Long Island City Business Improvement

“The organization shares office facilities and employees with long island city partnership, inc. (licp). Licp is a not-for-profit corporation organized for the purpose of enhancing long island city. The organization has a management agreement with licp. The agreement provides for provision of specific services by licp for the organization. The agreement allows termination at any time with written consent and due notification of both parties. The agreement provides for fees and reimbursements based upon the organization's approved budget. During the year ended june 30, 2021, the organization paid licp $244,007 in management fees.”

“Property owners, commercial tenants, and residents are eligible for free membership by filling out a registration card or form.”

“Registered members elect the board of directors at the organization's annual meeting.”

“The form 990 has been reviewed by a group of persons authorized to review financial and audit matters prior to filing. The final form 990 (filed with the irs) will be available at the next meeting of the board for inspection. In addition, upon request of any boardmember, a copy will be provided. If there are any material changes, an amended form 990 will be filed.”

“The organization enforces the conflict of interest policy by monitoring known relationships, questionnaires, and noting any changes in disclosed information. Any conflict is reviewed by the board before a decision is made as to whether to approve the transaction.”

“The organization's governing documents, conflict of interest policy, and financial statements are available upon request.”

“Consultants & contractors - sanitation: program service expenses 463,087. Management and general expenses 0. Fundraising expenses 0. Total expenses 463,087. Consultants & contractors - security: program service expenses 64,381. Management and general expenses 0. Fundraising expenses 0. Total expenses 64,381. Consultants & contractors - other: program service expenses 0. Management and general expenses 46,574. Fundraising expenses 0. Total expenses 46,574. Consultants & contractors - marketing: program service expenses 39,320. Management and general expenses 0. Fundraising expenses 0. Total expenses 39,320. Consultants & contractors - public improvement: program service expenses 63,733. Management and general expenses 0. Fundraising expenses 0. Total expenses 63,733.”

“The process has not changed from prior year.”