Leadership Tomorrow

“The form 990 was prepared by the treasurer who is a cpa and regularly completes form 990s for clients. The treasurer reviewed the draft 990 with the executive director and finance committee. The executive director then uploaded the draft 990 to the private, board-members-only section of the leadership tomorrow website and notified all board members of its availability for review prior to filing. After filing, the public disclosure copy of form 990 is available to the general public on the leadership tomorrow website.”

“Specific duties of the executive committee include yearly evaluation of the executive director. A regional salary survey is used to benchmark compensation for the executive director. The executive committee meets independently of the executive director to discuss the executive director's performance relative to the position description and goals. During this meeting, the executive committee also considers input obtained from other board members, staff, and informed volunteers. Once a consensus is reached regarding performance, a similar discussion is held concerning compensation relative to salary survey information and budget constraints. The committee presents its recommendations, in an executive session without the executive director present, to the full board as part of the annual budget review and approval. The board chair (a member of the executive committee) then meets with the executive director to discuss and document strengths, weaknesses, and goals for the upcoming year. Compensation for the upcoming year is also discussed and documented at that time.”

“Governing documents are available upon request. Summarized financial statement information is published in the organization's annual report, which is available electronically on the organization's website and in print upon request.”

“The staff of leadership tomorrow includes the executive director, marketing and program coordinator, and senior leadership director. These three individuals receive their annual form w2 from the seattle metropolitan chamber of commerce. Leadership tomorrow reimburses the cost of its personnel, including compensation, payroll taxes and employee benefits, to the seattle chamber at cost.”

“Reconciliation of form 990 to internal financial statements: $ 15,538 revenue less expenses -form 990 (23,930) net unrealized loss on investments ---------- $ ( 8,392) decrease in total net assets -internal financial statements ----------”