Penn Hillel

“Form 990 was prepared by the outside cpa firm, reviewed by the management of the organization, reviewed and approved by the board of directors prior to filing with the irs.”

“The organization requires each director, officer and key employee to complete an annual conflict of interest statement, certifying whether a conflict of interest exists and signing the certification. The certifications are reviewed by the board and management and exceptions are followed up with the specific individual. The board shall determine whether the organization can obtain with reasonable efforts a more advantageous transaction or arrangement from a person that would not give rise to a conflict of interest. If a more advantageous transaction or arrangement is not reasonably possible under circumstances not producing a conflict of interest , the board will assess the current conflict relative to the benefits to the organization. If the exception is not deemed to be significantly detrimental to the organization, the board has the latitude to allow the arrangement to continue and for the individual to maintain their status on the board of directors. If the conflict of interest is deemed significantly detrimental to the organization, the board will take appropriate disciplinary and corrective action. If the board determines that an individual has failed to disclose actual or possible conflicts of interest, the individual will be notified and given the opportunity to explain the alleged failure to disclose. If after hearing the explanation and performing a further investigation, the board determines that if such person failed to disclose the conflict of interest, it will take appropriate disciplinary and corrective action.”

“Salaries for officers, key employees and all other employees are reviewed and adjusted once a year, effective as of the beginning of the fiscal year on august 1, by the executive committee of the board of directors. The committee is comprised of independent individuals.”

“FURNISHED UPON REQUEST.”

“The organization operates at the campus of the university of pennsylvania. One element of hillel's religious activities is to offer students, faculty and staff at the university of pennsylvania an option for on-campus kosher dining. At the university of pennsylvania, hillel accomplishes this, in part, by leasing its dining facilities located on the university of pennsylvania's campus to the university of pennsylvania, which, in turn, contracts with an independent third-party food service provider to provide kosher dining to university of pennsylvania students, faculty and staff. Hillel receives rental payments from the university of pennsylvania, which are stated on form 990, part viii, line 6. None of the rental income received by hillel from the university of pennsylvania constitutes unrelated debt-financed income.”

“The organization has a committee that has oversight of the audit of its financial statements. This has not changed since the prior year.”