Hudson Guildinc

“An independent firm provides fiscal management services 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 $555,119 during fiscal year 2019. No one listed in part vii or schedule j of the return received compensation from the management company.”

“Hudson guild currently has three board committees that are authorized to act on behalf of the board in certain very limited circumstances set forth in the hudson guild by-laws. With respect to contemporaneous documentation of any such actions, the by-laws require that minutes be maintained regarding any such committee action except that such requirement may excused if the committee reports on the committee action at the next regularly scheduled full board meeting, the minutes of such full board meeting includes a description of the committee action and the approval of such minutes includes a majority of the committee members who took the action. During the tax year, hudson guild complied with these documentation requirements to the extent applicable.”

“Hudson guild's form 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 are 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.”

“Under the by-laws, when determining an adjustment to the executive director's compensation, the president of the board of trustees with assistance from the nominating/governance 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 executive committee and documented in the minutes. The process for determining compensation for the executive director was last undertaken in september 2018, and implemented in january 2019 for the period covered by this report. Other management staff compensation is reviewed and determined by the executive director and approved by the board as part of the annual budget approval process.”

“Hudson guild, inc. Makes its form 990 and form 1023 available for public inspection as required under section 6104 of the internal revenue code. The return is posted 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.”