Greenwood House Foundation Inc

“Trustee richard goldstein has a business relationship with trustees howard henschel and howard deutsch because he is employed by an organization with which they also serve as trustees.”

“The foundation delegates control over management duties to greenwood house, home for the jewish aged, a related 501(c)(3) public charity. Management duties include, but are not limited to: planning and executing budgets and financial operations, and supervising exempt operations. The executive director of the management company is also the foundation's secretary/treasurer. Both the board service and management duties were provided to the foundation at no charge in 2023.”

“The foundation does not have separate committees, the governing board assumes all responsibilities.”

“The form 990 is prepared by an independent accounting firm then the governing body reviews the form 990 prior to its filing with the internal revenue service. In addition, a copy of the final form 990 is provided to each voting member of the governing body for review prior to filing with the internal revenue service.”

“The foundation maintains a list of all officers and trustees that are required to sign their conflict of interest policy. They are required to sign a disclosure form annually. Any conflicts must be reported to the board. The board reviews the conflict and determines whether the foundation can obtain a more advantageous transaction or arrangement that would not give rise to a conflict. If the board decides to continue with the arrangement the individual with the conflict is recused from the voting process relating to the conflict.”

“The governing documents, conflict of interest, and financial statements are made available upon request. These documents are also available for inspection at the foundation's office.”