A New Leaf

“Board members frank bennett and anne bennet-perez have a family relationship.”

“The form 990 is prepared by the independent certified public accounting firm who conducted the financial statement audit and is then presented to the cao and the ceo of a new leaf for their review and discussion. Once approved by the cao and ceo, the form 990 is distributed to the board of directors prior to filing with the irs.”

“All members of the board of directors and key leadership staff complete conflict of interest forms as required under a new leaf, inc.'s conflict of interest policy. The organization's management team monitors compliance with policies and use of vendors, agencies, professionals or other outside organizations to ensure compliance with policies. Board members recuse themselves from discussion or votes when potential conflict of interest arise. Board members annually complete a disclosure of conflict of interest statement which is maintained by the governance committee and the ceo and forwarded to any government agencies which require such disclosure.”

“The ceo's salary is determined annually by the executive committee of the board of directors in conjunction with an annual performance review. The executive committee considers comparative market data for similar positions in comparable organizations in setting the annual salary for the ceo. The ceo follows a similar process in setting the salaries of key employees and officers of the organization with annual performance reviews and analysis of market data for similar positions in comparable organizations. The board of directors approves the salaries of key employees and other officers in the budget approval process for the organization.”

“A new leaf, inc.'s form 990 and audited financial statements are posted on the organization's website. A public copy of the form 990, the conflict of interest policy, and other governing documents are available upon request at the organization's administration office during regular business hours.”

“Gain on investment in subsidiaries 791,303. Change in fair value of perpetual trust 7,889. Excess of assets acquired over liabilities assumed of affiliate 13,616,286.”

“This process has not changed from the prior year.”

“On may 31, 2024, leaf became the sole member of homeward bound, an arizona nonprofit corporation. Homeward bound provides emergency and transitional housing and community outreach services which are similar to the program activities of leaf. There was no consideration transferred in the acquisition transaction. The amounts recongized at fair value at the time of acquisition for the assets acquired and liabilities assumed are recorded as excess of assets acquired over liabilities assumed in the amount of 13,616,286 and are recorded as other changes in net assets.”