Metropolitan Tenants Organization

“Form 990 is drafted by outside cpa firm. The draft is circulated to the executive committee and board electronically for comments. Changes are communicated to the cpa and a revised draft is submitted to the executive director to assure all changes are made before filing.”

“The organization has a conflict of interest policy that mandates board members disclose any conflicts. Each each director, officer or member of a committee {each, an "affiliated person") should scrupulously avoid contracts and other financial transactions with the organizer or with the organization's contractors or lessors in which the affiliated person has a personal or material financial interest or is an officer, director or general partner of the contractor or lessor.in the event that an affiliated person or a member of the affiliated person's immediate family has an actual or potential conflict of interest, including but not limited to (1) proposed transactions directly or indirectly involving the organization, its contractors or lessors, and an affiliated person and (2)such transactions in which the affilicated person acts in an advisory capacity, the affiliated person shall promptly disclose all material facts related to such conflict or transaction in writing to that board of directors as a matter or record.when any such conflict of interest becomes relevant to any subject requiring action by the board of directors of any of its duly constituted committees, councils, task forces, advisory boards or other bodies, the affiliated person having a conflict shall not: (1) vote on the subject with respect to which the conflict of interest exists, (2) attempt to influence the vote of any other person or (3) be counted in determining the for voting upon such subject. An affiliated person who is excluded from voting because of such conflict of interest shall briefly state the natureof the conflict and answer pertinent questions when such affiliated person's knowledge of the subject will assist the board of directors or any of its committees or other bodies.after such disclosure is made and the board of directors has had the opportunity to ask pertinent questions of such interested affiliated persons, a vote should be taken with the action carried by a majority of disinterested directors, who must constitute a quorum. Minutes of the meeting shall reflect that such disclosure has been made, and that such affiliated person abstained from voting and was not counted in determining the quorum for voting on such subject.”

“The board of directors, on several occasions, has compared the executive director's salary to other executive directors. It was below the field standard and since there was no increase in pay during the current year, no current year review was deemed necessary. All compensation is reviewed and approved by the board of directors.”

“The organization's governing documents, conflict of interest policy and financial statements may be viewed at the corporate offices upon request.”