New York Landmarks Conservancy Inc

“During its 2024 tax year, the organization's board of directors amended the organization's by-laws (a) to increase the quorum requirements for meetings of the board of directors and the executive committee of the board of directors, (b) to clarify that the board of directors elects the chairs of committees of the board of directors, (c) to specify that the chair of the board will serve ex-officio as the chair of the executive committee and that the officers of the organization, together with chairs of certain committees and the past chairs of the board will serve ex-officio on the executive committee, and (d) to allow the board of directors to waive the term limits for officers for one or more one-year periods.”

“The conservancy has its form 990 prepared by an outside accounting firm and has established the following review process to ensure that the information reported is complete and accurate: when the form 990 has been reviewed by management (including the cfo) and is ready to be filed with the internal revenue service, it is submitted electronically to members of the conservancy's governing body for any comments prior to its submission. The governing body is provided with sufficient time to review the prepared form 990 and provide their comments. All comments/questions are documented and addressed until the return is finalized and approved for filing.”

“The conservancy currently has in place a conflict of interest policy, which it annually monitors and enforces. The policy requires that all directors, officers and key persons must annually sign a conflict of interest disclosure statement and disclose any potential or actual conflicts that may exist. The signed conflict of interest disclosure statement is kept on file. In the event of a conflict of interest, the conflicted member must immediately disclose the existence and materiality of any conflicts to the audit committee. A conflicted member cannot vote on the matter and such member must be counted in determining the quorum for the meeting. At the discretion of the chair of the board of directors, a member with a conflict of interest may be required to leave that portion of a meeting that considers the matter as to which there is a conflict. The minutes of the meeting reflect the making of the disclosure, the abstention from voting, the quorum situation, and whether the director or member was present or absent when the matter was considered.”

“The conservancy's executive committee determines the compensation of the president. The committee reviews comparable salaries from 990 filings of other nonprofits for executive directors in both the new york city area and across the country. The committee also reviews the nonprofit salaries and staffing trends report prepared by independent person. The process is documented in the board meeting minutes and last undertaken in 2024. The conservancy's executive committee determines the compensation of the director of finance and key employee. The committee reviews comparable salaries from 990 filings of other nonprofits for key employees and officers in both the new york city area and across the country. The committee also reviews the nonprofit salaries and staffing trends report prepared by independent person. The process is documented in the board meeting minutes and last undertaken in 2024.”

“The conservancy makes its form 990 available for public inspection as required under section 6104 of the internal revenue code. The return is posted on guidestar.org, as well as other similar types of websites. In addition, the form 990, financial statements, conflict of interest policy and governing documents are available upon written request or by calling the organization directly.”

“The organization contracted with a professional employer organization (peo) for services, including but not limited to, payroll, timekeeping, employee benefits, hr administration and workforce regulatory compliance needs. As the employer of record for tax purposes, forms w-2 and w-3 are issued by the peo and filed under the peo's federal ein. In this co-employment arrangement, the organization is the common law employer and, accordingly, compensation is reported on form 990, part vii, section a and part ix, lines 5-10.”

“Recapture of grants 108,449.”

“The organization has a committee that assumes responsibility for oversight of the audit of its financial statements and selection of an independent accountant. This process did not change from the prior year.”