Queens College Foundation Inc

“The form 990 was prepared by an independent accounting firm in conjunction with the organization's financial department. A copy of the draft form 990 is circulated to the full board of trustee for discussion and comment. Each board member is provided ample opportunity to comment on the information contained in the 990 prior to it's filing with the internal revenue service.”

“Conflict of interest policy enforcement and monitoring each officer, director, trustee, and key employee of the foundation is required to annually disclose any conflicts of interest that arise by virtue of their employment, board service, or position with the foundation. The foundation monitors compliance with its conflict of interest policy through an annual questionnaire/disclosure statement that is distributed to these individuals. Potential conflicts are investigated immediately. Form 990, part vi, section b, line 13 & 14 whistleblower and docuement retention policies the foundation is serviced by individuals that are compensated by a related party, queens college of the city of new york, and by an unrealted third party, the research foundation of the city of new york. All individuals providing services to the foundation operate under the whistleblower policy and document retention policy of the organization from which they hail. Queens college foundation does not have its own standalone whistleblower or document retention policy.”

“Process for determinig compensation: the foundation does not compensate any of the individuals reported in part vii of the form 990; all officer compensation is paid by a related organization, queens college of the city university of new york. Queens college is a municipal employer and all officer salaries are governed by contracts negotiated between the state, new york city and trade and municipal unions.”

“Public disclosure of documents: the foundation 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 foundation's financial statements, governing documents, and conflict of interest policy will be available to the public upon request and at management's discretion. Form 990, part viii, line 1 the queens college foundation receives contributions from various entities within the queens college of cuny of related entities. These organizations are not related parties of the foundation under a strict interpretation of related party as defined in the 990 instructions; however, in the interest of full diclosure, the foundation is reporting that it received $275,196 in contributions from other cuny entities.”

“Other consultants: program service expenses 1,103,080. Management and general expenses 40,468. Fundraising expenses 3,563. Total expenses 1,147,111.”

“The organization did not change its audit oversight process from prior year.”