Quest 4 Success

“The organization is governed by a Board of Directors consisting of five voting members, three of whom are independent.”

“The governing body and committees with delegated authority contemporaneously document all meetings and actions in written minutes, which are maintained as part of the official record.”

“Form 990 is prepared by an external accountant and reviewed by the organization's leadership before filing. A complete copy is provided to all members of the governing body prior to submission.”

“The organization maintains a written conflict of interest policy. Officers and directors disclose any potential conflicts annually.”

“The organization maintains a whistle blower policy to ensure transparency and accountability.”

“The organization follows a written document retention and destruction policy that complies with legal and operational requirements.”

“The organization makes Form 990 and governing documents available upon request, in accordance with IRS public disclosure requirements.”

“The organization makes Form 990, the governing documents, conflict of interest policy and financial statements available upon request, in accordance with IRS public disclosure requirements.”

“Board members serve voluntarily and receive no compensation for their governance roles. Collectively, board members contributed 11 hours per week to organizational and project leadership, oversight and compliance during the year. The Executive Director dedicated an average of 10 hours per week to program management, development and operations. These commitments reflect the organization's strong reliance on leadership service hours to achieve its mission.”

“The organization's leadership develops or reviews the job description, gathers comparability data from market salary research, develops a compensation report to be reviewed and approved by board members, conducts annual reviews and makes adjustments.”

“During the year, the organization received $700,000 Louisiana Housing Corporation (RRDP) grant funds, $26,761 CHDO Capacity grant from from City of Monroe Planning and Urban Development. All funds were restricted for specific program activities and recognized as revenue in accordance with the organizations accounting policies.”

“Negative Revenue less Expenses (-$23,717.00) reflects an awarded $100,000 reimbursable HOME ARP grant from the City of Monroe to be received next quarter”

“The change in net assets reflects ongoing construction activities and related expenses. Partnerships with Louisiana Housing Corporation, City of Monroe Planning & Development, and Cross Keys Bank represent a deliberate effort to expand affordable housing access and strengthen the organizations long term capacity to serve low income families.”