Return Reference | Explanation |
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Form 990, Part VI, Section B, line 11b | The Form 990 is prepared by an independent CPA firm. It is reviewed in detail by the Executive VP, Vice President of Administration and legal counsel. The entire board receives a copy of the final 990 after it is filed with the IRS. |
Form 990, Part VI, Section B, line 12c | Officers and board members sign annual conflict of interest statements which are reviewed by the Executive VP. At board meetings, board members are reminded to abstain from voting on matters where they may have a conflict. |
Form 990, Part VI, Section B, line 15 | The organization uses a compensation study to determine and set the compensation for its officers. The organization's board of directors reviews and approves the compensation study and sets salary ranges for officers. The process is documented in the minutes. The final determination of compensation for the President is determined by the compensation committee (consists of four board members). The committee discusses the appropriate compensation given the board approved salary range, performance, and the organization's overall financial health. The President determines the final salary of the Executive VP based on the board approved salary range and the decision is documented. |
Form 990, Part VI, Section C, line 19 | The organization makes these documents available in accordance with applicable law. |
Form 990, Part XII, Line 2c | The SBA List Board assumes responsibility for oversight of the audit of its financial statements and selection of its independent accountant. This process has not changed since the prior year. |
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