Momentum Advisory Collective

“A copy of form 990 is provided to the organization's governing body after filing.”

“The organization maintains a written conflict of interest policy covering the board of directors. Directors complete annual disclosure forms and report potential conflicts as they arise. Disinterested board members and officers review disclosures and any director with a conflict abstains from related discussions and votes. Procedures 1. Duty to disclose. In connection with any actual or possible conflict of interest, an interested person must disclose the existence of the financial interest and be given the opportunity to disclose all material facts to the directors and members of committees with board delegated powers considering the proposed transaction or arrangement. 2. Determining whether a conflict of interest exists. After disclosure of the financial interest and all material facts, and after any discussion with the interested person, the interested person shall leave the board or committee meeting while the determination of a conflict of interest is discussed and voted upon. The remaining board or committee members shall decide if a conflict of interest exists. 3. Procedures for addressing the conflict of interest. (a) an interested person may make a presentation at the board or committee meeting, but after the presentation, the interested person shall leave the meeting during the discussion of, and the vote on, the transaction or arrangement involving the possible conflict of interest. (b) the chairperson of the board or committee shall, if appropriate, appoint a disinterested person or committee to investigate alternatives to the proposed transaction or arrangement. (c) after exercising due diligence, the board or committee shall determine whether the corporation can obtain with reasonable efforts a moretransaction or arrangement from a person or entity that would not give rise to a conflict of interest. (d) if a more advantageous transaction or arrangement is not reasonably possible under circumstances not producing a conflict of interest, the board or committee shall determine by a majority vote of the disinterested directors present whether the transaction or arrangement is in the corporation's best interest, for its own benefit, and whether it is fair and reasonable. In conformity with the above determination, it shall make its decision as to whether to enter into the transaction or arrangement.”

“To ensure the corporation operates in a manner consistent with charitable purposes and does not engage in activities that could jeopardize its tax-exempt status, periodic reviews shall be conducted. The periodic reviews shall, at a minimum, include the following subjects: (a) whether compensation arrangements and benefits are reasonable, based on competent survey information, and the result of arm's length bargaining, (b) whether partnerships, joint ventures, and arrangements with management organizations conform to the corporation's written policies, are properly recorded, reflect reasonable investment or payments for goods and services, further charitable purposes and do not result in inurement, impermissible private benefit or in an excess benefit transaction.”

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

“Consulting and other prof fees: program service expenses 387,386. Management and general expenses 76,485. Fundraising expenses 50,929. Total expenses 514,800.”

“Restatement - unreleased fund to cafe momentum atlanta -517,000. Other adjustment 5,997.”