Cfs Self-Directed Supports Inc

“The sole member of the organization is the center for family support, inc., a related 501(c)(3) organization.”

“As the sole member of the organization, the center for family support, inc. Has the right to elect the members of the organization's board of directors.”

“Certain governance decisions require member approval.”

“A copy of the 990 is reviewed and approved by the chief financial officer and director of finance and then provided to the audit and finance committee of the board of directors for review and approval. After approval, a copy is provided to the board of directors for comment and review prior to its filing.”

“There is an annual review of the policy with board members, executive personnel, managers, employees, and independent contractors. All employees complete conflict of interest disclosure statements at time of hire and annually thereafter. They are reviewed by the human resources department and conflicts are disclosed to the compliance officer.”

“The organization does not compensate any officers or key employees.”

“The organization makes its governing documents, conflict of interest policy, and financial statements available to the public upon request.”

“COMPENSATION REPORTED ON PART VII FOR LINDA CLOSS IS FOR HER POSITION AS DIRECTOR OF COMMUNITY SERVICES for calendar year 2023 AT THE CENTER FOR FAMILY SUPPORT, INC. SHE BECAME CHIEF PROGRAM OFFICER EFFECTIVE 1/8/2024.”

“CFS Self-Directed has adopted the Financial Accounting Standards Board (FASB) Accounting Standards Codification (ASC) 326, financial Instruments - Credit Losses, model in its financial statements for the year ended June 30, 2024. CFS Self-Directed adopted the standard effective July 1, 2023, utilizing a cumulative-effect adjustment for all financial assets measured at amortized cost. As a result of the adoption, CFS Self-Directed recorded a transition adjustment, which included a $101,300 adjustment to the allowance for credit losses for accounts receivable, which is presented on the statements of financial position as a reduction to the total amount of those assets. In addition, the transition resulted in a decrease of $101,300 to the beginning net asset balance as of July 1, 2023, which represents the cumulative effect of adopting FASB ASC 326.”