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: supervision and management of the fiscal operations of the organization, preparation of the annual budget, oversight of the cash management system, and the creation of financial reports for the board of directors and executive management throughout the year. The organization incurred $591,120 for these services during fiscal year 2021. 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 outside accounting firm and reviewed by the executive director and deputy executive director. A complete copy of the form 990 is electronically provided to all members of the board of trustees for their review prior to filing the return with the irs.”

“The organization's conflict of interest policy covers the board of trustees and key employees who sign an annual disclosure statement and disclose any potential or actual conflicts that may exist. The disclosure statements are provided to the executive director, who provides them to the chair of the audit & finance committee and the secretary. Interests are reviewed and conflicts are determined by the audit and finance committee. If the interest rises to the level of a conflict of interest, the transaction is reviewed and approved or disapproved by the audit & finance committee. Any person with a conflict must refrain from voting and improperly influencing decisions on the matter.”

“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, such as united neighborhood houses salary survey and form 990s of other organizations. 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 june 2021.”

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

“Loss on uncollectible pledge -140,068.”

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