Cortland Acres Association Inc

“A simple majority of the board will constitute a quorum. The board consisted of eleven (11) members on december 31, 2024. The members of this board will serve terms of three (3) years on a rotating basis where five (5) members whose terms expire annually should be re-elected or replaced immediately upon the expiring of their term.”

“The president will appoint at least one (1) board member to serve as a nominating committee whose duty will be to present at least one (1) name for each of those board members whose terms expire in that year with the elections of these board members to be held at the last regular board meeting of the year. This board shall elect its officers from among its own membership annually based on the recommended, one or more, names from the nominating committee for each of the offices: president, vice-president, treasurer, and secretary.”

“A draft copy of the form 990 is distributed to each board member. It was distributed to the board of directors for approval along with the audited financial statements. All questions regarding the form 990 are directed to/addressed by the cfo and audit firm representative.”

“The conflict of interest policy is re-distributed annually to each board member. Each board member completes an annual affirmation of the receipt and understanding of the policy. The conflict of interest policy is followed throughout the conduction of business. Any related party transactions are disclosed in the annual financial audit.”

“Historically, pay increases have been minimal. The budget process includes a review and approval of a detailed budget by the finance committee before being forwarded to the full board for approval. The detailed budget includes projected pay increases for the coming year. Prior to the input of the pay increases into the payroll system, the administrator consults with the board president and other executive committee members as deemed necessary. The decision typically includes a review of the budgeted increases along with current overall budget status and occupancy.”

“Cortland's irs determination letter is made available to the public upon request. The organization's form 990 is made available for public inspection upon request.”

“The organization's governing documents and conflict of interest policy are made available to the public upon request.”

“Other fees for service: program service expenses 3,755,124. Management and general expenses 0. Fundraising expenses 0. Total expenses 3,755,124.”