Services for the Underserved Inc

“On december 4, 2014, services for the underserved, inc., a related 501(c)(3) public charity, became the sole member of palladia, inc.”

“On december 4, 2014, palladia, inc. Entered a membership transaction agreement with services for the underserved, inc. ("sus"), a new york not-for-profit corporation. Under the terms of the agreement, sus became the sole corporate member of palladia.”

“Services for the underserved, inc., as the sole corporate member of palladia, has the final approval of electing the board of directors for the organization and final voting rights on governing matters.”

“Form 990 is prepared by a nationally renowned accounting firm in conjunction with the organization's financial department. Draft form 990 is reviewed by the organization's management as well as the full board of directors before it was filed with the internal revenue service.”

“Annually, all members of the board, senior management and the executive management team complete a conflict of interest questionnaire. The responses are reviewed and investigated by the agency compliance officer and if a conflict exists, the individual is required to recuse themselves from discussions and voting.”

“The organization conducts a salary survey and/or updates salary data from the previous year using other comparable organizations form 990's. Where performance and third-party data indicates an adjustment to senior management and/or members of the executive management team, they are presented to the finance committee and the board for approval. Similarly, ceo performance is reviewed by the board and salary adjustments, if any, are approved by the board in executive session.”

“The organization makes its governing documents, conflict of interest policy and financial statements available to the public upon request.”

“1) family services - total expenses: $868,080. 2) criminal justice services - total expenses: $732,998. 3) other program related - total expenses: $1,233,084. Total revenue: $1,833,186.”

“Net assets (deficit) for the year ended june 30, 2014 have been restated to incorporate a correction to investment in limited partnerships and due from affiliates as follows: unrestricted temporarily net assets restricted (deficit) net assets total net assets (deficit) at 6/30/14, as previously reported (5,288,918.) 38,768. (5,250,150.) correction of investment in limited partnerships (698,719.) -0- (698,719.) correction of amount due from palladia year 15, inc. 875. -0- 875. Net assets (deficit) at 6/30/14, as restated (5,986,762.) 38,768. (5,947,994.)”