MILL River Collaborative Inc.

“Pursuant to the collaborative's bylaws, five (5) members of the board of directors are appointed by virtue of their positions with the city of stamford. These positions are: 1. The mayor of the city of stamford or their designee, 2. The land use bureau chief of the city of stamford or their designee, 3. The chair of the land use/urban redevelopment committee of the board of representatives of the city of stamford, or other representative designed by the president of the board of representatives of the city of stamford 4. The director of operations of the city of stamford or his designee, and 5. The president of the downtown special services district of the city of stamford”

“The collaborative uses an outside accounting firm to prepare its form 990. Once the form 990 is prepared, it is provided to the finance committee for their review. A complete copy of the form 990 is provided to all members of the board of directors prior to filing the return with the internal revenue service.”

“The collaborative has a conflict of interest policy that is applicable to all board members. Annually all board members sign a conflict of interest disclosure form. Staff members are covered under a policy included in the employee handbook, which each employee is required to sign upon employment. A person having a conflict of interest is required to disclose the conflict to the board where a determination is made by the full board as to whether a conflict actually exists. The board will determine whether the conflict warrants the conflicted board member to recuse himself or herself from discussion and/or voting on the subject of the conflict, on a case by case basis.”

“The organization has a process for determining the compensation of the president/ceo whereby a committee reviews comparability data on nonprofit executive compensation in the fairfield and westchester county area. The compensation is approved by the board of directors, and the process last occurred in 2022. Senior executives submit an annual self appraisal which is reviewed by their immediate superior who provides comments/feedback on the self appraisal. The president & ceo's self appraisal is reviewed by chairman and discussed with the board of trustees. The president & ceo recommends changes in compensation to the chairman and committee for employees at the director and manager level. The full board approves changes in compensation for: president & ceo, director of programs and outreach, director of business & operations, director of development, construction manager, land manager when warranted. The president & ceo approves compensation increases for lower level employees after review by committee, president & ceo's self appraisal will be reviewed by the committee in 2023.”

“The collaborative makes its form 990 available as required pursutant to irc section 6104. Additionally, the collaborative makes its governing documents, conflict of interest policy, and financial statements available to the public upon request.”

“The collaborative has a finance committee that assumes responsibility for the oversight of the audit of its financial statements and selection of an independent accountant. This process has not changed from the prior year.”