Our finances consist of money raised and money spent. The money coming in is from membership dues, donations and fund-raising activity. The money going out covers costs for the website, insurance, fees for administrative help, printing and other items.
The IAH Finance Committee watches over this. The committee is composed of at least three members who have sufficient knowledge, practical experience, and objectivity to guide the finances of the organization. The Treasurer of IAH serves as the chairperson of the committee and a practicing Certified Public Accountant is available for guidance.
IRS Form 990, Return of Organization Exempt from Income Tax, is required annually to monitor the activities of IAH and confirm the nature of the activities conducted. These returns are public information for 501(c)(3) charities, and they are posted on the IAH website.
Biennial reviews by an independent CPA firm shall be conducted, and an independent audit conducted every five (5) years.
Any member of IAH may request a review of the organization’s financial condition upon request to the Treasurer.