New Destiny Housing Corporation

“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. 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 and then filed with the internal revenue service.”

“New destiny housing corporation (new destiny) and all persons either elected or appointed to a new destiny office (includes, but not limited to, any board officers, directors and committee members) shall conscientiously avoid any situations and activities where their personal interest could conflict, or appear to conflict, with the interests of new destiny. A conflict of interest is any opportunity for personal gain in dealing with or on behalf of new destiny apart from nominal reimbursement of expenses according to new destiny policy. In the event that any officer, director or committee member of new destiny shall have any direct or indirect interest in, or relationship with, any individual or organization which proposes to work with or transact any business with new destiny, such person shall give or notice of such interest or relationship to the board and shall thereafter refrain from discussing or voting on the particular transaction in which she or he has an interest or otherwise attempting to exert any influence on new destiny to affect a decision whether to participate in such transaction. New destiny will disclose the policy to candidates for the board and will obtain re-affirmation of the policy from existing members of the board or committees annually. Failure to comply with the policy may be grounds for removal from the board and/or committees.”

“The board of directors reviews and approves all executive compensation arrangements. When hired, the board used comparable market data, including form 990s from similar organizations and compensation surveys to determine the executive director's compensation. The board only determines the executive director's salary at the time of hire and will review the salary after hire as needed. The executive director in conjunction with the deputy executive director and cfo are responsible for setting salaries of other staff. The executive director determines all executive staff salaries and pay increases or adjustments, which include both the deputy executive director and cfo. Salary increases of all staff, including the above officers, were part of the ndhc fy2024 operating budget that was approved by the board of directors at the board meeting that was held in may 2024. The review and approval are reflected in the 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 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.”

“The organization amended its form 990 for fy 24 and the following changes were made: 1. Form 990, part iv - lines 4 and 9 were checked yes for the required schedules that were disclosed within the 990 2. Form 990, part ix - line 11d includes the amount of lobbying incurred for fy24. 3. Schedule c, part ii-b - lines 1b, 1g and 1j were completed for the amount of lobbying incurred for fy24.”

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

“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.”