Arc Apartments Inc.

“Arc apartments inc. Delegates the management duties of their operations to nysarc, inc. Ulster-greene counties chapter for budgetary, recording, bookkeeping and managerial functions.”

“Management will meet with the audit committee to review the 990 tax returns. The audit committee will discuss with management any issues, concerns or recommendations resulting from the completion of the 990 tax return. Once the 990 has been accepted by the audit committee, the cfo of nysarc, inc. Ulster-greene counties chapter will present the 990 return to the full board of directors.”

“The policies are adopted from the parent entity, nysarc, inc. Ulster-greene counties chapter (the chapter) annually, the governing board and executive management complete a conflict of interest self-disclosure form. If there is a conflict of interest, as per the policy of the chapter, the parent entity, the board member that it involves will remove themself from the discussion and/or vote.”

“Arc apartment has adopted the process of the parent entity, nysarc, inc. Ulster-greene counties chapter (the chapter). The chapter's executive committee of the board of directors performs the compensation review of the cheif executive officer, advise the board with respect to senior management succession planning and recommend to the board of directors the compensation packet of the executive director. This process was last done in 2017. The compensation of the other executive team members and key employees is based on data comparisons derived from the human resource department and performance rating scale based on the criteria of the position. The executive director will use these resources to determine compensation level.”

“The governing documents, conflict of interest policy and finanical statements are availble to the general public upon request.”

“The organization has an audit committee that oversaw the audit. There has been no change from the prior year.”