Pride Industries

“Mike Ziegler, former CEO, served on the board for Teichert where Judson Riggs, Board Member, serves as CEO.”

“Board meeting minutes are maintained; sub-committee meetings minutes are not. Excluding the President/CEO and CFO compensation review and approval process, all sub-committee recommendations are referred to the board for official action.”

“The accounting department for PRIDE Industries consults with various departments in the compiling of the Form 990. In addition, a nationally recognized CPA firm consults on the preparation and review of the form. The CFO reviews and approves the data and completed form before providing it to the President/CEO and Board members for their review prior to filing.”

“Board members and officers are required to complete an annual disclosure form identifying business interests, employment relationships and property interests, and those of related parties. The President/CEO and Board Chair review the disclosures for potential conflicts of interest and consult legal counsel as necessary. The Board Chair may ask involved individuals to recuse themselves during discussions on any matter related to a potential conflict. No director shall vote on any issue involving a financial or personal conflict of interest, or participate in decisions in matters directly involving related parties. All key employees, including officers, are required to participate in annual training on the organization's Code of Business Ethics, which includes a discussion of conflicts of interest. Training compliance is monitored by electronic acceptance and acknowledgement of the policies within the Company's electronic training platform.”

“Salary surveys of benchmark jobs are used to determine wage ranges of key employees and executives. Market-available wage data, job performance, and current market conditions are used to determine appropriate compensation levels. PRIDE Industries and PRIDE Industries One, Inc. contract with a leading HR consulting firm to analyze the compensation of certain executives. PRIDE Industries and PRIDE Industries One, Inc.'s Board Compensation Committee reviews surveys from similarly sized nonprofit and for-profit organizations, taking into account relative factors including revenues, employee counts and competitive market position. The Board's Compensation Committee reviews and approves compensations for the President/CEO and CFO. The President/CEO and CFO are excluded from involvement in the process.”

“Audited financial statements, governing documents and conflict of interest policies are made available to the general public upon request.”

“Other Professional Fees: Program service expenses 318,240. Management and general expenses 972,515. Fundraising expenses 0. Total expenses 1,290,755. Indirect Contract Labor: Program service expenses 162. Management and general expenses 0. Fundraising expenses 0. Total expenses 162. Contract Disposal Services: Program service expenses 139,863. Management and general expenses -1,335. Fundraising expenses 0. Total expenses 138,528. Direct Contract Labor: Program service expenses 928,029. Management and general expenses 61,792. Fundraising expenses 0. Total expenses 989,821. Sub Contracts: Program service expenses 17,388,403. Management and general expenses -541,127. Fundraising expenses 0. Total expenses 16,847,276. Sub Contractor Exp Reimb: Program service expenses 1,596,136. Management and general expenses 0. Fundraising expenses 0. Total expenses 1,596,136. Sub Contracts Cust. Reimb.: Program service expenses 6,537,950. Management and general expenses 0. Fundraising expenses 0. Total expenses 6,537,950. Commissions Non-Payroll relate: Program service expenses 5,785,520. Management and general expenses 0. Fundraising expenses 0. Total expenses 5,785,520.”

“ASC 606 Adjustment -3,536,582.”

“During the year ended June 30, 2020, the organization adopted the new revenue recognition standard (Accounting Standards Codification 606, or ASC 606), which required the organization to record any prior year changes in revenue recognition as a change in opening net assets of the current year. In conformity with the new standard, the organization recorded a $3,536,582 decrease to opening net assets.”