Day One of New York Inc

“All governing documents are available upon request”

“The organiztion's conflict of interest policy is regularly distributed to all directors, officers and employees. The policy requires all members to disclose potential conficts of interest as soon as they arise. Any board member with a stated interest may not participate in voting if the topic is considered a conflict of interest.”

“THE CEO and the finance committee REVIEW the RETURN BEFORE IT IS FILED. ADDITIONALLY, COPIES OF THE FORM 990 ARE PROVIDED TO ALL MEMBERS OF THE GOVERNING BODY PRIOR TO FILING THE FORM.”

“Day one is a nonprofit organization that uses the internal revenue service's three-step safe harbor procedure for establishing a rebuttable presumption that our executive director's compensation is reasonable. The following is the process used to determine the compensation of day one's executive director: the governance committee of the board of directors reviews the performance of the executive director annually and the finance committee will obtain research and information to make recommendations to the full board for the compensation (salary and benefits) of the executive director based on review of comparability data. For example, the finance committee will secure data that documents compensation levels and benefits for similarly qualified individuals in comparable positions at similar organizations. This appropriate data may include the following: 1. Salary and benefit compensation studies by independent sources 2. Information obtained from the irs form 990 filings of similar organizations concurrent documentation: to approve the compensation for the executive director, the board must document the following in their meeting minutes: 1. The members of the board who were present during the discussion about compensation and benefits, and the results of the vote. 2. A description of the comparability data relied upon and how the data was obtained. 3. Any actions taken (such as abstaining from discussion and vote) with respect to consideration of executive director's compensation. Independence in setting compensation: the members of the board of directors, who are all volunteers and not compensated by day one, will operate independently without undue influence from the executive director. No member of the governance committee will be a staff member, the relative of a staff member or have any relationship with staff that could present a conflict of interest.”

“The organization obtained a $500,000 program-related investment loan from The Marty and Dorothy Silverman Foundation (Foundation) for a working capital facility of operations of its program. The interest rate for the period is set at prime rate plus 3% per annum, which was 11.50% on September 30, 2023, and 9.25% on September 30, 2022. Quarterly payments are interest only through August 1, 2026, when the full unpaid principal balance is due. The Loan is collateralized by certain government contracts receivable. These funds are required to be invested in a restricted cash account, until the organization delivers a request for withdrawal, together with information, including invoices and evidence of costs incurred to disburse funds. Interest Expense related to the debt cannot exceed interest on earnings. There were no withdrawals for the years ending September 30, 2024, and 2023.”