First Resort

“The organization does not have a committee with authority to act on behalf of the governing body.”

“Form 990 is prepared by our outside auditor. Following the completion of a draft of the audited financial statements and a draft of form 990, the outside auditor meets with the full board of directors to review the finanical statements and form 990 to assure that all representations and answers to issues, comments and questions are accurate.”

“The organization's conflict of interest policy, which each director is required to read and acknowledge in writing, requires each director and other interested parties to promptly disclose the existence of a financial interest in connection with any actual or possible conflict of interest involving the organization. At each board meeting prior to voting on any issue, board members identify any conflict of interest in existence with regard to the item being voted on and the interested party abstains from voting where a conflict of interest exists.”

“The organization's board of directors sets compensation for the executive director (ed). The board performs an annual review of the performance of the ed. The board also gathers input for setting the ed's compensation from local nonprofit compensation surveys, from form 990s of similar organizations in their service area, and from compensation information received from member industry associations. The deliberation and decision regarding the ed's compensation is contemporaneously documented in the minutes of the board of directors. The ed is responsible for setting the compensation of other employees through salary information received from similar sources as used in setting the ed compensation. The employee compensation decision is documented in the applicable employee's payroll file.”

“The organization makes its governing documents, conflict of interest policy, and financial statements available to the public upon request.”

“The organization's audit committee has responsibility for oversight of the audit of its financial statements and selection of the independent auditor. This responsibility is unchanged from the prior year.”