Colonie Senior Service Centers Inc

“Form 990 is reviewed by the treasurer, executive director and finance director. Additionally, it is reviewed with the finance committee and presented to the board of directors.”

“In connection with any actual or possible conflict of interest, the board requires a related party must disclose the existence of any related party transaction and be given the opportunity to disclose all material facts to the audit committee. The board requires disclosure of conflicts of interest. To ensure the organization operates in a manner consistent with charitable purposes and does not engage in activities that could jeopardize its tax-exempt status, periodic reviews shall be conducted. The period reviews shall, at a minimum, include the following subjects: whether compensation arrangements and benefits are reasonable, based on competent survey information, and the result of arm's-length bargaining. Whether partnerships, joint ventures, and arrangements with management organizations conform to the organization's written policies, are properly recorded, reflect reasonable investment or payments for goods and services, further charitable purposes, and do not result in inurement, impermissible private benefit, or in an excess benefit transaction.”

“15a. The board of directors determines the executive director's compensation based on the compensation of comparable non-profit organizations in the area. 15b. The board approves an average raise for all employees, utlized at the discretion of the executive director.”

“The organization's bylaws contain the conflict of interest policy. The organization's financial statements are available upon request.”

“Misc. Allocated professional fees: program service expenses 15,927. Management and general expenses 6,038. Fundraising expenses 0. Total expenses 21,965.”

“Gasoline and oil: program service expenses 22,102. Management and general expenses 0. Fundraising expenses 0. Total expenses 22,102. Computer: program service expenses 11,844. Management and general expenses 1,970. Fundraising expenses 546. Total expenses 14,360. Miscellaneous: program service expenses 1,760. Management and general expenses 3,131. Fundraising expenses 9. Total expenses 4,900. Resident activities: program service expenses 4,143. Management and general expenses 0. Fundraising expenses 0. Total expenses 4,143. Telephone: program service expenses 2,990. Management and general expenses 478. Fundraising expenses 0. Total expenses 3,468. Independent contractors: program service expenses 3,360. Management and general expenses 0. Fundraising expenses 0. Total expenses 3,360. Utilities: program service expenses 2,520. Management and general expenses 0. Fundraising expenses 0. Total expenses 2,520. Dues and subscriptions: program service expenses -676. Management and general expenses 2,657. Fundraising expenses 0. Total expenses 1,981. Filing fees: program service expenses 1,033. Management and general expenses 36. Fundraising expenses 0. Total expenses 1,069. Project and program expense: program service expenses 260. Management and general expenses 0. Fundraising expenses 0. Total expenses 260. Conferences and seminars: program service expenses 0. Management and general expenses 207. Fundraising expenses 0. Total expenses 207.”

“Mark to market interest rate swap -1,382,546. Book to tax differences in income reported on schedule r -51,512. Rounding”