Ps 1 Contemporary Art Center Inc

“Moma is a corporate member of the moma ps1 organization.”

“Moma ps1 is an independently incorporated non-profit with its own management and finances, supported by a generous board. Founded in 1976, ps1 has been a member of new york city's cultural institutions group (cig) managed through the department of cultural affairs (dcla) since 1982, and also affiliated with the museum of modern art since 2000. Moma is a corporate member of the moma ps1 organization with the power to elect or appoint board members and participate in certain management decisions. Benefits of the unique affiliation with moma include curatorial collaboration, and some administrative, legal, and it support, as well as a financial contribution of up to 10% of ps1's annual operating budget. In addition, many moma trustees, affiliate groups and corporate sponsors support complimentary programs and initiatives that underpin our distinctive relationship.”

“Moma ps1 is an independently incorporated non-profit with its own management and finances, supported by a generous board. Founded in 1976, ps1 has been a member of new york city's cultural institutions group (cig) managed through the department of cultural affairs (dcla) since 1982, and also affiliated with the museum of modern art since 2000. Moma is a corporate member of the moma ps1 organization with the power to elect or appoint board members and participate in certain management decisions. Benefits of the unique affiliation with moma include curatorial collaboration, and some administrative, legal, and it support, as well as a financial contribution of up to 10-15% of ps1's annual operating budget. In addition, many moma trustees, affiliate groups and corporate sponsors support complimentary programs and initiatives that underpin our distinctive relationship.”

“Information for moma ps1's form 990 is generated from moma ps1's financial records with input from moma ps1 departments, and compiled by external tax advisers. It is then reviewed by moma ps1 senior staff including the director and chief operating officer. The 990 is then presented to moma ps1's audit committee of the board of directors for review and comment. A copy of the 990 is provided to each member of the board of directors electronically or in printed copy.”

“On an annual basis, moma ps1 distributes its code of conduct to all voting members of the board of directors and designated employees, and requires that conflict of interest questionnaires be completed and returned for initial review by the secretary to the board (for board members and employees), and chief operating officer (for employees). Among other things, the code of conduct and conflict of interest questionnaires require the respondent to: confirm that he or she has read and understands the code of conduct, agrees to abide by it, identify whether he or she (or a family member) has any relationship with moma ps1 that may represent a conflict of interest, as defined by the code of conduct, and report any knowledge of a transaction which should be reported under the code. When potential employee conflicts of interest are reported or identified, when necessary, an investigation is conducted to determine the facts and circumstances surrounding the conflict, and a recommendation for action is made, if warranted. Such action may include, but is not limited to, prohibiting the individual from participating in deliberations and decisions regarding the transaction in questions, or taking disciplinary actions, which, in appropriate circumstances may include suspension or termination. The employee's supervisor is notified of an employee with identified conflicts and the action to be taken, if any. When potential directors' conflict of interest are reported or identified, the secretary to the board of directors makes a report to a committee of the board. The committee will review the report in order to determine a course of action (if warranted), including, but not limited to disclosure to the board of directors, prohibiting the involved director from participating in and/or voting on a transaction in question, resignation from the board of directors, etc.”

“Compensation for moma ps1 officers is reviewed annually by the moma ps1 executive committee.”

“Moma ps1's governing documents are available upon request.”

“This number includes an estimate of volunteers engaged throughout the fiscal year to assist with programmatic activities, plus moma ps1's board members.”

“The audit committee assumes the responsibility for the audit. The process has not changed from prior years.”