Coachart Org

“Jason and zander lurie are siblings.”

“The form 990 is prepared by the organization's outside public accounting firm with input of information from management. A draft of the return is submitted to the organization and reviewed by the board treasurer before filing.”

“The conflict of interest forms and board commitment letters are signed annually at the beginning of the year and documents are reviewed. Board members recommit to their understanding and compliance by signing documents individually assuring they refrain from any participation in voting on such transactions.”

“The chairman of the board performs an annual performance review of the executive director's salary. Increases are based on compensation surveys of similar positions in southern california and are reviewed and approved by a committee of the board. The process for the executive director was last undertaken in 2018. The organization's other officers or key employees receive annual performance reviews with the executive director and compensation is established utilizing comparability data. The process for these individuals was last undertaken in 2018.”

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

“Other management fees: program service expenses 310,208. Management and general expenses 9,479. Fundraising expenses 4,575. Total expenses 324,262.”

“The process has not changed from the prior year. In march 2020, congress passed the paycheck protection program (ppp) under division a, title i of the cares act, authorizing loans to small organizations for use in paying employees that they continue to employ throughout the covid-19 pandemic and for rent, utilities, and interest on mortgages. Loans obtained through the program are eligible to be forgiven as long as the proceeds are used for qualifying purposes and certain other conditions are met. On april 24, 2020, the organization received a loan in the amount of $170,145 through the ppp. On june 11, 2021, the organization received a notice from the small business administration (sba) that the full amount of the loan was forgiven, and this forgiveness is presented separetly on the statement of activities. In january 2021, the sba announced a second draw of ppp loans for elgible entities. In march 2021, the organization was approved to receive an additional loan of $176,037 of ppp funds. Per t he terms of the loan, the full amount will be forgiven as long as loan proceeds are used to cover payroll costs and other specified non-payroll costs (provided any non-payroll costs do not exceed 40% of the forgiven amount) over a 24-week period after the loan is made, and employee and compensation levels are maintained. The organization complied with the above terms in order to qualify for full loan forgiveness. On may 6, 2022, the organization received a notice that the second draw loan has been forgiven in full, and this forgiveness is presented separetely on the statement of activities.”