Tec Centro Workforce Network

“Once complete, the form 990 will be e-mailed to the finance committee of the board. The finance committee will review the form 990 and recommend it for approval at a subsequent board meeting. The board will also have received a copy prior to the board meeting and submission to the irs.”

“The organization has a conflict of interest policy that is included as part of the employee handbook. The policy dictates no board members or employees may be involved in a transaction in which they have a substantial interest. The organization is currently in the process of updating its conflict of interest policy which will include having officers and key employees sign an annual conflict of interest questionnaire. All officers and key employees are currently required to notify the board of directors of any family or business relationships. The board acts as a whole in monitoring and enforcing the conflict-of-interest policy.”

“The organization provides the financial statements, governing documents and conflict of interest policy upon request.”

“In june 2025, the network was the victim of a sophisticated fraud scheme involving a fictitious vendor. An unidentified third party fraudulently impersonated the director of an affiliate center and submitted a request to the network to update the primary bank account designated for reimbursements to the center. The attackers were well-rehearsed and utilized convincing forged signatures along with confidential banking information to satisfy existing verification protocols. As a result, network personnel inadvertently transferred funds totaling $78,108 to a fraudulent account. No state funding received from the contract under audit or other state funding sources was affected by this incident. The fraud was enabled by a highly convincing impersonation and the absence of direct verification protocols for bank account change requests. The fraudulent request mirrored routine business procedures and met existing verification standards, making it difficult to detect under normal operating conditions. At the time, the network did not require a secondary verification step, such as verbal confirmation, for changes to banking information. The network incurred a financial loss due to the unauthorized transfer; however, the network has been able to replace these lost funds using unrestricted contributions from other sources. The network has begun to implement procedures and controls to prevent future occurrences.”