New York Metropolitan Reference and Research Library Agency

“The organization has three types of members: 1) full members, with voting rights 2) collegial members, with no voting rights 3) associate members, with no voting rights”

“Whenever any corporate action, including the election of the trustees is to be taken by vote of the full members, it shall be authorized by a majority of the votes cast at such meeting, except as otherwise required by law or by the by-laws.”

“The organization has its 990 prepared by an outside accounting firm and has established the following review process to ensure that the information reported is complete and accurate. When the form 990 has been prepared, reviewed by management and is ready to be filed with the internal revenue service, it is electronically distributed to members of the organization's governing board for any comments prior to its submission. Any comments are then grouped, summarized and provided to the committee in charge of filing the return for their review. Each issue is documented and addressed before the return is finalized and is approved for filing.”

“The organization currently has in place a conflict of interest policy which it annually monitors and enforces. The board currently mandates that 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 submitted to the organization's general counsel who reviews the signed attestations for potential or actual conflicts. If a potential or actual conflict of interest exists, the general counsel will notify a member of management or the governing body about such conflict and investigate the conflict. The results of the investigation will be summarized and documented by the general counsel and be reported to the governing body. If the general counsel establishes that an actual conflict exists, the member of management or the governing body will be notified immediately and will not be allowed to vote or be a part of any decision making regarding such transactions that has to do with the conflict until such time there is no longer a conflict.”

“The executive committee of the board is responsible for the annual review and approval of the executive director's compensation. The committee compared the executive director's compensation to other similar executives at his level in similar organizations. In the past, the treasurer completed a salary analysis of at least three similar organizations. The executive committee reaches out to the executive director to let him know how much the board approved. This process was last undertaken in fy2016 and documented in the minutes of the board meetings.”

“The organization makes its form 990 available for public inspection as mandated under section 6104 of the internal revenue code by posting it on guidestar.org and other similar websites, as well as having it available to the public upon request. In addition to form 990, the financial statements as well as the conflict of interest policy are available upon written request at 57 east 11th street, new york, ny 10003 or by calling the organization directly at (212) 228-2320.”

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