384 Grand Street Hdfc Inc

“384 grand street housing development fund corp has one class of membership.”

“384 grand street housing development fund corp's organizing documents have reserved certain rights to the members. Pursuant to the organizing documents, the members have the right to elect the board of directors.”

“The members must approve the following actions: (1) election of directors (majority vote) (2) amendments to the certificate of incorporation or bylaws (majority vote) (3) disposition of substantially all assets, acquisition or sale of real property, merger, or dissolution (two-thirds vote)”

“The form 990 is prepared by an independent accounting firm. A complete copy of the form 990 is provided to each member of the governing body prior to filing. No review of the return is conducted by the board before submission to the irs. A thorough review will be conducted after the form 990 is filed.”

“384 grand street housing development fund corp currently has in place a conflict of interest policy which is monitored and enforced annually. The written conflict of interest policy applies to all board directors and officers. All board directors and officers must annually sign and submit the completed conflict of interest forms to the board for review and disclose any possible potential conflict of interest. An interested person may also disclose any potential conflicts during a board meeting. Any reported conflicts are addressed by the uninterested board directors. The uninterested board directors identify, consider and address the potential conflict of interest, and ultimately vote to determine whether the transaction or arrangement is in the organization's best interest. The interested person would be excused from participating in the review/vote of that particular conflict. The minutes of the meeting of the board shall reflect that the conflict of interest was disclosed and that the interested person was not present during the final discussion or vote and did not vote.”

“384 grand street housing development fund corp makes its form 990 available for public inspection as required under section 6104 of the internal revenue code. The return is posted on guidestar.org. In addition, forms 990 and 1023 as well as the financial statements and conflict of interest policy are available upon written request.”

“The organization contracted with a professional employer organization (peo) for services, including but not limited to, payroll, timekeeping, employee benefits, hr administration and workforce regulatory compliance needs. As the employer of record for tax purposes, forms w-2 and w-3 are issued by the peo and filed under the peo's federal ein. In this co-employment arrangement, the organization is the common law employer and, accordingly, compensation is reported on form 990, part vii, section a and part ix, lines 5-10.”

“Management consultants: program service expenses 12,459. Management and general expenses 166,027. Fundraising expenses 0. Total expenses 178,486. Repairs and maintenance service contracts: program service expenses 13,026. Management and general expenses 0. Fundraising expenses 0. Total expenses 13,026.”

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