financial and operational information needed for the forms completion. Once all information is compiled, we engage our qualified tax preparer to draft the form 990. After receiving the draft, i share it with all board members for their individual review before our scheduled board meeting. During our board meeting, we collectively examine the form 990s key sections, paying particular attention to our mission statement, program service accomplishments, governance policies, and financial data. We thoroughly discuss any questions or concerns raised by board members to ensure accuracy and completeness. Our review focuses especially on parts vi and vii regarding governance and compensation, making sure they accurately reflect our organizational practices and oversight. I document our review process in the board meeting minutes, including the date of review, members present, any significant discussions, and our final approval decision. If any corrections are needed, we work with our tax preparer to make the necessary adjustments before filing. We maintain a copy of the final form 990 in our permanent records and ensure its available for public inspection as required by law. Following submission, we make the form 990 accessible to our stakeholders through our states charitable registration portal, demonstrating our commitment to transparency and good governance. This thorough review process helps us maintain accountability and ensures accurate reporting of our nonprofits activities and finances.”

“As the board of directors for our small nonprofit with one paid employee and 5 volunteers, we handle the process of determining compensation carefully to maintain transparency and meet irs requirements. I work alongside my fellow volunteer board members to make compensation decisions, ensuring our paid executive director isnt involved in determining their own compensation. We conduct thorough research on compensation for similar positions at comparable organizations, considering factors like organizational size, geographic location, mission focus, and budget constraints. Our research includes reviewing nonprofit salary surveys, relevant job postings, form 990s from similar organizations, and salary reports from state nonprofit associations. I make sure we document our decision-making process thoroughly in our meeting minutes, including the date of our compensation review, which board members were present, what comparability data we used, the terms of the compensation package, any conflicts of interest, and our final vote or decision. We carefully test that the compensation is reasonable, ensuring its not excessive and aligns with our organizations budget, resources, and mission. Our evaluation considers the complete compensation package, including base salary, benefits, any bonuses or incentives, and other perks if applicable. To maintain good governance and protect our tax-exempt status, we conduct compensation reviews annually, updating our comparability data as needed and maintaining detailed records for at least three years. I ensure we document all changes or adjustments to compensation properly. This systematic approach helps us demonstrate responsible use of our charitable resources while meeting legal requirements and maintaining transparency in our operations. Even with just one paid employee, i understand this process is crucial as it establishes proper governance procedures and helps prevent any appearance of impropriety in the use of our nonprofit funds.”

“These documents are made available upon request.”

“The organization regularly monitors and enforces compliance with its policies through a structured approach. This includes routine staff training on compliance and regular policy reviews and updates.”

“Fiscally sponsored projectbmore empowered provides administrative and accounting support to nonprofit projects and organizations in baltimore city and the surrounding areas through fiscal sponsorship and fiscal management. Fiscal sponsorship provides the ability for projects to receive tax-deductible donations through our 501c3 tax exempt status. Summer campbmore empowereds girls empowerment summer camp is an all girls, summer camp located in baltimore, maryland. Our 3-week day camp provides a safe and nurturing summer environment for girls aged 9-17. Our camp empowers our girls through -self-esteem exercises -sisterhood -mindfulness activites -entrepreneurship-nature appreciation -s.t.e.a.m. -field trips with guest teachers, speakers, field trips and real life experiences, our girls explore the great city of baltimore while learning new life skills and building friendships with fellow campers. Women in business cohort the womens business cohort is a 6-month incubator program for 10 baltimore-based black women business owners. Sessions include -one-on-one mentoring with an existing black women business owner with regular meetings in-person or zoom -partnering with another cohort member for support and collaboration -crafting your business from these stages ideation- creation- launch. -self-care activities, mindfulness rituals, lifestyle guidance -financial education, -life-skills, business start-up procedures business plan, local regulations, and laws, local business resources -bi-monthly in-person sessions and bi-monthly virtual home assignments at the end of the 6 months, each participant will receive working capital to support their business operations web design, materials, professional services, etc.. The participants will invest a nominal fee to attend the program. Participants will partner up to present a free community workshop using the skills theyve received during the program.”

“Contractors 292,156 bmore empowered utilizes contracted services including but not limited to mentorship, wellness workshops, entrepreneurship training, program coordination, cleaning and maintenance support, technology/social support, marketing, wrap-around services for youth, legal and accounting services, therapeutic services.”

“The prior accounting team failed to make adjusting entries in qb to balance the net assets for 2022. Therefore, we are unable to provide the explanation you need to include on schedule o.”

“Bmore empowered incurs on behalf of its fiscally sponsored partner organizations, which are other nonprofit groups without their own 501c3 status. These expenses are specifically related to programmatic activities, administrative support, and operational costs necessary for the partner organizations to carry out their missions under bmore empowereds fiscal sponsorship. These expenses do not include any benefits or payments to officers, directors, trustees, or key employees of bmore empowered, and they do not involve any of the specific items listed in schedule j, part i, such as firstclass travel, companion travel, housing allowances, or personal services. Rather, they are program related expenditures and operational support strictly designated for the use and advancement of the partner organizations missions and activities.”