Farestart

“A draft copy of the form 990 is reviewed by the executive director and the chief finance officer prior to the tax return being completed by the outside cpa. A copy of the final form 990 is provided to the board of directors via email prior to filing the tax return.”

“The organization does not allow members of the board of directors who have conflicts of interest related to a specific issue to vote on that issue.”

“The executive committee completes a 360-degree performance review and uses an outside survey source (the united way of king county salary survey of non-profits) for the region. The committee then discusses the performance of the executive director and decides on the salary as a group. The executive director does not participate in these discussions or decisions. The executive committee then meets with the executive director to discuss the performance evaluation and the salary adjustment.”

“All other employees participate in an annual and mid-year review and calibration process. Feedback is sought from direct reports and peers and salary increases are based on merit and market analysis.”

“The organization makes its annual audited financial statements and form 990 available to the general public on its website. All other documents, such as: conflict of interest policy; organizational documents; form 1023; and interim financial information, are made available at the organization's administrative office upon request.”

“Farestart provides a community that transforms lives by empowering homeless and disadvantaged men, women and families to achieve self-sufficiency through life skills, job training and employment in the food service industry.”

“In 2006, farestart financed the construction of a 33,000 sq. Ft. Facility through the use of a capital campaign, new markets and historic tax credit funding and state funding. On 12/31/12, the new markets tax credit was unwound resulting in farestart being the sole owner of farestart properties, llc. This unwind event resulted in changes in the following categories from 2012 to 2013: part i, line 10: reduction in investment income related to 2012 unwind part i, line 11: one-time revenue entry of 5,000,000 in 2012 to recognize benefit of cancelling tax credit related debt. In 2013, farestart received a 1,500,000 grant to redistribute through the national network. This grant was awarded in 2013 and will be distributed in 2014 and 2015 and has the following impacts on reporting: part x, line 3: increase in grant receivable part x, line 28: increase in temporarily restricted net assets part xi, line 9: increase in other changes in net assets in 2014, these funds will be distributed, recorded as expenses, and the above effects will be reversed.”

“Education program in partnership with youthcare with 92% of youth graduates gaining employment or pursuing education. Farestart's kitchens produced and served more than 675,000 meals to those in need in our community, including area shelters and low-income day care centers and schools. Through our national network, catalyst kitchens, we worked with 50 member programs that provide job training to individuals with barriers to employment across the u.s., canada, and united kingdom.”

“Loss on asset disposal 756 loss on asset disposal -756”

“Net unrealized gains on investments 11,058 incr in temporarily restricted activities 1,600,743”