Suffolk Y Jewish Community Center Inc

“In july 2019, the center entered into a management services agreement with the mid-island y jewish community center (the "miyjcc"), related through certain common board members and leadership. Based on the agreement, the miyjcc manages the operations and assets of the center, funded by a grant from the uja-federation.”

“The audit committee reviews and brings to the full board to accept.”

“Duty to disclose: any director, officer or key person who has an interest in a related party transaction must disclose in good faith to the board or an authorized committee of the board, the existence of his or her financial interest and all material facts concerning such interest prior to commencement of deliberation or voting relating to the transaction. The corporation will not enter into any transaction with a related party unless the transaction is determined by the board to be fair, reasonable and in the corporation's best interest at the time of such determination. With respect to any related party transaction involving a charitable corporation and in which a related party has a substantial financial interest, the board of such corporation, or an authorized committee, shall (i) prior to entering into the transaction, consider alternative transactions to the extent available; (ii) approve the transaction by not less than a majority of the vote of the directors or committee members present at the meeting; and (iii) contemporaneously document in writing the basis for the board or authorized committee's approval, including its consideration of any alternative transactions. Procedures for addressing the conflict of interest: a) the chairperson of the board or designated committee or, if no chairperson, the entire board, shall, if there is a significant financial interest within the related party transaction, appoint a disinterested person or committee to investigate alternatives to the proposed transaction or arrangement. B) after exercising due diligence, the board or committee shall determine whether the corporation can obtain a more advantageous transaction or arrangement with reasonable efforts from a person or entity that would not give rise to a conflict of interest. C) if a more advantageous transaction or arrangement is not reasonably attainable under circumstances that would not give rise to a conflict of interest, the board or committee shall determine by a majority vote of the disinterested directors whether the transaction or arrangement is in the corporation's best interest and whether the transaction is fair and reasonable to the corporation and shall make its decision as to whether to enter into the transaction or arrangement in conformity with such determination. D) in all events, the corporation will comply with the requirements for invoking the rebuttable presumption under section 53.4958-6 of the treasury regulations. Violations of the conflict of interest policy: a) if the board or committee has reasonable cause to believe that an officer, director, or key person has failed to disclose actual or possible conflicts of interest, it shall inform the individual of the basis for such belief and afford the individual an opportunity to explain the alleged failure to disclose. B) if, after hearing the response of the individual and making such further investigation as may be warranted in the circumstances, the board or committee determines that the individual has in fact failed to disclose an actual or possible conflict of interest it shall take appropriate disciplinary and corrective action.”

“These documents are available upon request.”

“The process has not changed from the prior year.”