Governors Island Corporation

“The corporation has three (3) members, being the individual holding the office of mayor ("mayor") of the city of new york (the "city"), the individual holding the office of first deputy mayor of the city (or its successor office), and the individual holding the office of deputy mayor of housing and economic development of the city (or its successor office), or each such individual's authorized delegate. Any such delegation must be made in writing and filed with the records of the corporation. The members, as officials of the city, serve as members in furtherance of the interests of the city”

“The members, upon a majority vote, shall be entitled to appoint seventeen (17) directors of the corporation, as set forth below: (i) ten directors, appointed by the members in their capacities as officeials of the city; (ii) one director who shall reside in brooklyn, appointed by the members in their capacities as officials of the city; (iii) one director upon the nomination of the state assembly member, 64th district, or any successor district that includes governors island; (iv) one director upon the nomination of the state senator, 25th district, or any successor district that includes governors island; (v) one director upon the nomination of the chair of manhattan community board 1, or any successor community board that includes governors island; (vi) one director upon the nomination of the governor of the state of new york; (vii) one director upon the nomiation of the city council member for district 1, or any successor district that includes governors island; and (viii) one director upon the nomination of the manhattan bourough president, or any successor borough that includes governors island.”

“The members may take action, including for the appointment of directors, by written consent, waiving any notice and other requirements under these by-laws and the not-for-profit corporation law.”

“A draft of the form 990 is reviewed in detail by tgi's audit committee prior to filing the form. Once reviewed by the committee, the form 990 is distributed to the full board (via e-mail) for its review and comment, also prior to filing with the irs.”

“Tgi monitors and enforces its conflict of interest policy in part through compliance with new york city conflict of interest board ("coib") requirements. Tgi employees who meet the criteria must file annual coib forms; members of tgi's board of directors are also required to comply with coib and to file annual coib forms or equivalent new york state forms. Officers of the corporation are subject to the restrictions set forth in chapter 68 of the city charter, which is the city's conflict of interest policy.”

“The senior management of the governors island corporation d/b/a the trust for governors island ("the trust") includes the president, chief development officer, chief financial officer, and general counsel. The salary of the president shall be determined considering compensation at other comparable organizations in new york city as well as factors such as skill, experience, past performance, scope of responsibilities, and work history. The salary of other senior management staff shall be determined by the president, considering factors such as employee skill, experience, past performance, work history and position. The policies regarding other compensation (including pension), travel, reimbursement, time and attendance of senior management shall be substantially similar to the policies of the new york city economic development corporation, available to all employees of the trust.”

“Tgi's certificate of incorporation, by-laws, audited financial statements and code of ethics (which covers conflicts of interest) are posted on its website.”

“Professional fees: program service expenses 14,261,226. Management and general expenses 102,113. Fundraising expenses 0. Total expenses 14,363,339.”

“The process of overseeing the audit and selection of the independent auditor has not changed from the prior year.”