Nyst Benefit Fund Inc

“The fund has members that vote to elect the board of directors.”

“The fund's members elect the board of directors at the regular meeting of the members. The board of directors are elected by a plurality of the votes cast by the members.”

“Major changes in the organization require approval by the organization's members.”

“The organization's board president reviews the form 990 along with the draft of the audited financial statements with the outside auditor approximately one week before the form 990 is filed with the internal revenue service.”

“After conducting due diligence, the board shall determine by a majority vote of the disinterested trustees whether the transaction or arrangement in question is in the organization's best interest and for its own benefit and whether the transaction or arrangement is question is in the organization's best interest and for its own benefit and whether the transaction is fair and reasonable to the organization and shall make its decision as to whether the enter into or allow the transaction or arrangement in conformity with such determination and possible actions to be taken. As part of its due diligence efforts, the board shall determine whether the organization can obtain an equally advantageous transaction or arrangement with reasonable efforts from a person or entity that would not give rise to a conflict of interest. Individuals who knowingly violate and/or refuse to abide by this policy may be subject to termination of their relationship with the organization.”

“The executive board annually approves the president's compensation. The executive board bases its review of the president's compensation on comparable compensaton paid by other similar organizations. The organization did not compensate the board president during the year.”

“The executive board annually approves the officers' compensation. The executive board bases its review of the officers' compensation on comparable compensaton paid by other similar organizations. The organization did not compensate the officers during the year.”

“The organization makes its governing documents, conflict of interest policy, form 1024, financial statements, and form 990 available upon request. Interested parties should contact the president at 120 state street, albany, ny 12207 to request a copy of any of the documents.”