2015-10-26T07:16:10-05:00 2015-06-30 041617630 MEYER REGAN & WILNER LLP 111 DURFEE STREET FALL RIVER MA 027202126 990 2014-07-01 042104026 UNITED WAY OF GREATER FALL RIVER INC UNIT 5086788361 80 NORTH MAIN STREET PO BOX 2550 FALL RIVER MA 02722 JAMES KAY TREASURER 5086788361 2015-09-15 1 MELISSA B KENYON P01272045 5086796451 2014 2016-02-25 16:41:14Z DANIEL ABRAHAM 80 NORTH MAIN STREET PO BOX 2550 FALL RIVER MA 02722 2699743 0 X UWGFR.ORG X 1957 MA THE PURPOSE OF THIS ORGANIZATION SHALL BE TO RAISE FUNDS; TO SOLICIT, RECEIVE AND HOLD MONEY AND OTHER PROPERTY, BOTH REAL AND PERSONAL, ACQUIRED BY GIFT, CONTRIBUTIONS, BEQUEST, DEVISE OR OTHERWISE; TO SELL AND CONVEY REAL PROPERTY SO ACQUIRED; TO DISBURSE AND DISTRIBUTE THE SAID FUNDS FOR THE FINANCIAL SUPPORT, IN WHOLE OR IN PART, OF LOCAL PROGRAMS CONDUCTED BY SOCIAL AGENCIES FOR CHARITABLE, HEALTH, WELFARE, RECREATIONAL AND ALLIED PURPOSES IN THE GREATER FALL RIVER AREA; TO PROVIDE THE PLANS, FACILITIES, MANPOWER AND COMMUNITY LEADERSHIP FOR AN ANNUAL UNIFIED FUND RAISING CAMPAIGN; TO EFFECTIVELY PLAN AND EXECUTE A BALANCED PROGRAM OF SOCIAL SERVICES. 30 30 11 92 0 0 1280039 1257974 0 0 336836 223027 0 0 1616875 1481001 950881 910916 0 0 311181 320736 0 0 199832 164234 171898 1426296 1403550 190579 77451 6865389 6778310 583132 533355 6282257 6244955 X THE PURPOSE OF THIS ORGANIZATION SHALL BE TO RAISE FUNDS; TO SOLICIT, RECEIVE AND HOLD MONEY AND OTHER PROPERTY, BOTH REAL AND PERSONAL, ACQUIRED BY GIFT, CONTRIBUTIONS, BEQUEST, DEVISE OR OTHERWISE; TO SELL AND CONVEY REAL PROPERTY SO ACQUIRED; TO DISBURSE AND DISTRIBUTE THE SAID FUNDS FOR THE FINANCIAL SUPPORT, IN WHOLE OR IN PART, OF LOCAL PROGRAMS CONDUCTED BY SOCIAL SERVICE AGENCIES FOR CHARITABLE, HEALTH, WELFARE, RECREATIONAL AND ALLIED PURPOSES IN THE GREATER FALL RIVER AREA; TO PROVIDE THE PLANS, FACILITIES, MANPOWER AND COMMUNITY LEADERSHIP FOR AN ANNUAL UNIFIED FUND RAISING CAMPAIGN; TO EFFECTIVELY PLAN AND EXECUTE A BALANCED PROGRAM OF SOCIAL SERVICES. 0 0 910113 910113 DISTRIBUTED 72% OF NET CAMPAIGN TO MANY HEALTH AND HUMAN SERVICE AGENCIES WHICH ASSIST A WIDE VARIETY OF PEOPLE IN GREATER FALL RIVER. THE PRIMARY FUNDING IS ALLOCATED TO 16 AGENCIES AND PROGRAMS FOLLOWING A COMPREHENSIVE PROGRAM AND FINANCIAL REVIEW PROCESS. SECONDARY FUNDING IS PROVIDED TO A GROUP OF 15 AGENCIES AND PROGRAMS, AS DESIGNATED TO THE AGENCIES BY OUR DONORS. ADDITIONALLY, FUNDING IS PROVIDED, THROUGH A COMPETITIVE GRANT PROCESS, FOR SPECIAL PROJECTS OR PROGRAMS THAT BENEFIT THE COMMUNITY. 85299 803 INFOLINE: PROVIDES AN INFORMATION AND REFERRAL SERVICE THROUGH DIRECT CALLS TO OUR OFFICE (APPROXIMATELY 40 SUCH CALLS IN FISCAL YEAR 2015), OR THROUGH A REFERRAL TO THE STATE-WIDE I & R SERVICE - MASS 211(OVER 356 LOCAL CALLS IN FISCAL YEAR 2015). WE ARE A FINANCIAL CONTRIBUTOR AND A CO-SPONSOR OF THE 211 SERVICE. ADDITIONALLY, WE PROVIDED ABOUT 9,500 BROCHURES AND DIRECTORIES TO THE COMMUNITY AS ADDITIONAL I & R, AND AS PART OF THE EDUCATIONAL PROCESS FOR THE COMMUNITY, BRINGING AWARENESS OF THE AVAILABILITY OF SOCIAL AND HEALTH AND HUMAN SERVICES FOR THOSE IN NEED. WE ALSO HAVE A VERY ACTIVE "TRAVELERS AID" PROGRAM THAT PROVIDES BUS VOUCHERS (19 IN FISCAL YEAR 2015) FOR INDIVIDUALS AND FAMILIES WHO ARE STRANDED IN OUR COMMUNITY, WHO WISH TO RETURN HOME. 995412 1 1 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 3 0 11 1 0 0 0 0 0 0 0 0 0 0 X 30 30 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 MA X X PATRICIA BERNIER FIN DIRECTOR 5086788361 80 NO MAIN ST PO BOX 2550 FALL RIVER MA 02722 NICHOLAS M CHRIST PAST DIRECTOR 0.20 X 0 0 0 STANLEY KOPPELMAN PAST DIRECTOR 0.20 X 0 0 0 CHRIS LAFRANCE PAST DIRECTOR 0.30 X 0 0 0 EDMOND TRUDELLE PAST DIRECTOR 0.10 X 0 0 0 REBECCA COLLINS DIRECTOR 0.20 X 0 0 0 JACKIE EINSTEIN DIRECTOR 0.30 X 0 0 0 REV DR ROBERT P LAWRENCE DIRECTOR 0.20 X 0 0 0 SANDRA FITZSIMMONS DIRECTOR 0.30 X 0 0 0 MICHELLE PELLETIER DIRECTOR 0.30 X 0 0 0 GEORGE OLIVEIRA DIRECTOR 0.20 X 0 0 0 RICHARD BEAULIEU DIRECTOR 0.20 X 0 0 0 DAVID DEJESUS DIRECTOR 0.20 X 0 0 0 JAMES WALLACE DIRECTOR 0.40 X 0 0 0 MICHAEL MCDONALD DIRECTOR 0.80 X 0 0 0 JASON RUA DIRECTOR 0.40 X 0 0 0 EVA CABRAL DIRECTOR 0.60 X 0 0 0 MARY-LOU MANCINI DIRECTOR 0.20 X 0 0 0 DR JOHN SBREGA DIRECTOR 0.20 X 0 0 0 GEORGE MERCIER DIRECTOR 0.20 X 0 0 0 GEORGE SHAKER JR DIRECTOR 0.30 X 0 0 0 ALISON BOUCHARD DIRECTOR 0.40 X 0 0 0 MARTA MONTLEON DIRECTOR 0.20 X 0 0 0 THOMAS DURKIN DIRECTOR 0.20 X 0 0 0 MELISSA PANCHLEY DIRECTOR 0.40 X 0 0 0 JOAN M MEDEIROS DIRECTOR 0.40 X 0 0 0 FRANK B SOUSA III DIRECTOR 0.20 X 0 0 0 ANN M RAMOS DESROSIERS DIRECTOR 0.30 X 0 0 0 WANDA GONZALEZ DIRECTOR 0.10 X 0 0 0 CAROL VALCOURT PAST VICE PRESIDENT/DIRECTOR 0.20 X X 0 0 0 GERARD R HAJDER DECEASED PAST TREASURER 0.20 X X 0 0 0 DANIEL ABRAHAM BOARD CHAIR 1.00 X X 0 0 0 JAMES H KAY PAST ASSISTANT TREASURER/TREASURER 0.30 X X 0 0 0 JORGELINA MOREIRA PAST DIRECTOR/ASSISTANT TREASURER 0.20 X X 0 0 0 SUE JENKINSON SECRETARY 0.20 X X 0 0 0 BARRY BIBEAU ASSISTANT SECRETARY 0.30 X X 0 0 0 ROBERT HORNE EXECUTIVE DIRECTOR 40.00 X 94518 0 20961 94518 0 20961 0 0 0 0 0 37265 1220709 1257974 179637 179637 1262132 1218742 43390 43390 43390 1481001 0 0 223027 910113 910113 803 803 127383 25637 45919 55827 135183 27722 59167 48294 11985 2065 3595 6325 21705 3396 7104 11205 24480 4885 9445 10150 12500 12500 25888 25888 6970 6804 7 159 34971 3119 12215 19637 5053 1831 1259 1963 53681 5348 19327 29006 1050 160 356 534 2138 27 844 1267 14192 1419 5109 7664 5493 868 1683 2942 2975 517 1043 1415 AWARDS & GIFTS TO CONTR 4014 1602 2412 MISCELLANEOUS 992 198 317 477 DUES 966 411 555 ANNUAL FILING FEES 515 515 500 500 1403550 995412 208306 199832 100 100 244319 212675 406099 462246 27964 18242 11975 9722 5050949 4970992 1151947 1122575 6865389 6778310 5147 6368 144532 112161 433453 414826 583132 533355 X 3052441 3046954 2588 7370 3227228 3190631 6282257 6244955 6865389 6778310 X 77451 28542 -143295 X X 0 1 X 1 0 X 1405057 1943202 1415377 1280039 1257974 7301649 1405057 1943202 1415377 1280039 1257974 7301649 758821 6542828 106007 186501 171838 178770 179637 822753 8124402 0.80530 0.83720 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 5050949 175000 206477 461434 4970992 4362809 377271 817847 506978 5050949 3904906 221091 472244 235432 4362809 3528378 340000 180727 144199 3904906 3222899 500000 -23545 170976 3528378 0.58250 0.41750 1 0 27964 18242 9722 9722 C.S.V. LIFE INSURANCE 12797 CONTRIBUTIONS RECEIVABLE FROM CHARITABLE REMAINDER TRUSTS 285251 BENEFICIAL INTEREST IN PERPETUAL TRUST 816024 SECURITY DEPOSIT 2145 INVESTMENT INCOME RECEIVABLE 6358 1122575 ALLOCATIONS AND DESIGNATIONS PAYABLE 397041 ANNUITY PAYMENT LIABILITY 17785 414826 X 1326793 28542 3876 -37740 -5322 1332115 148886 148886 1481001 1364095 3876 3876 1360219 43331 43331 1403550 PART V, LINE 4: THE UNITED WAY'S ENDOWMENT FUNDS ARE HANDLED IN TWO WAYS. A PORTION OF THE ENDOWMENT FUNDS ARE RESTRICTED BY THE DONORS TO BE USED FOR SPECIFIC SERVICES IN THE COMMUNITY. A PERCENTAGE OF THESE FUNDS (AS ANNUALLY DETERMINED BY THE BOARD OF DIRECTORS) ARE MADE AVAILABLE TO THE COMMUNITY THROUGH OUR COMMUNITY IMPACT GRANTS PROGRAM. THE AMOUNT AVAILABLE FOR USE IN THE YEAR ENDED JUNE 30, 2015 WAS $49,835. A GREATER PORTION OF THE ENDOWMENT FUND ($183,254) IS USED TO OFFSET OPERATING EXPENSES OF THE UNITED WAY, THEREBY ALLOWING MORE DONOR DOLLARS TO BE USED FOR FUNDING SERVICES AND PROGRAMS. THESE FUNDS ARE ALSO MADE AVAILABLE BY A PERCENTAGE OF THE ENDOWMENT FUNDS (AS ANNUALLY DETERMINED BY THE BOARD OF DIRECTORS). PART X, LINE 2: THE ORGANIZATION IS EXEMPT FROM FEDERAL INCOME TAX UNDER SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE. UNRELATED BUSINESS INCOME, OF WHICH THE ORGANIZATION HAS NONE, WOULD BE SUBJECT TO FEDERAL AND STATE INCOME TAXES. CONSEQUENTLY, THE ACCOMPANYING FINANCIAL STATEMENTS DO NOT REFLECT ANY PROVISION FOR INCOME TAXES. IN ADDITION, THE ORGANIZATION QUALIFIES FOR THE CHARITABLE ORGANIZATION DEDUCTION UNDER SECTION 170(B)(1)(A) AND HAS BEEN CLASSIFIED AS AN ORGANIZATION OTHER THAN A PRIVATE FOUNDATION UNDER SECTION 509(A)(2). THE PRIMARY TAX POSITIONS MADE BY THE ORGANIZATION ARE THE EXISTENCE OF UNREALIZED BUSINESS INCOME AND THE ORGANIZATION'S STATUS AS A TAX EXEMPT ORGANIZATION UNDER SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE. THE ORGANIZATION'S POLICY IS TO ANALYZE AND EVALUATE ITS TAX POSITIONS BEING HELD UNDER REVIEW. FOR THE YEAR PRESENTED, THE ORGANIZATION HAS NOT RECOGNIZED ANY TAX BENEFITS OR LOSS CONTINGENCIES FOR UNCERTAIN TAX POSITIONS BASED ON THIS EVALUATION. THE ORGANIZATION'S FORMS 990, RETURN OF ORGANIZATION EXEMPT FROM INCOME TAX, ARE SUBJECT TO EXAMINATION BY THE IRS, GENERALLY FOR 3 YEARS AFTER THEY ARE FILED. PART XI, LINE 2D - OTHER ADJUSTMENTS: REVALUATION ADJUSTMENT OF BENEFICIAL INTEREST IN PERPETUAL TRUSTS -27,221. CHANGE IN VALUES OF SPLIT-INTEREST AGREEMENTS -10,519. PART XI, LINE 4B - OTHER ADJUSTMENTS: AMOUNT DESIGNATED BY DONORS 148,886. PART XII, LINE 4B - OTHER ADJUSTMENTS: AMOUNT DESIGNATED BY DONORS 43,331. 1 AMERICAN RED CROSS 995 ROCKDALE AVENUE NEW BEDFORD MA 02740 530196605 501(C)(3) 36065 DISASTER SUPPORT THE ARC OF GREATER FALL RIVER PO BOX 1943 FALL RIVER MA 02722 042278687 501(C)(3) 55050 GENERAL SUPPORT BIG FRIENDS LITTLE FRIENDS 229 FLINT STREET FALL RIVER MA 02723 042104058 501(C)(3) 49167 MENTORING COMMUNITY DEVELOPMENT & RECREATION 72 BANK STREET FALL RIVER MA 02720 042491918 501(C)(3) 28368 COMPUTER LAB DIABETES ASSOC OF GREATER FALL RIVER 170 PLEASANT STREET FALL RIVER MA 02720 042665107 501(C)(3) 60753 DIABETES/HEALTH FALL RIVER YMCA 199 NO MAIN STREET FALL RIVER MA 02720 042104749 501(C)(3) 13904 RECREATION FAMILY SERVICE ASSOCIATION 151 ROCK STREET FALL RIVER MA 02720 042104058 501(C)(3) 44471 MENTAL HEALTH KING PHILIP COMMUNITY HOUSE 334 TUTTLE STREET FALL RIVER MA 02724 042313397 501(C)(3) 18995 CHILD CARE NINTH STREET DAY NURSERY 533 HIGHLAND AVENUE FALL RIVER MA 02720 042223500 501(C)(3) 19735 CHILD CARE PEOPLE INC 1040 EASTERN AVENUE FALL RIVER MA 02723 042447216 501(C)(3) 64885 GENERAL SUPPORT SERJOBS FOR PROGRESS 164 BEDFORD STREET FALL RIVER MA 02720 042664574 501(C)(3) 62648 JOB SUPPORT STANLEY STREET TREATMENT CENTER 386 STANLEY STREET FALL RIVER MA 02720 042604426 501(C)(3) 42329 HEALTH CLINIC STEPPINGSTONE INC 466 MAIN STREET FALL RIVER MA 02720 042505146 501(C)(3) 34939 SUBSTANCE ABUSE THE SAMARITANS PO BOX 9642 FALL RIVER MA 02720 222474826 501(C)(3) 36119 GENERAL SUPPORT BOYS AND GIRLS CLUB PO BOX 5155 FALL RIVER MA 02722 042103923 501(C)(3) 91631 RECREATION UNITED PARTNERSHIPS 1040 EASTERN AVENUE FALL RIVER MA 02723 042447216 501(C)(3) 55866 EDUCATION/YOUTH WORD INC 951 SLADE STREET FALL RIVER MA 02724 042679578 501(C)(3) 35700 CHILD CARE SERVICES TEACH FOR AMERICA 60 CANAL STREET 3RD 5TH FLOOR BOSTON MA 02114 133541913 501(C)(3) 25000 GRANT PROJECT VETERAN'S ASSOCIATION 755 PINE STREET FALL RIVER MA 02720 042977737 501(C)(3) 6150 GENERAL SUPPORT FELLOWSHIP HEALTH RES 522 COUNTY STREET NEW BEDFORD MA 02740 050373414 501(C)(3) 8814 COMMUNITY IMPACT GRANT GREATER FALL RIVER COMMUNITY FOOD PANTRY 228 NORTH MAIN STREET FALL RIVER MA 02720 223128989 501(C)(3) 6500 FOOD GRANT GREATER FALL RIVER COMMUNITY SOUP KITCHEN 160 ROCK STREET FALL RIVER MA 02720 042790780 501(C)(3) 5500 FOOD GRANT KATIE BROWN EDUCATIONAL PROGRAM 10 PURCHASE STREET 5TH FLOOR FALL RIVER MA 02720 450480658 501(C)(3) 8000 DIRECT DESIGNATIONS HEALTHFIRST 387 QUARRY STREET FALL RIVER MA 02723 042503444 501(C)(3) 6868 DIRECT DESIGNATIONS CITIZENS FOR CITIZENS 254 GRIFFIN STREET FALL RIVER MA 02720 046134724 501(C)(3) 12000 GRANTS FOR FOOD AND VITA PROGRAMS STAND FOR CHILDREN 38 CHAUNCY STREET SUITE 700 BOSTON MA 02110 521957214 501(C)(3) 10000 SUPPORT SERVICES FOR FALL RIVER SCHOOLS 26 0 PART I, LINE 2: PROCEDURES ARE IN PLACE TO MONITOR GRANTS AND ALLOCATIONS, BUT IN DIFFERENT WAYS. THE UNITED WAY UNDERTAKES A COMPREHENSIVE REVIEW PROCESS OF ITS MEMBER AGENCIES, PRIOR TO APPROVAL AND DISTRIBUTION OF FUNDS. DETAILED FINANCIAL REPORTS SUPPORTING PRIOR YEAR ALLOCATIONS ARE REVIEWED IN THIS PROCESS, SUPPORTED BY RECEIPT OF AUDITED FINANCIAL STATEMENTS (OR A LEVEL OF INDEPENDENTLY PREPARED FINANCIAL STATEMENTS DEPENDING ON THE LEVEL OF FUNDING PROVIDED TO THE AGENCY). WITH THE EXCEPTION OF A SMALL AMOUNT OF GRANTS TO LOCAL FOOD PANTRIES AND SOUP KITCHENS (WHICH REQUIRE NO SUPPORTING FINANCIAL REPORTS, AND ARE NOT AFFILIATED WITH UNITED WAY), ALL GRANT RECIPIENTS UNDER OUR COMMUNITY IMPACT PROGRAM ARE REQUIRED TO SUBMIT QUARTERLY REPORTS, TO BE REVIEWED BY STAFF AND/OR VOLUNTEERS PRIOR TO THE DISBURSEMENT OF QUARTERLY CHECKS. FORM 990, PART VI, SECTION B, LINE 11 THE PROCEDURE FOR THE FORM 990'S REVIEW BY THE GOVERNING BODY IS TO FIRST HAVE THE 990 REVIEWED BY THE FINANCE COMMITTEE (11 MEMBERS OF THE BOARD SERVING AS A FINANCE AND ADVISORY SUB-COMMITTEE) AND THEN PRESENTED TO THE FULL BOARD OF DIRECTORS BY A MEMBER OF THE ACCOUNTING FIRM. FORM 990, PART VI, SECTION B, LINE 12C THE CONFLICT OF INTEREST POLICY IS REVIEWED ANNUALLY, CONSIDERED FOR ANY CHANGES OR AMENDMENTS, AND THEN IS DISTRIBUTED TO ALL STAFF AND DIRECTORS FOR THEIR REVIEW. THE CHIEF OPERATING OFFICER IS RESPONSIBLE FOR THE DAY-TO-DAY MONITORING OF CONFLICTS. WHERE THE CHIEF PROFESSIONAL OFFICER IS CONCERNED, RELATIVE TO CONFLICTS, THE CHIEF VOLUNTEER OFFICER IS RESPONSIBLE FOR MONITORING HIS/HER ACTIONS. ALL BOARD MEMBERS AND STAFF SIGN OFF ON THIS POLICY, EACH YEAR, DISCLOSING ANY POTENTIAL CONFLICTS, AND ACKNOWLEDGING THAT THEY HAVE REVIEWED THE POLICY. FORM 990, PART VI, SECTION B, LINE 15 A POLICY HAS BEEN ESTABLISHED WHEREBY THE CHIEF PROFESSIONAL OFFICER WILL BE REVIEWED (AND COMPENSATION CONSIDERED) BY A COMPENSATION COMMITTEE, AS A SUB COMMITTEE OF THE BOARD OF DIRECTORS, CONSISTING OF THE CHAIR OF THE BOARD, THE FINANCE COMMITTEE CHAIR AND THE PERSONNEL COMMITTEE CHAIR. ALL AVAILABLE COMPARABLE COMPENSATION DATA - BOTH LOCAL AND REGIONAL - IS UTILIZED IN THE EVALUATION. ANY COMPENSATION, INCLUDING SALARY AND BENEFITS ARE APPROVED BY THE FULL BOARD OF DIRECTORS. FORM 990, PART VI, SECTION C, LINE 19 THE ORGANIZATION MAKES ITS FINANCIAL STATEMENTS, GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND ALL OTHER POLICIES AVAILABLE TO THE PUBLIC IN THE UNITED WAY OFFICE DURING REGULAR BUSINESS HOURS. FINANCIAL STATEMENTS ARE ALSO AVAILABLE THROUGH GUIDESTAR.ORG AND THE COMMONWEALTH OF MASSACHUSETTS DIVISION OF PUBLIC CHARITIES. GOVERNING DOCUMENTS ARE ALSO AVAILABLE VIA THE SECRETARY FOR THE COMMONWEALTH OF MASSACHUSETTS CORPORATE DATABASE. IN ADDITION, THE ORGANIZATION'S BALANCE SHEET IS INCLUDED IN THE ANNUAL REPORT, WHICH IS WIDELY DISTRIBUTED IN THE COMMUNITY. PLANS ARE IN PLACE TO PUBLISH THE FINANCIAL STATEMENTS AND THE FORM 990 ON OUR WEBSITE. FORM 990, PART XI, LINE 9: REVALUATION ADJUSTMENT OF BENEFICIAL INTERESTS IN PERPETUAL TRUSTS -27,221. CHANGE IN VALUE OF SPLIT-INTEREST AGREEMENTS -10,519. TIMING DIFFERENCE - FASB 136 FOR DESIGNATIONS -105,555. FORM 990, PART XI, LINE 2C THE AUDIT COMMITTEE PROVIDES OVERSIGHT OF THE AUDIT OF ITS FINANCIAL STATEMENTS AND THE SELECTION OF AN INDEPENDENT AUDIT FIRM. THE MEMBERS OF THIS COMMITTEE, ALL OF WHOM HAVE FINANCIAL BACKGROUNDS, CONSIST OF THE CHAIR OF THE BOARD, CHAIR OF THE FINANCE COMMITTEE AND THE TREASURER. THE AUDIT COMMITTEE MEETS INDEPENDENTLY WITH THE CPA FIRM PRIOR TO THE AUDIT BEING PRESENTED TO THE BOARD OF DIRECTORS. THIS PROCESS HAS NOT CHANGED SINCE THE PRIOR YEAR.