Innovative Future Collective

“Tonya fulkerson, director, & ashley kennedy, director & officer have a business relationship.”

“The organization has entered into a staffing, management, and fundraising services agreement with fulkerson kennedy & co. (fk&co). The agreement is structured as a standard independent contractor services contract and provides for compensation that does not exceed fair market value for the services rendered. Pursuant to this agreement, fk&co provides key operational, administrative, and fundraising support services to the organization. The compensation paid to fk&co during the tax year is reported on form 990, part vii, section b, schedule of compensation of independent contractors.”

“The 990 is shared with all board members and they have 48 hours to provide feedback before the form is filed.”

“Innovative future collective has a formal conflict of interest policy. Each director, principal officer and member of a committee with board of directors delegated powers signs a statement which affirms such person has received a copy of the conflict of interest policy, has read and understands the policy, has agreed to comply with the policy and understands the organization is a charitable organization and in order to maintain its federal tax exemption it must engage primarily in activities which accomplish one or more of its tax-exempt purposes. In connection with any actual or possible conflict of interest, an interested person must disclose the existence of the financial interest and be given the opportunity to disclose all material facts to the directors and members of committees with board of directors delegated powers considering the proposed transaction or arrangement. After disclosure of the financial interest and all material facts, and after any discussion with the interested person, he/she leaves the board of directors or committee meeting while the determination of a conflict of interest is discussed and voted upon. The remaining board of directors or committee members decides if a conflict of interest exists.”

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

“Administration: program service expenses 0. Management and general expenses 7,000. Fundraising expenses 0. Total expenses 7,000. Audio/visual: program service expenses 2,500. Management and general expenses 0. Fundraising expenses 0. Total expenses 2,500. Brand design: program service expenses 0. Management and general expenses 1,212. Fundraising expenses 0. Total expenses 1,212. Prof. Services: program service expenses 43,031. Management and general expenses 6,708. Fundraising expenses 17,340. Total expenses 67,079.”