Shared Interest Inc

“Once a tentative form 990 is prepared, the organization forwards an electronic copy to each of the members of the executive committee of the board of directors. Accompanying the draft form is a narrative which included highlights of any changes in the form from the prior year version. Convening by conference call, the executive committee reviews the draft paying particular attention to governance issues and financial issues to the extent they have bearing on the preservation of the organization's tax exempt status. Once the committee is satisfied, their input is reflected in the draft form, a copy of the 990, and all of its schedules, is forwarded to each member of the full board with instructions that, should they have comments, they need respond as soon as possible so that the final document is filed timely.”

“Every year, before its november annual meeting, shared interest distributes a conflict of interest form to each member of the board and requires that each board member complete and return it prior to the conclusion of the meeitng. The form seeks disclosure of any conflict of interest in the context of irs guidance to the form 990 and its glossary defining key terms.”

“Shared interest's board members, with the exception of a single non-voting officer/employee (the organization's executive director), serve voluntarily and receive no compensation save for a reasonable reimbursement of expenses related to their work as board members. Every two years, the board's personnel committee reviews existing salary ranges for all of shared interest's employees and sets those ranges anew based on comparability studies and data from like organizations in the new york city area. After determining the ranges, the committee makes recommendations for adoption by the full board and sees to it that salaries of all hires fall within policy parameters. Should a board member, on a one-off basis, apply for compensation that could possible be interpreted as presenting a conflict of interest, the board will refer to its written policy document and proceed to address the issue in the manner prescribed. After disclosure of the financial interest and all material facts, and after any discussion with the interested party, s/he must leave the board of directors or committee meeting while the determination of a conflict of interest is discussed and voted upon by disinterested members. In their deliberations, the board of directors or committee members shall determine whether the organization can obtain with reasonable efforts a more advantageous transaction or arrangement from a person or entity that would not give rise to a conflict. If a more advantageous transaction or arrangement is not reasonably possible under circumstances not producing a conflict of interest, the board or any committee shall determine by majority vote of disinterested directors whether the transaction or arrangement is in the organization's best interest, for its own benefit, and whether it is fair and reasonable and at arm's length. Only then will the applicant and the organization sign an agreement resulting in compensation to the board member applicant.”

“All of shared interest's governing documents, the conflict of interest policy and financial documents are available to the public at no charge for photocopying or printing. While we have not yet had anyone ask to inspect our documents in the office, we would be pleased to make these available on our premises at a mutually convenient time. While we have not yet had anyone ask to inspect our documents in the office, we would be pleased to make these available on our premises at a mutually convenient time. While interested parties generally find our form 990 either on our own website or that of the nys attorney general, shared interest also makes its annual report, which contains its most recent audited financials, available on its own site (and also mails and emails copies to all supporters for whom it has either street or electronic addresses).”

“Consultants: program service expenses 354,720. Management and general expenses 26,700. Fundraising expenses 0. Total expenses 381,420.”

“There has been no change in oversight or the selection process.”