The Music Conservatory of Westchester

“The executive director, finance director, and treasurer review and compare the 990 to the financial statements before the return is signed and electronically filed with the irs. The return is also reviewed by the conservatory's finance committee and the board of trustees prior to its filing.”

“Review of conflict of interest policy - a) each trustee, officer, employee and volunteer shall be provided with and asked to review a copy of this policy and to acknowledge in writing that he or she has done so. B) annually each trustee, officer, employee and volunteer shall complete a disclosure form identifying any relationships, positions or circumstances in which he or she is involved that he or she believes could contribute to a conflict of interest. Such relationships, positions or circumstances might include service as a trustee of or consultant to another nonprofit organization, or ownership of a business that might provide goods or services to mcw. Any such information regarding the business interests of a trustee, officer, employee or volunteer, or a family member thereof, shall be treated as confidential and shall generally be made available only to the executive director or president of the board chair, the executive trustee, committee appointed to address conflicts of interest, except to the extent additional disclosure is necessary in connection with the implementation of this policy. Prior to board or committee action on a contract or transaction involving an actual or potential conflict of interest, an interested person having a conflict of interest and who is in attendance at the meeting shall disclose all facts material to an actual or potential conflict of interest. Such disclosure shall be reflected in the minutes of the meeting, if minutes are routinely kept or shall be disclosed in a letter or memorandum delivered to the executive director. If board members are aware that staff or other volunteers have a conflict of interest, relevant facts should be disclosed by the board member or by the interested person him/herself if invited to the board meeting as a guest for purposes of disclosure. C) this policy shall be reviewed annually by each member of the board of trustees. Any changes to the policy shall be communicated to all staff and volunteers.”

“The board of trustees determines the executive director's compensation; the executive director determines compensation for senior management personnel, and approves all salary decisions. A total figure for staff compensation is approved by the board of trustees as part of the annual budget process. The fy 2024 budget was approved at the april, 2023 board meeting and is reflected in the minutes. In october 2023, a review was completed for all senior level (executive director, dean of students, vp development, directors of finance and mti onsite and outreach)and mid-level managers and support staff. Salaries were guided by nonprofit industry standards, with information available thorugh published national surveys conducted by the national guild for community arts education, and by published job listings in the field.”

“Governing documents as well as the form 990 and conflict of interest policy are made available at the music conservatory of westchester's offices and are available to public inspection upon request.”

“The conservatory has a committee with responsibility for the oversight of the audit of its financial statements and selection of its independent auditor. The policy for selection and oversight of the independent auditors has not changed since last year.”