Cabrini Housing Development Fund Corporation

“Cabrini hdfc purchases management services from cabrini of westchester. These services include administrative and finance services. The following officers were paid by cabrini of westchester: patricia krasnausky, david arditti and judy futterman. Their compensation is reported in part vii, section a and schedule j, part ii. In 2021, cabrini hdfc incurred $60,000 in fees for these services.”

“Cabrini housing development fund corporation has its form 990 prepared by an outside accounting firm and has established the following review process to ensure that the information reported is complete and accurate. When the form 990 has been prepared, reviewed by management and is ready to be filed with the internal revenue service, it is electronically sent to the board members of the organization for any comments. Any comments are then grouped, summarized and provided to the outside accountants. Each issue is documented and addressed until the return is finalized and approved for filing by the governing board.”

“The conflict of interest policy is applicable to directors, officers, and to all employees who can influence the actions of the organization. Annually, each director, officer, and management employee has to complete a conflict of interest disclosure statement, which will inform the organization of any potential or actual conflicts a person may have. If anything should change after signing the policy, the person is required to notify the president or board chair regarding the conflict. Transactions with parties with whom a conflicting interest exists may be undertaken only if all of the following are observed: 1. The conflicting interest is fully disclosed; 2. The person with the conflict of interest is excluded from the discussion and approval of such transaction; 3. A competitive bid or comparable valuation exists; and 4. The board or a duly constituted committee thereof has determined that the transaction is in the best interest of the organization. Disclosure in the organization should be made to the chief executive officer (or if she or he is the one with the conflict, then to the board chair), who shall bring the matter to the attention of the board. Disclosure involving directors should be made to the board chair, (or if she or he is the one with the conflict, then to the board vice-chair) who shall bring these matters to the board. The board shall determine whether a conflict exists and in the case of an existing conflict, whether the contemplated transaction may be authorized as just, fair, and reasonable to cabrini hdfc. The decision of the board on these matters will rest in their sole discretion, and their concern must be the welfare of cabrini hdfc and the advancement of its purpose.”

“The organization's form 990 is available for public inspection as required under section 6104 of the internal revenue code. The return is posted on guidestar.org and other similar types of websites. In addition, the financial statements, conflict of interest policy, articles of incorporation, form 990, and by-laws are also available upon written request or by calling the organization directly.”

“Manager/superintendent services: program service expenses 197,112. Management and general expenses 0. Fundraising expenses 0. Total expenses 197,112. Security services: program service expenses 153,540. Management and general expenses 0. Fundraising expenses 0. Total expenses 153,540.”

“The full board of the organization assumes responsibility for the oversight of the audit of its financial statements and the selection of an independent accountant. This process did not change from the prior year.”