Lia Foundation Inc

“The form 990 was prepared by a national tax firm in conjunction with the organization's financial department and was provided to the president/ceo, the chairman and the treasurer of the board of directors and the chief financial officer for initial review. Once the final draft is complete, copies are made available to the chairman of the board and the treasurer prior to its filing with the internal revenue service (irs). Once filed with the irs, copies are made available to the executive committee and the audit and finance committee.”

“The foundation has a conflict of interest policy in place that governs the activities of the foundation's officers, trustees and employees. Each officer, director, trustee and key employee is required to annually disclose any conflicts of interest that arise by virtue of employment, board service, or position with the association. These questionnaires are reviewed to ensure compliance with the foundation's conflict of interest policy. No conflicts have been uncovered within the covered year; to the extent any potential conflicts are found, the foundation reviews them immediately. The association follows policies and procedures to ensure that related-party transactions are appropriately reviewed and disclosed within the audited financial statements.”

“Lia foundation, inc. Does not compensate any of the officers reported on the form 990; that compensation is paid by long island association, inc. (an affiliated organization). The process that lia undertakes to determine compensation is as follows: the foundation's president & ceo's compensation is reviewed and approved annually by the executive committee of the board of directors. Since the president & ceo sits on the board of directors, he is required to recuse himself from any discussions related to his compensation. The president does not participate nor does he vote on his own compensation. All compensation decisions are documented via email and forwarded to the cfo.”

“The association makes its form 990 available to the public by retaining a copy at its place of business. The form 990 is likewise published on the internet at www.guidestar.org. The organization's financial statements, governing documents and conflict of interest policy are not ordinarily made available to the public, but, if requested, will be provided at management's discretion.”

“ROUNDING 21.”