Hudson Guildinc

“The delegation of the cfo position was outsourced to an independent firm that works under contract to hudson guild and reports directly to the executive director. The services provided include the following: supervise and manage the fiscal operations of the organization, preparation of the annual budget, oversee the cash management system, and create financial reports for the board of directors and executive management throughout the year. The firm was paid $574,560 during fiscal year 2014. No one listed in part vii or schedule j of the return received compensation from the management company.”

“The organization amended and restated its by-laws as of july 1, 2014. The new by-laws indicate that the organization was originally formed under the new york membership corporation law, now governed under the not-for-profit corporation law and has no members.”

“The hudson guild executive committee has authority to act on behalf of the governing body except when prohibited by law. Minutes of executive committee meetings are not retained, provided that the executive committee has determined in good faith to wait for the next regular scheduled board meetings or calling a special meeting with the board warrented. However, during the tax year, all matters voted by the executive committee were also submitted to the full board for consideration and vote, and were reflected in the board of trustee minutes. During the tax year, no decisions were made solely by the executive committee.”

“Hudson guild's 990 is prepared by an independent audit firm. When the form 990 has been prepared, reviewed by management and is ready to be filed with the internal revenue service, it is then provided to each member of the board of trustees via e-mail, and responses solicited prior to filing.”

“Hudson guild, inc. Currently has in place a conflict of interest policy which it annually monitors and enforces. All members of management and the governing body annually sign a conflict of interest policy and disclose any potential or actual conflicts that may exist. The signed conflict of interest policy is kept on file. A trustee, officer or member of the administration shall not participate in the consideration of or vote on any contract or other transaction relating to hudson guild in which he or she has a material interest, direct or indirect, and an appropriate record shall be made of such abstention and the reason therefore.”

“When determining an adjustment to the executive director's compensation, the president of the board of trustees with assistant from the executive committee, reviews and determines a proposed change in the salary based on a review on salary comparability data. The compensation adjustment is then discussed and voted on by the full board of trustees and documented in the minutes. Other management staff compensation is reviewed and determined by executive director and approved by the board as part of the annual budget approval process. The process was last time undertaken in 2014.”

“Hudson guild, inc. Makes its form 990 and form 1023 available for public inspection as required under section 6104 of the internal revenue code by posting it on their website as well as guidestar.org and other similar types of websites. In addition, forms 990 and 1023 as well as the financial statements, conflict of interest policy and governing documents are available upon written request at 441 west 26th street, new york, ny 10001 or by calling the organization directly at (212) 760-9800.”

“The organization has a committee that assumes responsibility for oversight of the audit of its financial statements and selection of an independent accountant. This process did not change from the prior year.”