Project Renewal Inc.

“There is one class of members. The sole member of project renewal, inc. Is project renewal fund, inc., a new york not-for-profit corporation.”

“At all the meetings of members, the act of a majority of the members present at any meeting at which a quorum is present shall be the act of the members. The property and affairs of the corporation is managed and controlled by the board of directos which is known as the board of trustees. Trustees are divided into terms and are elected into 1, 2, or 3 year terms. The trustees are elected upon the expiration of their term at the annual meeting of members. The persons received the greatest number of votes will be the trustees. Any or all directors may be removed for cause by the sole member.”

“Any or all directors may be removed for cause by the sole member. Any by-law adopted by the board may be amended, repealed, or altered by the members, and any by-law adopted by the members may be amended repealed, or altered by the board, except that the board shall not have the power to adopt any by-law or expand the authorization conferred by any by-law which by statute only the members have the power to so adopt of expand.”

“The form 990 is prepared by a nationally renowned accounting firm in conjunction with the organization's finance department. A draft of the form 990 is reviewed by the organization's cfo and controller, and then presented to the finance committee of the board for review and approval. Upon approval, the form 990 submitted electronically to the full board or directors for review and comments. When all inquiries are addressed, the organization files the form 990 with the internal revenue service.”

“The board of trustee members and key persons will receive a copy of the organization's conflict of interest policy annually and are required to complete, sign and submit a conflict-of-interest disclosure. When a conflict exists prompt disclosure of the circumstances shall be disclosed to the audit committee of the board of trustees. Investigations and the resolution of circumstances determined to be a conflict-of-interest must be documented in the records of the audit committee and board of trustees. All parties involved with a potential conflict of interest are excused from all committee and board discussion and resolution.”

“The compensation committee of the board of trustees utilizes a compensation consulting firm to analyze and report on compensation date from the irs form 990s of similar non-profit organizations and to assist in the committee's review and establishment of compensation for the ceo, the cfo, other key employees, and disqualified persons. The discussion, deliberations, and decisions are recorded in the comittee minutes. The process was last conducted in 2014.”

“Forms 990 and 1023, as well as the financial statements, conflict of interest policy, articles or incorporation, and by-laws are available upon written request of the organization at 200 varick street, 9th floor, new york, ny 10014, or by call the organization at 212-620-0340.”

“Professional fees: program service expenses 11,853,071. Management and general expenses 567,352. Fundraising expenses 178,814. Total expenses 12,599,237.”

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