Madison Square Park Conservancy Inc.

“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 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. Financial statements are available on mspc's website.”

“Use of facilities under long-term lease -150,000.”

“The audit is reviewed by the organization's executive director, business operations manager, treasurer, and the audit, finance and investment committee and recommends that it be approved by the board of directors. The process has not changed from prior years.”