Cypress Hills Local Development Corporation Inc.

“Alexis sanchez and amory sanchez have a family relationship.”

“Management reviews the 990 to obtain an understanding of the reporting requirements and to ensure it is accurate and complete. Subsequently, a copy of the draft 990 is provided to the audit committee or full board (depending upon scheduling) to review. The audit committee meets with management to discuss the 990 and resolve any questions that may arise. The 990 is then distributed to the board for review and approval. Upon approval from the board, the 990 is filed.”

“Board members, officers and management employees report annually if a conflict of interest exists. If a conflict appears to exist, management and the board will meet with the individual to obtain all the facts. Subsequently, a vote will ensue if the matter is indeed a conflict of interest. If it is found to be a conflict of interest, the individual with the conflict must refrain from participating in the deliberation and decision making concerning the matter that gave rise to the conflict.”

“In fy18, chldc engaged a probono compensation expert who examined nonprofit salary surveys and determined that our executive director was below the 25% percentile of the market. We have been trying to increase the top salary on an annual basis. The organization also established a salary structure. Our deputy director's and cfo's salaries are at the middle of our range now for the top paid employees of similar sized nonprofits in new york city. The salaries are then approved by the board.”

“These documents are available upon request.”

“As of the date of filing the audit has not yet been completed. Form 990 has been prepared based on the best information available. Should information substantially change upon completion of the audit, the form will be amended to reflect those changes.”

“Changes in net asset 68,741.”

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