Stewardship
Where the trust is kept.
A nonprofit is a public trust. This page is where we show our work — how decisions get made, where every dollar will go, and who is on the hook for it.
Status as of June 2026: Our IRS Form 1023 was filed June 22, 2026 (EIN 41-5295276). Until determination is issued, we are not soliciting or accepting donations. Our first quarterly stewardship report will publish within ninety days of the first full operating quarter following determination.
Our stewardship commitments
These are the standards we hold ourselves to — not because the law requires every one of them, but because the people we serve deserve them.
- Quarterly receipts. Within ninety days of each quarter's close, we publish a public report: dollars in, dollars out, programs vs. operations, people served by pillar, and what's still on the to-do list.
- Program-first ratio. Our standing target is at least 80 ¢ of every dollar going to direct program work (elderly, children & families, striving entrepreneurs). We will publish the actual ratio every quarter — including the quarters we miss the target — and explain why.
- Independent governance. A majority of voting board seats are held by directors who are not family of the founders. Conflicts of interest are disclosed in writing and recorded in the minutes.
- Audit posture. We commit to a CPA-prepared annual financial review beginning with our first full fiscal year of operations, and to a full independent audit once annual revenue exceeds the threshold set in our written financial policy.
- Named stories, with consent. When we tell the story of someone we've served, it is with their written permission. When consent is withheld, the story doesn't run. Dignity comes before marketing.
- No surprise solicitations. We don't sell, rent, or trade donor lists. We don't run "matching gift" pressure campaigns. If we ask, we ask plainly and once.
What we publish — and when
Each quarterly stewardship report will include:
- Total contributions received, by source category (individuals, businesses, foundations, in-kind).
- Total program spending, broken out by pillar.
- Operations and overhead, broken out by line item.
- Program-to-overhead ratio for the quarter and trailing twelve months.
- People served, by pillar.
- Board actions taken, attendance, and any conflicts disclosed.
- What we said we'd do last quarter and whether we did it.
Until the first quarterly report publishes, the documents below are the receipts we have. Everything will be linked here as it becomes available.
Governance documents
- Articles of Incorporation — Alabama nonprofit corporation. Posting upon final stamped return.
- Bylaws — adopted by the organizational board meeting. Posting upon redaction of personal addresses.
- Conflict of Interest Policy — signed annually by all directors and officers. Posting upon redaction of personal addresses.
- IRS Form 1023 narrative — filed June 22, 2026. Posting upon IRS determination letter.
- IRS Determination Letter — pending.
- Form 990 — first filing due after the close of our first full fiscal year.
Founding board
Voting directors at the time of incorporation and 1023 filing:
- Kevin Nezat — President
- Deanna Nezat — Secretary
- Kris Nezat — Director
- Kelli Salter — Interim Treasurer
- Mike Salter — Director
Board composition will continue to evolve as additional independent directors are seated. Independence ratios are reported in each quarterly stewardship report.
If something looks wrong
Stewardship doesn't work in private. If you see something in our public reporting that doesn't add up, or if you have a concern about how funds were used, write us directly: kevin@fearnotfoundation.net. We answer.