Congratulations on taking the time to assess the finances and operations of North Penn United Way. Donors are wise to investigate the management of organizations they support, along with their missions and programs. North Penn United Way takes its responsibility as a steward of donor contributions very seriously. United Way's Board of Directors, staff and other professional volunteers with expertise in financial management and governance have established fiscal controls to ensure the highest level of accountability and transparency in our operations.
Annual Audited Financial Statements: North Penn United Way has had a clean, unqualified financial audit for many years. Appropriate accounting safeguards are in place to ensure that no one employee has access to both physical assets and the related accounting records, or to all phases of transaction. Internal control procedures are regularly reviewed by United Way auditors and Finance Committee members. Download our FY 2015/2016 Audited Financial Statement.
IRS 990: Form 990 is the Internal Revenue Service (IRS)'s designation for the tax return that most public charities are required by law to submit annually. This form is used by the IRS to assess the non-profit organization for its compliance with tax. Information contained in the form includes a summary of the organization's activities, assets, receipts, expenditures, and compensation of directors, officers, and certain employees. Download our 2015 IRS 990.
Check signing: The board authorizes select Finance members and the executive director to sign checks. The Operations Manager prepares checks but is not authorized to sign checks.
Payroll: United Way contracts with a local payroll service to process paychecks and prepare tax reports and payments.
Board of Directors: United Way's Board of Directors meet multiple times per year and reviews and approves financial statements at every meeting.
Finance Committee: The Finance Committee, comprised of volunteers with expertise in financial management and governance, review and monitor the day to day fiscal operations of North Penn United Way, including reviewing the budget and annual audit. These volunteers meet multiple times each year.
Capital Purchases: It is standard practice to request at least three bids on all significant capital purchases.
Conflict of Interest: All board members annually sign a conflict of interest policy requiring them to disclose if they or someone related to them would benefit from any decisions made by the United Way Board of Directors.
Overhead: A vast network of volunteers involved in all aspects of United Way's operations has kept the North Penn United Way's overhead at a low 13%, which is consistent with the average overhead of United Ways of similar size throughout the country. This figure compares favorably to the suggested Better Business Bureau's recommendation of up to 35%.