Student Basic Needs Coalition

“The Student Basic Needs Coalition (SBNC) follows a structured process to review its Form 990 prior to submission to the Internal Revenue Service. Upon completion of the Form 990 by SBNC's external accountant or preparer, a draft copy is provided to the organization's executive leadership for initial review. The Executive Director(s) thoroughly examine the form for accuracy, completeness, and consistency with the organization's financial records and operational activities. Following this internal review, the draft Form 990 is distributed to the Board of Directors for their review and comments. Board members are given sufficient time to review the document and ask questions or request clarifications regarding the content of the filing. Any comments or corrections identified by the executive leadership or board members are communicated back to the preparer for revision. Once all revisions are made, a final version of the Form 990 is circulated to the Board of Directors for approval prior to its submission. This process ensures that the Form 990 accurately reflects SBNC's financial information, program accomplishments, and compliance with applicable reporting requirements.”

“The Student Basic Needs Coalition (SBNC) maintains a written Conflict of Interest Policy that applies to its board members, officers, and key employees. The organization regularly and consistently monitors compliance with this policy through the following procedures: Annual Disclosure, Meeting Procedures, and Documentation.”

“The Student Basic Needs Coalition (SBNC) has a formal process in place to establish and review the compensation of its top management officials and key employees. This process is designed to ensure that compensation is reasonable and consistent with market standards for comparable positions. For the calendar year 2024, this process was used to determine the compensation of the following positions: Executive Director(s) The compensation-setting process includes the following elements: Review of Comparable Data: SBNC reviews compensation data from similarly-sized nonprofit organizations, including publicly available Form 990 filings and compensation surveys, to assess what is considered reasonable and competitive for comparable positions in similar geographic and programmatic contexts. Board Oversight and Approval: Compensation recommendations are presented to the Board of Directors (or a designated Compensation Committee, if applicable) for review and approval. Individuals whose compensation is being reviewed are not involved in the decision-making process regarding their own compensation. Contemporaneous Documentation: Minutes of Board or Committee meetings where compensation decisions are made are documented contemporaneously, including the data relied upon and the rationale for the decision. The last compensation review for SBNC's Executive Director(s) was undertaken in 2024.”

“Upon request we provide any of these documents to any individual or group looking for copies.”

“We received additional grants that had not been spent down yet.”