Part of the Solution Inc.

“Part of the solution has a two-tiered governing structure that includes members. The by-laws of the organization permit between three and eleven members and consist of members of the sisters of charity of new york, timothy boon and maureen sheehan. The primary purpose of the members is to safeguard the mission of part of the solution and act to enact with a 2/3 majority (1) the philosophy according to which part of the solution operates, (2) amend the charter or by-laws, (3)appointment, approval of appointment, or removal of directors, (4)approval of real estate transactions in excess of $35,000, and (5) merger or dissolution of the corporation.”

“Part of the solution does have members who appoint, approve appointment, or remove directors.”

“As noted above, the members are required to approve a decision by the governing body; the approval of real estate transactions in excess of $35,000.”

“Part of the solution has the form 990 tax return prepared by the in-house finance staff, third party tax preparer, or outside certified public accounting firm. The return is then reviewed by the management of part of the solution. The review is performed in conjunction with the review of the prior year tax filings for consistency and accuracy. Upon approval by management of the organization for filing, the 990 tax return is presented to the audit and governance committee of the board of directors. The directors then relay any questions or comments to management and the preparer of the return. Upon approval by the board of directors and senior management of part of the solution, the tax return is filed.”

“Part of the solution has a conflict of interest policy in its agency policy. The policy has been adopted to ensure that any transactions with interested parties are fully disclosed, and reviewed by a committee of the board of directors to ensure that interested parties who have an actual or potential conflict of interest will not participate in decisions or discussions effecting that interest and part of the solution. The board of directors, officers and any possible key employees are required to disclose annually their interest that could give rise to conflicts. In addition, any employee in a position to recommend or decide on a contract or purchase in excess of $5,000 is required to disclose any interest he or she may have in the transaction. The organization regularly and consistently monitors the compliance of the conflict of interest policy by requiring each above noted individual to sign a conflict of interest disclosure form. The chairperson of the board of directors will report to the board of directors that all disclosures have been completed and whether there are any conflicts that have been discovered. Failure by a director to complete an annual disclosure may cause removal from the board of directors.”

“Part of the solution has a compensation policy that consists of the utilization of comparability data, the review and approval by independent parties and contemporaneous substantiation of the deliberation. The director of finance and other management officials of the organization will start by researching comparability data. The research will be utilized to determine a reasonable pay range in the existing marketplace for a certain position. Job posting websites and salary surveys will be utilized when determined necessary by the executive director or the finance committee of the board of directors. Salary range will then be compared to resources of the organization to determine reasonable pay for the position. The final determination of pay will be based on the salary range determined, comparability data, relevant skills and experience of the potential hire and resources of the agency. Final approval of salary compensation for the new hires will be determined by the executive director for non-officer positions. For the filling of officer or executive director, the chair of the finance committee, or the chair of a position search committee, the board of directors will make the final determination. Documentation of the process will occur concurrently with the process as described above.”

“Part of the solution makes its governing documents, conflict of interest policy and financial statements available to the public upon request. The financial statements for the most recent fiscal year, as well as the most recent form 990, are available on part of the solution's website, www.potsbronx.org”

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