STOP Foodborne Illness 123120 FS

(an Illinois nonprofit organization), which comprise the statements of financial position as of December 31, 2020 and 2019, and the related statements of activities, cash flows and functional expenses for the years then ended, and the related notes to the financial statements. [...] Management’s Responsibility for the Financial Statements Management is responsible for the preparation and fair presentation of these financial statements in accordance with accounting principles generally accepted in the United States of America; this includes the design, implementation, and maintenance of internal control relevant to the preparation and fair presentation of financial statements. [...] In making those risk assessments, the auditor considers internal control relevant to the entity’s preparation and fair presentation of the financial statements in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the entity’s internal control. [...] NOTES TO THE FINANCIAL STATEMENTS - (Continued) DECEMBER 31, 2020 AND 2019 NOTE 2 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES A summary of the Organization’s significant accounting policies consistently applied in the preparation of the accompanying financial statements follows: BASIS OF PRESENTATION The accompanying financial statements report the assets, liabilities, revenues and expenses of th. [...] ESTIMATES The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses dur.