| GENERAL EXPLANATORY STATEMENT REGARDING THE COVID-19 IMPACT ON |
THE ORGANIZATION The COVID-19 pandemic, whose effects first became known in January 2020, has caused economic interruptions through mandated and voluntary closings of businesses and organizations throughout the United States. The extent of the impact of COVID-19 on the Organization's operational and financial performance will depend on certain developments, including the duration and spread of the outbreak and its impact on the Organizations donors, employees, and vendors, all of which at present cannot be determined. Accordingly, the extent to which COVID-19 may impact the Organization's financial position and changes in net assets and cash flows is uncertain and the accompanying consolidated financial statements include no adjustments relating to the effects of this pandemic. To mitigate the devastating economic effects of the Pandemic, AFHU participated in the Small Business Administrations Paycheck Protection Program and received a forgivable loan in the amount of $1,035,000. The PPP Loan matures on April 18, 2022 and bears an interest rate of 1% per annum. AFHU obtained full forgiveness for the loan in December 2020 as it used the proceeds for permissible purposes, such as for payroll and occupancy costs. The loan is reported as a loan payable on the current year Form 990, but will be re-classed to a government grant on the succeeding years Form 990. FORM 990, PART VI, SECTION A, LINE 2 Roberta Bogen, director and Stanley M. Bogen, Director have a family relationship. Ken Stein, Vice President and Eric Stein, President of the San Francisco Regional Board have a family relationship. |
| 990 REVIEW PROCESS |
FORM 990, PART VI, LINE 11 THE ORGANIZATION'S FORM 990 WAS PREPARED BY A NATIONAL ACCOUNTING FIRM IN CONJUNCTION WITH THE ORGANIZATION'S FINANCE DEPARTMENT. IN APRIL OF 2021, THE ORGANIZATION'S OUTSIDE ACCOUNTING FIRM PRESENTED THE FORM 990 TO THE AUDIT COMMITTEE OF THE BOARD OF DIRECTORS TO ENABLE THEM TO FULFILL THEIR DUE DILIGENCE AND OVERSIGHT RESPONSIBILITIES. ONCE APPROVED FOR FILING BY THE AUDIT COMMITTEE, THE FORM 990 IS MADE AVAILABLE TO THE ENTIRE BOARD OF DIRECTORS PRIOR TO ITS FILING WITH THE INTERNAL REVENUE SERVICE. |
| CONFLICT OF INTEREST POLICY MONITORING AND ENFORCEMENT |
FORM 990, PART VI, LINE 12 EACH OFFICER, DIRECTOR, TRUSTEE AND KEY EMPLOYEE OF THE ORGANIZATION IS REQUIRED TO ANNUALLY DISCLOSE ANY CONFLICTS OF INTEREST THAT ARISE BY VIRTUE OF THEIR EMPLOYMENT, BOARD SERVICE, OR POSITION WITH THE ORGANIZATION. THE ORGANIZATION MONITORS COMPLIANCE WITH ITS CONFLICT OF INTEREST POLICY THROUGH AN ANNUAL QUESTIONNAIRE/DISCLOSURE STATEMENT THAT IS DISTRIBUTED TO THESE INDIVIDUALS. THE PRESIDENT HAS THE AUTHORITY TO MONITOR THE CONFLICTS OF INTEREST QUESTIONNAIRES AND REPORT THE FINDINGS TO THE BOARD OF DIRECTORS. CONFLICTS, WHEN THEY ARISE, ARE INVESTIGATED IMMEDIATELY. |
| PROCESS FOR DETERMINING COMPENSATION |
FORM 990, PART VI, LINE 15 ALL BONUS/SALARY RECOMMENDATIONS FOR THE chief executive officer ARE DETERMINED BY THE COMPENSATION COMMITTEE WHICH IS COMPRISED OF THE PRESIDENT, TREASURER AND CHAIRMAN OF THE BOARD. THE COMPENSATION COMMITTEE THEN MAKES A RECOMMENDATION TO THE EXECUTIVE COMMITTEE FOR APPROVAL. THE EXECUTIVE COMMITTEE IS COMPRISED OF THE ABOVE-MENTIONED 3 BOARD MEMBERS AND AN ADDITIONAL 17 BOARD MEMBERS. THE FINAL APPROVAL RESTS WITH THE EXECUTIVE COMMITTEE. ALL BONUS/SALARY RECOMMENDATIONS FOR ALL OTHER OFFICERS AND KEY EMPLOYEES ARE MADE BY THE chief executive officer TO THE COMPENSATION COMMITTEE, WHO ULTIMATELY MAKES A RECOMMENDATION TO THE EXECUTIVE COMMITTEE. THE FINAL APPROVAL RESTS WITH THE EXECUTIVE COMMITTEE. |
| DISCLOSURE OF DOCUMENTS |
FORM 990, PART VI, LINE 19 THE ORGANIZATION MAKES ITS FORM 990 AVAILABLE TO THE PUBLIC BY RETAINING A COPY AT ITS PLACE OF BUSINESS. THE FORM 990 IS LIKEWISE PUBLISHED ON THE INTERNET AT WWW.GUIDESTAR.ORG AND ON THE ORGANIZATION'S WEBSITE, WWW.AFHU.ORG. THE ORGANIZATION'S FINANCIAL STATEMENTS, GOVERNING DOCUMENTS AND CONFLICT OF INTEREST POLICY WILL BE MADE AVAILABLE UPON REQUEST. THE AUDITED FINANCIAL STATEMENTS ARE ALSO AVAILABLE ON THE ORGANIZATION'S WEBSITE. |
| form 990, part Vii - board relationships |
AFHU HOLDS MARKETABLE SECURITIES WITH AN APPROXIMATE VALUE OF $2,196,000 IN A NON-POOLED ENDOWMENT FUND WHICH IS UNDER THE CONTROL OF THE DONOR AND BOARD MEMBER STANLEY BOGEN. AFHU does not pay any investment management fees to Mr. Bogen's investment firm; accordingly this transaction does not need to be disclosed on Form 990, Schedule L. In the interests of full disclosure, AFHU is reporting this relationship on its Form 990. |
| OTHER CHANGES IN NET ASSETS |
FORM 990, PART XI, LINE 9 CHANGES IN VALUE OF SPLIT-INTEREST AGREEMENTS $ 66,862 CHANGES IN ASSETS OF TRUSTS AND OTHER SPLIT-INTEREST AGREEMENTS HELD BY OTHERS 1,059,400 NET ASSETS REDESIGNATION 992 Rounding (428) ----------- TOTAL $1,126,826 ----------- |
Attach to Form 990 or 990-EZ.