Interfaith Center of New York Inc.

“The proposed filing is prepared by the audit firm and is reviewed by the board's audit and finance committee, consisting of a board co-chair, the treasurer as chair of the committee, two other board members and the executive director. After approval and recommendation for filing, the proposed form 990 is then distributed to the full board for its review; after the board review and if, there are no proposed changes to the form 990, the executive director and the treasurer authorizes the form 990 for filing with the irs.”

“Any current director, officer or key employee of the organization or any of its affiliates or any relative of such person is required to report all possible conflicts of interest in writing to the board, the chairperson of the audit committee of the board, and the executive director of the organization. The board, or authorized board committee, reviews the facts and circumstances of the possible conflict to determine if a conflict exists. No related party may be present for, or participate in, any deliberation or voting relating to a possible conflict of interest matter. The board, or any authorized committee thereof, will document in writing in applicable meeting minutes, the names of persons disclosing an actual or possible conflict of interest, the nature of the conflict, and actions taken to determine if a conflict exists. The board minutes will also contain the names of persons present for deliberations and voting relating to the existence and resolution of any conflict of interest, and the basis for the decision of the board or board committee with respect to a conflict of interest, including any consideration of alternative transactions or arrangements. Prior to the initial election of any director or initial appointment of any officer or key employee, and annually thereafter, each director or officer will complete, sign and submit to the organization a written statement to disclose any potential conflicts of interest. Additionally, this written statement also affirms that each person has received a copy of the conflict of interest policy, has read and understands the policy and has agreed to comply with the policy. This annual attestation is maintained in the books and records of the organization.”

“The compensation of the executive director and the founder and the chairman emeritus are reviewed annually by the compensation committee of the board of directors. The executive committee of the board also serves as the compensation committee. With the exception of the founder and chairman emeritus, all members of the board of directors are independent of the center. In fye 6/30/08, the committee established the current executive compensation levels using salary survey results 2007 that was issued by the nonprofit coordinating committee, a membership and service organization for nonprofit organizations in the ny metropolitan area. Annually thereafter, the committee reviewed the salary structure during the budget review process, and has maintained the same executive salary structure and levels as established in 2007. Decisions made by the committee regarding establishment of the executive compensation in 2007, and the annual budget approvals are documented in the board minutes and retained in the organization's books and records.”

“Financial statements are available through the organization's website and upon request. Its' governing documents and conflict of interest policy are available upon request.”

“The center's audit and finance committee assumes responsibility for the oversight of the audit and for the selection of an independent accountant. The process has not changed from the prior year.”