Philanthropy New York Inc

“Any organization or individual with an organized philanthropic program or that advises such programs may become a member of the corporation by the vote of the members or by the vote of the board of directors or by staff accepting members according to procedures and standards set by the board of directors.”

“Board members are elected each year at the organization's annual meeting. The slate is recommended to the board by the governance and nominations committee after a thoughtful interview process. The board then recommends the slate to the entire membership for a vote.”

“By-laws may be amended or repealed, and new by-laws may be adopted, (1) by the members at the time entitled to vote in the election of any directors, at any annual meeting of the members or at any special meeting of the members called for that purpose. Any by-law adopted by the board may be amended or repealed by the members entitled to vote thereon as herein provided, but a by-law adopted by the members may provide that such by-law shall not be subject to amendment or repeal by the board. If any by-law regulating an impending election of directors is adopted, amended or repealed by the board, there shall be set forth in the notice of the next meeting of members for the election of directors the by-law so adopted, amended or repealed, together with a concise statement of the changes made, so adopted, amended or repealed, together with a concise statement of the changes made.”

“The organization has its form 990 prepared by an outside accounting firm and has established the following review process to ensure that the information reported is complete and accurate. After the form 990 has been prepared, a copy is reviewed by management in partnership with the audit firm that prepared the return. Prior to filing the form 990, the audit committee of the board meets to review and approved the form. Once the board has approved the return it is filed with the internal revenue service.”

“Conflict of interest forms are required to be filled out annually by both board members and all employees. The director of finance and administration reviews the forms against the organization's list of vendors to determine if there are any potential conflicts. If there is a conflict of interest, management follows the conflict of interest policy outlined in philanthropy new york's handbook. This was last completed in december 2024. Possible conflicts are reported to the ceo and the ceo reports it to the board chair. Moreover, the person having a conflict shall retire from the room in which the board (or its committee) is meeting and shall not participate in the final deliberation or decision regarding the matter under consideration. However, that person shall provide the board or committee with any and all relevant information.”

“The ceo's compensation is approved by the executive committee of the board. The board revisits the ceo's compensation annually as part of the ceo's evaluation process. The ceo's compensation band (the minimum threshold and maximum of what the organization will pay the ceo) is updated every two years as part of the organization's compensation philosophy. The update is the result of a benchmarking analysis that uses data from the nonprofit new york and united philanthropy forum salary surveys, using a representative sample of similarly sized nonprofit organizations and public service organizations. This process was most recently undertaken in 2024. Following the ceo's performance review, the board makes decisions about any compensation increases in executive session, and the decision is documented in an email from the executive committee member (most often the board chair) and sent to the hr consultant and the finance director. Philanthropy new york maintains a compensation philosophy that details the skills, qualifications and experience required for all positions, including senior leadership, within the organization. Every year in which it is fiscally possible, employees receive a cost-of-living adjustment. The salary bands in the compensation philosophy are updated every two - three years as part of a benchmarking analysis that uses data from the nonprofit new york and united philanthropy forum salary surveys, using a representative sample of similarly sized nonprofit organizations and philanthropy serving organizations. Salaries are updated accordingly, documented in the organization's annual budget narrative and approved by the ceo. This information is included in a total salary figure which is reviewed by the finance committee and approved by the full board. This process was last undertaken in 2024 and is documented in the finance committee and board meeting minutes.”

“The organization makes its form 990 available for public inspection as required under section 6104 of the internal revenue code. The return is also posted on guidestar.org and other similar types of websites. In addition, the financial statements, conflict of interest policy, articles of incorporation and by-laws are also available upon written request or by calling the organization directly.”

“Philanthropy new york is a membership association of philanthropic institutions that champions effective grantmaking by building a vibrant philanthropic ecosystem that strives to advance meaningful social change. Through our work, we catalyze: *community: we bring together philanthropic professionals to share across issues and across professional roles. *learning: we design robust programming and professional and leadership development that equips our members to understand and adapt to shifting norms and emerging trends in the field. *leadership: we leverage the power of our members' collective voice to strengthen the nonprofit ecosystem.”

“Payroll services: program service expenses 9,335. Management and general expenses 2,348. Fundraising expenses 201. Total expenses 11,884. Subcontracted services: program service expenses 58,903. Management and general expenses 3,721. Fundraising expenses 320. Total expenses 62,944. Speaker honorariums: program service expenses 5,325. Management and general expenses 0. Fundraising expenses 0. Total expenses 5,325. Fiscal sponsor services: program service expenses 999,120. Management and general expenses 69,405. Fundraising expenses 5,971. Total expenses 1,074,496. Business mgmt and strategies services: program service expenses 287,910. Management and general expenses 18,554. Fundraising expenses 1,596. Total expenses 308,060. Public policy services: program service expenses 72,820. Management and general expenses 4,693. Fundraising expenses 404. Total expenses 77,917. Other consulting services: program service expenses 323,582. Management and general expenses 20,853. Fundraising expenses 1,794. Total expenses 346,229.”

“The organization has a committee that is responsible for the oversight of the audit of its financial statements and the selection of an independent accountant. This process has not changed from the prior year.”

“In 2024, pny restated its 2023 financial statements in order to properly reflect certain revenues related to fiscal sponsorships that were not properly recognized in the correct fiscal year. In addition, pny determined that lease asset and lease liability were incorrectly recorded which also resulted in a misstatement of beginning right of use asset and lease liability balances. The adjustments from these restatements resulted in a prior period adjustment of $453,263.”