The New York Bar Foundation

“Certain directors may share business relationships through a partnership or other affiliation with various law firms with whom they are either employed, are partners, or otherwise affiliated. In addition, two directors of the foundation are members-at-large, and one director of the foundation is a key employee, of the new york state bar association, a 501(c)(6) membership organization related to the foundation (see schedule r). These relationships exist in the normal course, without either control or any direct or indirect business interest on the part of these individuals.”

“Persons who are members of the house of delegates of the new york state bar association (see schedule r), whether by election or ex officio, are also members of the foundation.”

“Directors of the foundation are elected at the annual meeting of members and hold office for terms of three years commencing june 1 of the year of election.”

“The form 990 is reviewed by the foundation's audit committee and, subsequently, provided to the foundation's board prior to filing.”

“The foundation has implemented certain written policies, including formal conflict of interest, whistleblower, and record management policies. The written conflict of interest policy is supplemented by the foundation's monitoring and enforcing of conflicts of interest through periodic conflict of interest dosclosure questionnaires and a requiring for continuing board member disclosure.”

“The foundation's compensation policies and practices provide, that with respect to its reimbursed employees, a committee of the board, comprised of independent persons, determine all compensation and compensation related changes based on, among other items, performance, comparability data and other standards and benchmarks. A contemporaneous substantiation of the committee's deliberation and decisions is provided to the board for approval.”

“The organization makes its governing documents and form 990 available to the public upon request.”

“The foundation has no employees and, as such, files no employment tax returns. The new york state bar association (a related organization, see schedule r) employs individuals who work for the foundation and are responsible for the foundation and are responsible for its day-to-day operations. The salaries and related benefit costs for these individuals are reimbursed by the foundation pursuant to an agreement between the two entities. As more fully detailed under schedule r, this agreement provided for the total 2024 reimbursed compensation and benefit costs of $335,797. For form 990 reporting purposes, these costs are included under reimbursed costs in the statement of functional expenses (page 10, part ix, line 24: $408,771) and as fundraising expenses (page 9, part viii, line 8b: $15,166) with a total amount of $423,937.”

“The foundation's audit committee assumes reponsibility for oversight of the audit and the independent auditor.”