Turning Point Housing Development Fund Corporation

“Joseph freyer, and robert payne both work for american express.”

“Accounting and management duties have been contracted to a management agent, btq financial.”

“The by-laws of turning point brooklyn inc. Were amended and restated to form a strategic allaince with brooklyn bureau of community services d/b/a brooklyn community services (bcs). Bcs has accepted appointment as sole member of the board of turning point brooklyn, and affiliates, effective janaury 1, 2018.”

“Prior to filing of form 990, the same undergoes review by the finance committee, which then hands it over to the board for final review.”

“Officers and employees are required to disclose, on an annual basis, any interest that could give rise to conflict of interest via the completion of a questionnaire. All disclosures of interests in said questionnaires are compiled and reported by management to the finance committee of the board, together, in each case, with the response or recommendation of management. The finance committee shall determine in each case whether the recommended resolution is satisfactory and, if not, shall take such further action as it deems appropriate.”

“The board determines the salary of the executive director and other key employees based on independent studies and comparison with industry peers.”

“AVAILABLE UPON REQUEST.”

“Several actions are being taken to address these financial challenges. The scattered site housing contracts that have consistently operated at a loss were all reassigned to other agencies. This process was complete at june 30, 2017. On january 1, 2018, the organization also entered into a strategic alliance with brooklyn bureau of community service d/b/a brooklyn community services, another non-profit social services agency in new york city, wherein, brooklyn community services became the sole voting member of the board of directors of turning point brooklyn inc. And its related affiliates. Management and the board believe the alliance will bring financial sustainability to the organization and its programs, under the umbrella of the alliance.”

“Professional services: program service expenses 165,582. Management and general expenses 0. Fundraising expenses 0. Total expenses 165,582. Contracted services: program service expenses 12,259. Management and general expenses 0. Fundraising expenses 0. Total expenses 12,259. Audit services: program service expenses 15,435. Management and general expenses 0. Fundraising expenses 0. Total expenses 15,435. Security services: program service expenses 148,887. Management and general expenses 0. Fundraising expenses 0. Total expenses 148,887.”

“No changes have taken place during the fiscal year ended june 30, 2018.”