Eco-Cycle Inc.

“The executive committee shall be a standing committee empowered to act on behalf of the board between meetings, in emergency situations and as needed. All actions of the executive committee shall be confirmed by the full board at the next regularly scheduled meeting following executive committee action.”

“The form 990 is prepared by the organization's public accounting firm based on information provided by the management. Once a draft of the filing is available, the form 990 is sent to the finance committee and also made available to the governing body upon request.”

“On an annual basis, or as needed, the board is asked to review and disclose any potential conflicts of interest they may have. The organization has a form that details areas of potential conflict that they consider and fill in and then the board reviews whether anything listed (if anything), is a conflict of interest. Additionally, the board president and executive director actively monitor any concerns. If a concern were to be raised, the organization does have a mechanism by which the entire board can review, discuss and come to a determination on the concern. These deliberations are recorded in the meeting minutes. The conflicted person will not be permitted to participate in the transaction or decision if it is determined a conflict of interest exists.”

“The executive director's compensation is determined annually by the full board of directors as part of the evaluation process. First board members individually complete the evaluation form with numeric ratings and a narrative justification. The president of the board consolidates the ratings, recommends an overall rating and proposes compensation. The proposed compensation is based on the rating and is compared to similar positions on the annual colorado nonprofit salary and benefits survey. Final salary is approved or modified by vote of the board. Managers are reviewed by the executive director. A pay raise of up to 5% was approved by the board in 2018. Pay was last reviewed in 2020 for the executive director and in 2020 for the managers.”

“Eco-cycle makes its governing documents available upon request. The organization does not make its financial statements or conflict of interest policy available to the public.”

“Other services: program service expenses 1,744,572. Management and general expenses 37,471. Fundraising expenses 254. Total expenses 1,782,297. Contract services: program service expenses 78,159. Management and general expenses 23. Fundraising expenses 1,315. Total expenses 79,497. Payroll services: program service expenses 0. Management and general expenses 7,498. Fundraising expenses 0. Total expenses 7,498.”

“During the year ended june 30, 2020, eco-cycle entered into a 20-year lease for its land and buildings from the city of boulder in the amount of one dollar for the term of the lease. This lease is specifically for the purpose of the operation of the eco-cycle's programs. In accordance with generally accepted accounting principles for non-profit organizations, the use of land and buildings below fair market value was recorded as a contribution receivable at the inception of the lease. The value if the donated use of land and buildings was $6,643,523.”

“The process for the oversight of the audit and selection of an accountant has not changed from the prior year.”