Working Solutions Cdfi

“Mike vanecek, an employee with the mortgage capital development corporation (an affiliated, but not related, 501(c)(4) organization for form 990 purposes) provided cfo services during the 9/30/2018 fiscal year; these services were performed pro-bono.”

“Working solutions cdfi amended its articles of incorporation in may 2019 to change its legal name from "tmc development working solutions" to "working solutions cdfi". Additionally, the organization amended its bylaws during the 9/30/2018 fiscal year to remove the titles of "president and "vice president" of the board as officers, and added the role of "vice chair" of the board as an officer. Additionally, the bylaws were amended to clarify that in the absence of a chief executive officer, the chair of the board shall, subject to the control of the board, have general supervision, direction and control of the business and of other officers and employees of the corporation; likewise, in the absence of a chair of the board, the vice chair shall perform all duties of the chair.”

“A draft form 990 is prepared by an outside tax professional in conjunction with the organization's finance and accounting staff. The draft form 990 is then reviewed by the finance and accounting staff, as well as the organization's ceo; adjustments are made, as necessary. The final version of the form 990 is then made available to all members of the organization's voting governing body prior to filing with the internal revenue service.”

“The board of directors reviews all potential conflicts of interest at least annually. All personnel and board members are required to disclose potential conflicts and any related party affiliations. Loans between the organization and members of management and the board are strictly prohibited. The organization seeks full transparency on all relationships. Any potential conflicts (in fact or appearance) are discussed openly and resolved in accordance with the organization's policies and procedures, which includes recusal from the decision making process by the conflicted individual.”

“The board of directors reviews the compensation of all high-level personnel annually in accordance with irs rules and regulations. Efforts are made to secure compensation data from industry sources in order to determine competitiveness and appropriateness of salaries. Every effort is made to ensure that the process is thorough and transparent in accordance with irs guidelines and the organization's policies and procedures. Form 990, part vi, section b, line 15b has been marked as "no" (as mandated by the form 990 instructions) as the organization did not compensate any additional officers or key employees, by definition of the form 990 instructions.”

“All of the organizations governing documents, financial statements, and other legal filings are maintained in a secure environment and held available for inspection by tax authorities and the general public upon request.”