Nysarc Inc - Nassau County Chapter

“NYSARC, Inc., doing business as The Arc New York, is a membership corporation formed in 1949 and is comprised of its thirty-nine county chapters across New York State. Each chapter, including the Nassau County Chapter ("AHRC Nassau"), operates as part of this statewide network, serving individuals with intellectual and developmental disabilities within its local jurisdiction. AHRC Nassau is governed by its own Board of Directors, which is responsible for its operations and oversight, operating under guidelines and policies promulgated by The Arc New York and its Board of Governors.”

“The Chapter members elect the officers and directors at its annual board meeting. The Chapter board members nominate the officers and directors of the Corporation.”

“Members of AHRC-Nassau's governing body have the authority to approve changes to AHRC Nassau's by-laws. Any change to the AHRC-Nassau by-laws approved by the AHRC-Nassau board members is also subject to approval by AHRC-Nassau membership at a special meeting called for such purpose and by the Board of Governors of The Arc of New York.”

“The Form 990 is prepared by AHRC Nassau's finance department personnel and reviewed by independent accountants. The Form 990 is provided to AHRC Nassau's Board of Directors for review and approval prior to filing with the IRS. A copy of the filed Form 990 is subsequently submitted to The Arc New York ("NYSARC, Inc.") for its records in accordance with statewide reporting guidelines.”

“All Board members complete and submit a conflict of interest questionnaire annually to the chairperson of the Board's Corporate Compliance Committee. Completed questionnaires are reviewed by this committee and a presentation made to the full Board of Directors. As per the Conflict of Interest policy for the Key and Supervisory personnel: New employees to whom this policy applies will be required to disclose any other employment, independent consulting assignment, family relationship to Agency employees, or other potential conflict of interest at the time of hire. The "Potential Conflict of Interest Disclosure Form" is provided to the employee by the Human Resources Department and must be completed with all other pre-employment paperwork and forwarded to the department Director for review.”

“A board designated Compensation Committee reviews and sets compensation of the officers utilizing, and retaining for its records, comparable industry data, employee tenure and skill evaluations, and financial condition of the organization. The compensation committee reviews is conducted and reported annually. The process includes the contemporaneous documentation and record-keeping of the deliberations and decisions regarding the compensation arrangement.”

“The organization makes its governing documents, conflict of interest policy, and financial statements available to the public upon request.”

“As of December 31, 2024, AHRC Nassau has an investment of $10,294,515 in a managed care organization (the MCO). The MCO was developed, together with four other chapters of The Arc New York, to provide a broad range of supports and services for people with developmental disabilities, in transition from a fee-for-service program model to a capitated, comprehensive care-management model. During 2021, the MCO experienced notable financial difficulties and the Chapter determined that it was no longer reasonable to expect full repayment of their investment. As such, a valuation allowance in the amount of $4,214,612 was recorded during the year ended December 31, 2021 to reduce the carrying value of the investment to $6,079,903. In 2024, the MCO experienced additional notable financial difficulties and AHRC Nassau determined that it was no longer reasonable to expect full repayment of the remaining balance of its investment. As such, an additional valuation allowance in the amount of $6,079,903 was recorded during the year ended December 31, 2024 to reduce the carrying value of the investment to $0. It is reasonably possible that the net carrying value of the investment can change in future periods.”