Wheat Ridge Ministries

“The Executive Committee is composed of the Board Chair, Vice Chair, and Secretary as well as the Chairs of Board Standing Committees. The Board Chair serves as Chair of the Executive Committee. The Executive Committee may act on behalf of the Board in all matters delegated to it by specific action or by policy of the Board. Actions of the Executive Committee are reported in writing to the Board at the next meeting of the Board.”

“The Director of Finance role is filled by representatives of Vector CFO, which provides permanent part time CFO services to the organization. During the year Matt Croll and Ronda Bischoff were the representatives of Vector CFO. Compensation paid to the firm totaled $96,000 for the calendar year.”

“We Raise Foundation's Form 990 is prepared by an independent CPA firm. The Director of Finance reviews in detail the Form 990. Then a copy is provided to the Audit & Finance committee to review. After their review, the Audit & Finance Committee makes a recommendation to the Board of Directors to approve the Form 990. The Board of Directors reviews and approves the Form 990 before it is filed.”

“Annual conflict of interest forms are completed by all board members and officers. Transactions with officers, directors and key employees are deliberately avoided. Should any potential conflicts of interest be disclosed, the board member or officer would be asked to refrain from participation in any deliberation or decision with regard to matters affected by the relationship.”

“The process of determining compensation includes all of the following elements: 1. Review and approval: The compensation of the President is reviewed annually and approved by the Board of Directors or Executive Committee of the organization, provided that persons with conflicts of interest with respect to the compensation arrangement at issue are not involved in this review and approval. The compensation for all other employees is reviewed annually by the President/CEO. 2. Use of data as to comparable compensation: The compensation of the person is reviewed and approved using comparable compensation data for similarly qualified persons in functionally comparable positions at similarly situated organizations. 3. Suitable documentation and recordkeeping: There is suitable documentation and recordkeeping with respect to the deliberations and decisions regarding this compensation agreement.”

“The organization makes its financial statements available to the public through the organization's website. The organization does not make its governing documents or conflict of interest policy available to the public at this time.”

“Other fees: Program service expenses 205,191. Management and general expenses 33,520. Fundraising expenses 119,665. Total expenses 358,376.”

“In accordance with the principles of FASB ASU 2016-14 (ASC 958), the organization has implemented required changes to its audited financial statements for the period ended 6/30/2019. To date, Form 990 and its associated schedules have not been updated to reflect changes made by this standard. Thus, we have reported the revised net asset categories from the audited financial statements as follows on Form 990, Part X, Lines 27-29: Line 27 - Net assets without donor restrictions $ 6,644,513 Line 29 - Net assets with donor restrictions $ 4,269,487 Total net assets $10,914,000”

“Change in value of funds 136,347.”

“The organization's Board assumes responsibility for oversight of the audit of its financial statements and selection of its independent accountant. This process has not changed since the prior year.”