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FORM 990, PART VI, SECTION B, LINE 11B | FORM 990 IS PREPARED BY OUR OUTSIDE CPA FIRM IN CONNECTION WITH THE AUDIT OF OUR ANNUAL FINANCIAL STATEMENTS. FOLLOWING THE COMPLETION OF A DRAFT OF THE AUDITED FINANCIAL STATEMENTS AND FORM 990, THE OUTSIDE CPA FIRM MEETS WITH MANAGEMENT AND THE AUDIT COMMITTEE TO REVIEW THE FINANCIAL STATEMENTS AND FORM 990 FOR COMPLETENESS AND ACCURACY. CHANGES, AS APPROPRIATE, ARE MADE TO BOTH DOCUMENTS PRIOR TO THEIR ISSUANCE AND FILING. |
FORM 990, PART VI, SECTION B, LINE 12C | EACH BOARD MEMBER IS REQUIRED TO ANNUALLY FILE A STATEMENT OF ECONOMIC INTEREST WITH THE CITY CLERK OF THE CITY OF SANTA MONICA. VOTING BOARD MEMBERS WITH AN ECONOMIC INTEREST IN THE SUBJECT MATTER OF A BOARD VOTE ABSTAIN FROM VOTING ON THAT ISSUE. |
FORM 990, PART VI, SECTION B, LINE 15 | THE ORGANIZATION'S COMPENSATION COMMITTEE (SUBCOMMITTEE OF THE BOARD OF DIRECTORS) RESEARCHES AND RECOMMENDS THE COMPENSATION OF THE EXECUTIVE DIRECTOR. THE COMPENSATION COMMITTEE PERFORMS AN ANNUAL REVIEW OF THE PERFORMANCE OF THE EXECUTIVE DIRECTOR. THE COMPENSATION COMMITTEE ALSO GATHERS INPUT FOR SETTING THE EXECUTIVE DIRECTOR'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 EXECUTIVE DIRECTOR'S COMPENSATION IS CONTEMPORANEOUSLY DOCUMENTED IN THE MINUTES OF THE COMPENSATION COMMITTEE AND APPROVED BY THE FULL BOARD OF DIRECTORS. THE EXECUTIVE DIRECTOR IS RESPONSIBLE FOR SETTING THE COMPENSATION OF OTHER EMPLOYEES THROUGH SALARY INFORMATION RECEIVED FROM SIMILAR SOURCES AS USED IN THE SETTING THE EXECUTIVE DIRECTOR'S COMPENSATION. EACH EMPLOYEE'S COMPENSATION DECISION IS DOCUMENTED IN THAT EMPLOYEE'S PERSONNEL FILE. |
FORM 990, PART VI, SECTION C, LINE 19 | THE ORGANIZATION'S GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND AUDITED FINANCIAL STATEMENTS ARE AVAILABLE UPON REQUEST. |
FORM 990, PART XII, LINE 2C: | THE AUDIT COMMITTEE IS RESPONSIBLE FOR THE OVERSIGHT OF THE AUDIT, REVIEW OF THE FINANCIAL STATEMENTS, AND SELECTION OF AN INDEPENDENT ACCOUNTANT. THIS OVERSIGHT PROCESS IS UNCHANGED FROM THE PRIOR YEAR. |
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