Her 2 Nd Chance Inc

“During 2020, no committees of the Board were formed. As in the past, all committee work was performed at the Board level.”

“The 990 was drafted by the Treasurer and reviewed with the independent auditor. Next the draft was then reviewed by the Executive Committee with all comments and suggested edits given consideration and incorporated as appropriate. The final draft was then provided to the remaining Board members for review and comment. The process culminated with unanimous Board approval to timely file the 2020 Form 990 during the granted extension period.”

“A search for an Executive Director was conducted through a professional recruiting firm to fill the role of our Founder. The process included a compensation analysis for not for profits of similar size. Compensation was set based on the analysis and the recommendation of the search firm. In addition, the compensation for the key position is compared to the data received from _______________ which is used as a general guide for the organization's decision making.”

“All governing documents are available upon request. The financials were not made available, but the 2019 Form 990 is posted on the organization's website. The 2020 audited financial statements will be posted on the website once complete.”

“During 2020, Keely Copeland, Founder and Director, performed various duties including the function of the Executive Director continuing through a transition period post hiring of an individual for that role. Ms. Copeland was compensated for her services performed in 2020 until her resignation in October, 2020. She did not receive compensation for her role as Director. No members of the Board of Directors are compensated.”

“SCI adopted a capitalization policy of $750 or greater for individual capital purchases. After reviewing prior year capitalized purchases, it was determined that none met the policy threshold. All prior capitalized items were fully depreciated in 2020. The 2020 equipment purchases did not meet the capitalization threshold and were expensed accordingly.”

“In 2019 the organization reported using the cash method for financial reporting when in fact the organization employed a hybrid cash and accrual accounting. In 2020, full accrual accounting was used for financial reporting. This is not a change in accounting method per se but a reflection of the change in the social enterprise business activity which is best reported on using the full accrual accounting method.”

“The organization does not have a committee providing oversight of the Independent Auditor. 2020 is the first year an audit was conducted. The Treasurer provided Board audit oversight while the Executive Director and the operations Manager gathered requested documents answering the questions as they arose though the testing process. Matters of accounting, policy, disclosures and financial presentation were administered by the Treasurer.”