Hudson Guildinc

“Btq financial 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 trustees and executive management team throughout the year. The organization incurred $658,788 for these services during fiscal year 2024. No one listed in part vii or schedule j of the return received compensation from the management company.”

“Hudson guild's form 990 is prepared by an outside accounting firm and reviewed by the executive director and chief operating officer. 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 (which includes employees who are officers of the organization). Such persons sign an annual disclosure statement and disclose any potential or actual conflicts that may exist. Disclosures are reviewed and conflicts are determined by the audit and finance committee. If the interest rises to the level of a conflict, the transaction is reviewed and approved or disapproved by the audit and finance committee. Any person with a conflict must refrain from voting and improperly influencing decisions on the matter.”

“Line 15a: 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 the proposed change in salary based on a review of comparability data, such as a salary surveys and form 990s of other organizations. The compensation adjustment is discussed and voted on by the executive committee of the board and documented in the minutes. In fy24, the executive director's compensation was subject to a three- year fy21 retention bonus agreement set by the executive director and approved by the board of trustees, in which base salary remained flat with a bonus obtained at the end of the agreement. The fy21 salary that remained in place through fy24 was determined by the executive committee with assistance from the nominating/governance committee, based on a review of comparability data such as salary surveys and form 990s of other organizations. The compensation adjustment at that time was discussed and voted on by the executive committee and reported to the board and documented in the minutes. Line 15b: the compensation of the chief operating officer is reviewed and determined by the executive director, and approved by the board of trustees as part of the annual budget approval process.”

“The organization makes its form 990 available for public inspection as required under section 6104 of the internal revenue code. The return is posted on the organization's website, as well as guidestar.org and other similar types of websites. In addition, the form 990, financial statements, conflict of interest policy, and governing documents are available upon written request or by calling the organization directly.”

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