Phelps Community Foundation Inc

“Phelps community corporation, inc. 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. When the form 990 has been prepared, reviewed by management and is ready to be filed with the internal revenue service, it is electronically sent to the board members of the organization for any comments. Any comments are then grouped, summarized and provided to the outside accountants. Each issue is documented and addressed until the return is finalized and approved for filing.”

“All governing board members, senior management and other personnel who might find themselves in a position where their personal interests conflict with the interests of phelps community corporation are required to file an annual conflict of interest disclosure statement with the compliance officer, and immediately disclose to the compliance officer any possible conflicts of interest as they arise. It is the responsibility of the compliance officer to obtain and review conflict of interest disclosure statements at least annually. The compliance officer, as necessary, will consult with outside counsel and report to the audit committee of the board of directors. Such governing board members, senior management and other personnel having a potential conflict of interest in a particular transaction shall refrain from voting or otherwise attempting to affect the board's decision whether or not to participate in such transaction.”

“The organization 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 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 at 701 north broadway, sleepy hollow, ny 10591 or by calling the organization directly at (914)-366-3000.”

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