Brooklyn Tech Alumni Foundation Inc.

“The draft of the annual form 990 shall be furnished to the treasurer and the audit committee, who shall review the return and confirm its accuracy. A copy of the final 990 is provided to all board members prior to submission.”

“The brooklyn tech alumni foundation (foundation) and all persons either elected or appointed to a foundation office (including, but not limited to, any board officers, directors and committee members) shall conscientiously avoid any situations and activities where their personal interests could conflict, or appear to conflict, with the interests of the foundation. A conflict of interest is any opportunity for personal gain in dealing with or on behalf of the foundation apart from nominal reimbursement of expenses according to foundation policy. In the event that any officer, director or committee member of foundation shall have any direct or indirect interest in, or relationship with, any individual or organization which proposes to work with, or transact any business with the foundation, such person shall give notice of such interest or relationship to the board and shall thereafter refrain from discussing or voting on the particular transaction in which she or he has an interest, or otherwise attempting to exert any influence on the foundation to affect a decision whether to participate in such transaction. The conflict of interest policy (policy) as enumerated herein applies to any board officer, director or committee member of foundation as well as any immediate family member thereof. The foundation will disclose the policy to candidates for the board and will obtain re-affirmation of the policy from existing members of the board or committees annually. Failure to comply with the policy may be grounds for removal from the board and/or committees.”

“The organization determines its compensation of its executive director based on a review by the executive committee.”

“The tax returns are available at the organization's office upon request or at www.guidestar.org.”

“A copy of the governing documents, conflict of interest policy and financial statements are available during normal business hours upon request at the organization's office.”

“The beginning amounts of net assets were adjusted based on the newly adopted accounting pronouncement - in august 2016, the financial accounting standards board (fasb) issued accounting standards update (asu) 2016-14, not-for-profit entities (topic 958) presentation of financial statements of not-for-profit entities. Asu 2016-14 addresses the complexity and understandability of net asset classification, deficiencies in information about liquidity and availability of resources, and the lack of consistency in the type of information provided about expenses and investment return. Management has implemented asu 2016-14 and has adjusted the presentation in these financial statements accordingly. The asu has been applied retrospectively to all periods presented.”

“The organization has a committee that assumes responsibility for oversight of the audit of its financial statements. For fiscal year ending 6/30/2019, the organization did not change its selection of an independent auditor.”