Discalced Inc.

“The executive director, nancy umanoff and production manager, johan henckens have a family relationship.”

“Discalced, 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's submitted electronically to members of the organization's governing body for any comments prior to its submission. The governing body is provided with one week to review the prepared form 990 and provide their comments. Any comments are then grouped, summarized and provided to the executive committee in charge of filing the return for their review. Each issue is documented and addressed until the return is finalized and approved for filing.”

“The board of directors has adopted a conflict of interest policy as an operating principle to assure that the organization's affairs are managed in an ethical manner, free from the temptations for personal gain which conflicting desires may provide. Discalced, inc. Expects all directors, officers, and key employees (if any) to exercise good judgment and the highest ethical standards in their private activities outside the organization, which in any way can affect discalced, inc. In particular, every director, officer, and key employee (if any) has an obligation to avoid any activity, agreement, business investment or interest, or other situation which is in conflict with discalced, inc.'s interests or interferes with the duty to serve the organization at all times to the best of the person's ability (a "conflict of interest"). To implement this principle and to establish clear guidelines, the following policy has been adopted. 1. No director, officer, or key employee (if any) shall furnish services to or seek or receive, for personal or any other person's gain, any payment, whether for services or otherwise, loan (except from a bank), gift or discount of more than nominal value, or entertainment which goes beyond common courtesies usually associated with accepted business practice, from any business enterprise which is a competitor of discalced, inc. Or has current or known prospective dealings with the organization as a supplier, customer, lessor or lessee, except with the prior written approval of the executive director/president or board chair following complete disclosure of the facts to the board of directors. 2. No director, officer, or key employee (if any) shall for personal or any other person's gain deprive discalced, inc. Of any opportunity for benefit which could be construed as related to any existing or reasonably anticipated future activity of the organization. 3. No director, officer, or key employee (if any) shall for personal or any other person's gain make use of or disclose confidential information learned as a result of their association with discalced, inc. 4. No director, officer, or key employee (if any) (each an "interested person") shall have a direct or indirect financial interest in, or receive any compensation or other benefits as a result of, transactions between any individual or business firm: (a) from which discalced, inc. Purchases supplies, materials or property; (b) which renders any service to discalced, inc.; (c) which enter into leases or assignments to or from discalced, inc.; (d) to which discalced, inc. Sells any of its products, materials, facilities or properties; (e) which has any other contractual relations or business dealings with discalced, inc. (each a "related party transaction"); except with the prior written approval of the executive director/president or board chair upon complete disclosure of the facts to the members of the board of directors. The financial interests mentioned above do not include interests in corporations listed on a national stock exchange or traded over the counter, provided the financial interest is one percent or less of said corporation's outstanding shares. 5. Discalced, inc. Shall not enter into any related party transaction without a written determination from the board, or a committee appointed by the board, that the transaction is fair, reasonable, and in discalced, inc.'s best interest at the time of such determination. In connection with any actual or possible conflict of interest, an interested person must immediately disclose in good faith the existence of her or his, or her or his relative's or related business entity's, financial interest and all material facts in good faith to the executive director/president, board chair, or any committee designated by the board considering the proposed transaction or arrangement. After disclosure of the financial interest and all material facts, and after any discussion with the interested person, he/sh”

“Discalced, inc. Has a compensation policy and a compensation committee was established for determining the compensation for the executive director, cfo, and other key employees (if any). The policy mandates that executive compensation be periodically reviewed by the compensation committee and that the committee should be free of conflicts of interest. The approving compensation committee reviews appropriate and adequate data and uses a variety of information and studies that are available to determine that the appropriate level of compensation is being paid to its executives and key employees (if any). The sources that the organization used to establish compensation are dance usa, non-profit coordinating committee and professionals for nonprofits. The compensation committee's decision on the amount of compensation paid is required to be adequately documented in a contemporaneously written format that documents the date of the decision, the members present during the decision and those who voted on it, the full terms of the compensation that was approved and the comparable data used and relied upon to make the decision. The process was last time undertaken in fy2019.”

“Discalced, inc. 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 at 3 lafayette avenue, brooklyn, ny, 11217, or by calling the organization directly at (718) 624-8400.”

“Discalced, inc. Has a committee that is responsible for oversight of the audit of its financial statements and selection of an independent accountant. This process has not changed from the previous year.”