Kendal on Hudson

“Kendal new york (kny), a related 501(c)(3) public charity, and phelps community corporation, also a 501(c)(3) organization, are the two members of kendal on hudson (koh).”

“The members have decision-making authority over debt and major contractual changes.”

“The form 990 was prepared by an independent accounting firm in conjunction with the organization's financial department. A copy of the draft form 990 was circulated to the full board of directors for discussion and comment. Each board member was provided the opportunity to comment on the information contained in the form 990 prior to its filing with the internal revenue service.”

“Each officer, director, committee member, and key employee is required to disclose any potential conflicts of interest that arise to the board of directors. Koh monitors compliance with its conflict of interest policy through a duty to disclose as stated in the policy as well as a formal annual questionnaire/disclosure statement that is distributed to these individuals. Potential conflicts are investigated immediately. The members of the board without a potential conflict make the determination as to whether a potential conflict is an actual conflict. The person with the potential conflict, or if determined an actual conflict, is recused from any discussion and vote related to the conflicted matter. The policy states that family and business relationships are sources of potential conflicts of interest.”

“Koh undertakes a process to ensure that the executive compensation it pays to its top management officials and all the other officers and key employees of the organization is reasonable given the market in which koh operates. In 2021, koh performed a comprehensive compensation study performed by a third-party, lockton companies, to develop and assist with implementing a new compensation strategy. Lockton companies utilizes data from published compensation studies with specific attention to geography, industry and size. Included in the compensation study were market data for personnel inclusive of top management. Under the direction of the chair of the board and acceptance by the full board, utilizing the compensation data from lockton companies, ceo and cfo compensation was determined. The deliberation and determination of ceo compensation is timely documented in the board minutes for 2022.”

“The financial statements, governing documents and conflict of interest policy are not ordinarily made available to the public, but, if requested, will be provided at management's discretion.”

“System services: program service expenses 1,015,044. Management and general expenses 0. Fundraising expenses 0. Total expenses 1,015,044. Purchased services: program service expenses 2,466,310. Management and general expenses 1,056,990. Fundraising expenses 0. Total expenses 3,523,300.”

“Contribution - financial statement net asset transfer -163,369.”