Ability360 Inc

“The executive committee consists of the board chair, vice-chair, secretary, and treasurer. All members of the executive committee are on the board of directors. The ceo attends this committee's meetings as needed. The executive committee and board chair make decisions on behalf of the board when needed in a time-sensitive situation.”

“The form 990 is prepared by the organization's public accounting firm based on information provided by management. Once the draft is available, it is reviewed by management and the finance committee and any changes incorporated into the filing. Once this detailed review is complete, the draft of the form 990 is presented to the board of directors for their review and comments prior to filing with the irs.”

“Employees shall not engage in any conduct that gives the appearance of a conflict of interest, including but not limited to: - performing services for money or other personal gain for any supplier or vendor to ability360; - the employee's family member performing services for money or other personal gain for any supplier or vendor to ability360; - having ownership interests (such as stock) in a supplier or vendor to ability360; or - owing money (such as a loan) to a supplier or vendor to ability360. All employees shall avoid real or perceived potential conflicts of interest. All employees shall disclose any conflicts of interest to their supervisor. Whenever an employee has a question about a conflict of interest, the employee will raise this issue immediately with his/her supervisor. Any potential conflict of interest on the part of any member of the ability360 board of directors shall be disclosed to the other members and made a matter of record annually. In addition, should a conflict of interest arise after the annual reporting period, members shall disclose that interest to the other members when it becomes a matter of board action. Any board member having a potential conflict of interest on any matter shall not vote or use his/her personal influence on the matter and he/she shall not be counted in determining the quorum for the meeting. The minutes of the meeting shall reflect that a disclosure regarding a particular issue was made as well as the abstention from voting and the quorum situation. Each board member shall sign a conflict of interest statement annually. The governance/nominating committee and its chairperson are tasked with the monitoring and enforcing of the board coi policy. An explanation of the coi policy is provided in the new board member orientation offered to all new board members. Although no known coi's have been identified, if such existed, board members would be required to offer full disclosure of the coi and recuse themselves from any decisions pertaining to the known conflict (including voting privileges or exerting inappropriate influence).”

“The board engaged an hr consulting firm to conduct a compensation study for a new ceo before hiring, as well as to review and update the ceo employment contract. A compensation study by a consultant was performed upon the end of a 1-year term of the new ceo who was hired on 6/1/21. The new ceo received a five-year contract from 7/1/22-6/30/27 based on the compensation study performed. The board of directors then approved the compensation package recommended by the consulting firm. The process described here was last completed in 2022.”

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

“Change in value of beneficial interest 58,431.”

“The finance committee has responsibility for oversight of the audit of the financial statements. The finance committee consists of the executive director and 5 board members, who review quarterly financial statements, annual budget, and annual audit before information is submitted to the board. Finance committee also selects an independent accountant for the annual financial audit. The process of oversight of the financial statements, audit and selection of an independent accountant has not changed from the prior year.”