Madison Square Park Conservancy Inc.

“The board of directors of the conservancy, per the organization's by-laws, has designated from among its members, an executive committee. This committee has all the authority of the board, except to the following matters: 1. The submission to the board of directors of any action requiring directors' approval under the law; 2. The filling of vacancies in the board; 3. The amendment or repeal of the by-laws, or the adoption of new by-laws; 4. The amendment or repeal of any resolution of the board which by its terms, shall not be so amendable or repealable. The committee will consist of the board chairperson, the officers of the board and the heads of the standing committees. The board chairperson may recommend to the executive committee that additional members be appointed, subject to board approval.”

“The 990 is reviewed by the organization's executive director, business operations manager, treasurer, and the audit, finance and investment committee. The final 990 is provided to the board of directors prior to filing.”

“Per the organization's by-laws, a conflict of interest is deemed to exist whenever an individual is in the position to approve or influence corporation policies or actions which involve or could ultimately harm or benefit financially: a. The individual; b. Any member of his immediate family; or c. Any organization in which he or an immediate family member is a director, trustee, officer, member, partner or more than 10% shareholder. A director or officer who has or learns about a potential conflict of interest should disclose promptly to the secretary of the corporation the material facts surrounding any actual or potential conflict of interest. Following receipt of information concerning a contract or transaction involving a potential conflict of interest, the board will consider the material facts concerning the proposed contract or transaction and will approve only those contracts or transactions in which the terms are fair and reasonable to the corporation and the arrangements are consistent with the best interest of the corporation. Any contract or transactions must be approved by a vote without counting the vote(s) of interested parties. When/if such issues arise, they are brought to the attention of the executive committee for vetting and, if deemed necessary, would be brought to the attention of the full board. Any interested parties would be recused from such discussions when applicable.”

“The executive committee vets and approves compensation packages for the president/executive director and senior staff (i.e. President; chief operating officer; chief of staff) on an annual basis. The committee reviews a compensation chart representing senior leadership positions in similarly sized organizations in nyc. This chart is updated annually with current information through review of guidestar, 990's, ny non-profit network annual salary survey, and phone calls to other organizations to collect data.”

“These documents are available to the public upon request.”

“Other professional fees: program service expenses 11,800. Management and general expenses 2,538. Fundraising expenses 500. Total expenses 14,838. Public relations services: program service expenses 47,127. Management and general expenses 32,615. Fundraising expenses 2,535. Total expenses 82,277. Photographer fees: program service expenses 15,000. Management and general expenses 0. Fundraising expenses 0. Total expenses 15,000. Art exhibition costs - artist fees, fabrication, installation: program service expenses 648,361. Management and general expenses 0. Fundraising expenses 0. Total expenses 648,361. Park security: program service expenses 308,709. Management and general expenses 0. Fundraising expenses 5,802. Total expenses 314,511. Park maintenance - landscaping, arborists: program service expenses 273,610. Management and general expenses 0. Fundraising expenses 0. Total expenses 273,610. Performance fees and technical production services: program service expenses 153,505. Management and general expenses 275. Fundraising expenses 1,475. Total expenses 155,255. Other program consultants: program service expenses 55,191. Management and general expenses 0. Fundraising expenses 0. Total expenses 55,191. Artist - studio: program service expenses 3,000. Management and general expenses 0. Fundraising expenses 0. Total expenses 3,000.”