Financial Hope Collaborative

“The form 990 is reviewed by the Executive Director and President. Prior to the form 990 being filed with the Internal Revenue Service, it is provided to the Board of Directors for review.”

“The Conflicts of Interest Policy is reviewed annually by the Board at a regularly scheduled board meeting.”

“The Board of Directors (or a Board Committee) shall review any compensation packages (including all benefits) President and other officers of the organization, and shall approve such compensation only after determining that the compensation is just and reasonable. This review and approval shall occur when such officer is hired, when the term of employment of such officer is renewed or extended, and when the compensation of such officer is modified, unless the modification applies to substantially all of the employees of this corporation.”

“No documents available to the public.”

“Financial Hope Collaborative (FHC) utilizes a Professional Employer Organization (PEO) to provide payroll administration, benefits, and HR support. All of the FHC's staff are common law employees of the Organization, although their wages, benefits, and employment taxes are processed and remitted by the PEO. In accordance with the IRS Form 990 Instructions (Glossary, definition of "Employee"), individuals who are common law employees of the Organization are reported as employees of the Organization for purposes of Part I, Line 5, Part VII (Compensation of Officers, Directors, Key Employees, etc.), and Part IX (Statement of Functional Expenses), regardless of whether the compensation is paid through a PEO. Compensation amounts reported in Part VII and Part IX include gross wages, benefits, and payroll taxes paid through the PEO for the services of the FHC's common law employees, consistent with the Form 990 instructions. With respect to Part V, Lines 1a and 2a: Although the PEO files federal employment tax returns (Forms 941, 940, W-2, etc.) under its own EIN as the "employer of record," the Organization has confirmed that all required employment tax returns have been timely filed and all employment tax obligations satisfied.”

“The transfer from Creighton represents unspent unrestricted grant funds received between 2009 and June 30, 2024. Revenues and expenses from unrestricted grants funds were not tracked at a grantor level of detail for those years. Funding was sent through Creighton's Development Office and deposited into Creighton's bank account. Creighton's Grants Accounting Department tracked all revenue and expense for the FHC's unrestricted funds through a sub-account on a commingled basis, carrying forward any aggregated unspent balances from year to year. Two restricted grants were accounted for in separate FHC sub-accounts and were fully spent, so they were not part of the transfer. Creighton was FHC's fiscal agent for all the grants it received during this timeframe.”