As a recipient of charitable contributions, Goodwill recognizes its responsibility to ensure that funds and contributions received are used to further its mission and to safeguard the assets of the corporation. In order to uphold the highest standards and ensure the integrity, honesty and reputation of the entirety of the Goodwill movement, we agree to voluntarily comply with the following Code of Ethics and related Financial Reporting and Management Practices.
We affirm our commitment to the following Code of Ethics based on the values and culture of Goodwill. As Officers, Employees, or Volunteers, we pledge to follow both the letter and the spirit of the following Code:
Marketing, Communications, and Development Activities:
We recognize that financial reporting and an integrated system of internal controls are key responsibilities of our President and CEO and Chief Financial Officer. We believe that periodic review of our financial status by our Board of Directors is essential and an integral part of their duties. We further recognize that an annual independent examination and assessment of our finances under the supervision of our Finance and Audit Committee is a key element in maintaining our credibility and ensuring the safeguarding of our assets.
Financial Statements: We reaffirm our responsibility to report the financial position and results of operations and cash flow of the organization in accordance with generally accepted accounting principles through financial statements to our Finance and Audit Committee and Board of Directors at least quarterly.
Internal Controls: We have an integrated system of internal control, designed to provide reasonable assurances that we will attain the following:
Annual Audit: We will engage an independent accounting firm to conduct an examination of our financial statements. The independent accounting firm will conduct its audit in accordance with generally accepted accounting and auditing principles (GAAP). The financial statements of the Corporation shall be audited annually by a firm of independent certified public accountants who shall be chosen by the Board of Directors. To avoid conflict of interest, the President and CEO, Chief Financial Officer, or any other member of the Board cannot have worked for the auditing firm at least one year preceding the audit. The auditor or auditing firm or at least the lead and reviewing partners are rotated at least every 5 years. The auditors will examine our financial statements and internal control assessment and report on their examination and recommendations for changes in the financial statements, reporting practices, or internal controls. This report will be provided directly to our Finance and Audit Committee and Board of Directors.
Finance & Audit Committee: This committee shall be comprised of at least three members of the Board of Directors who are nominated by the Chairperson and appointed by the Board. All members of the Finance and Audit Committee will be independent from management, financially literate, and at least one member will have accounting or related financial management expertise. It shall be the duty of this Committee to: a) provide oversight and generally monitor the fiscal condition and solvency of the Corporation and effective use of the Corporation's resources; b) examine the budget prepared by the President and CEO prior to its submission to the Board of Directors; c) safeguard the assets of the Corporation through the procurement of insurance with appropriate levels of coverage; and d) oversight responsibilities relating to the auditing, accounting, and reporting practices of the Corporation, the adequacy of the Corporation's systems of internal controls, and the Corporation's legal and financial compliance with applicable laws and regulatory requirements.
Contractual Relationships: Goodwill Industries of Arkansas, will maintain its relationships with individuals and entities with whom it has established or is considering establishing a contractual relationship in a legal and ethical manner. Conflicts of interest with any current or potential bidders must be declared. A copy of the Code of Ethics for Goodwill shall be provided to all Contractors during the bidding process and they will be required to adhere to the Code upon contract award.
The President and CEO, along with the Chief Financial Officer and Chief Operating Officer, are the only individuals who have authoritative responsibility for negotiating and signing contracts and contingencies for Goodwill Industries of Arkansas. No other employee has the authoritative right to negotiate or sign contracts unless specifically designated by the President and CEO.
Whistle Blower Protection: In accordance with laws governing both profit and nonprofit corporations, we have or will adopt a whistle blower policy and procedures, which will encourage employees to report any financial improprieties. Employee reports of improprieties will be taken seriously and investigated promptly. Employees bringing such reports will not be subject to retaliation or adverse action based on the disclosure of the complaint.
Goodwill is committed to the establishment, implementation, and maintenance of a corporate compliance program to ensure ongoing monitoring and compliance with all legal and regulatory requirements. The program will emphasize:
Prevention of wrong doing- whether intentional or unintentional;
Immediate reporting and investigation of questionable activities and practices without consequences to the reporting agency and;
Timely correction of any situation that puts Goodwill, its leadership or staff, funding sources or persons served at risk.
Employees have the responsibility to report any wrongdoing to the Chief Operating Officer (COO). Any employee may call the EthicsPoint hotline (1-866-ETHICSP (384-4277) to report issues of fraud, waste and/or abuse. This allows for the anonymity of the caller. The Chief Operating Officer will proceed as appropriate.
Conflict of Interest: We have a conflict of interest policy governing our board members, officers, employees, and volunteers. We agree that a conflict of interest arises when a board member, officer, volunteer, or employee is influenced by personal considerations, including but not limited to financial considerations, in the course of performing work for Goodwill. All board members, officers, employees, and volunteers should disclose any activity or relationship at a specific planned time, which may be perceived as a conflict of interest, and a record of that disclosure should be maintained.
Document Destruction: We have adopted a written, mandatory document retention and destruction policy based on legal requirements. By law, certain documents, such as- financial records, contracts, real estate, and employee records, must be archived according to specific guidelines. The policy will also state it is illegal to alter, cover up, falsify, or destroy any document to prevent its use in an official proceeding such as a federal investigation. The policy will include guidelines for electronic mail and voice mail.
Certification of Form 990: We agree that both the President and CEO and the Chief Financial Officer of Goodwill will sign Internal Revenue Service Form 990 to attest to the accuracy and completeness of its contents as well as to the accuracy of financial reports utilized during the year and in preparation of the Form 990. The Financial statements and Form 990 will not contain any untrue material statements for facts and will not be misleading in their presentation.
The conduct of all board members, employees, volunteers, and officers of Goodwill has an impact on our ability to manage our financial resources and serve the community. In order to strengthen our ability to comply with the Code of Ethics and Principles in this document, we will ask each member of the staff, board, or other volunteer groups to agree to conduct himself or herself in a manner that promotes Goodwill's corporate culture, values and ethical behaviors that include:
Procedures to Deal with Allegations of the Code:
The Chief Operating Officer will handle all corrective action for violation of the Code. The following circumstances may be considered:
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